IRS Rev. Proc.: Plan-Specific Substitute Mortality Tables for Defined Benefit Plans (IRC §430)

The IRS released guidance on the use of plan-specific substitute mortality tables used to determine present value for defined benefit pension plans. The guidance modifies section 12 of Rev. Proc. 2024-32, 2024-34 IRB 523. It provides immediate relief for some of the plan sponsors by narrowing the category of plan sponsors required to request approval of new plan-specific replacement mortality tables. [Rev. Proc. 2025-21, 2025-22 I.R.B. __ (May 27, 2025)]

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