SECTION 3. CHANGES TO EXISTING

PROCEDURE

.01 General Account Total Return . Rev. Proc. 2001–42, section 3.07(2), is modified to provide that the General Account Total Return is the arithmetic average (weighted on a 50–50 basis) of the following two rates: (1) Moody’s Seasoned Corporate Aaa Bond Yield, frequency annual; and (2) Moody’s Seasoned Corporate Baa Bond Yield, frequency annual. Both rates are published by Moody’s Investors Service, Inc., or any successor thereto, and are publicly available at www.federalreserve.gov . Under this methodology, the General Account Total Return for 2005 would be (5.23 + 6.06)/2 = 5.645. Section 3.07(2) is further modified to include the following tables setting forth the General Account Total Return as so determined for the years 1988 through 2005:

26 CFR § 301.7121: Closing agreements. (Also Part I, section 7702A.)

Rev. Proc. 2007–19