SECTION 1. PURPOSE

.01 This revenue procedure sets forth the procedure by which the sponsor of a defined benefit plan that is subject to the funding requirements of § 430 of the Internal Revenue Code (Code) may request

approval from the Internal Revenue Service (IRS) for the use of plan-specific substitute mortality tables in accordance with § 430(h)(3)(C) and § 1.430(h)(3)–2 of the Treasury Regulations. ³⁴

.02 This revenue procedure is an update of Rev. Proc. 2008–62, 2008–2 C.B. 935. Rev. Proc. 2008–62 was issued in conjunction with final regulations under § 430(h)(3)(C) that were published in the Federal Register on October 6, 2008 (§ 1.430(h)(3)–2, T.D. 9419, 2008–40 I.R.B. 790) (“2008 regulations”). Amendments to the 2008 regulations were published in the Federal Register on October 5, 2017 (T.D. 9826, 82 F.R. 46388) (“2017 regulations”).

.03 This revenue procedure includes the following significant changes from Rev. Proc. 2008–62 to reflect the 2017 amendments to § 1.430(h)(3)–2:

(1) Section 7 (Demonstrations of Credible Mortality Information) has been expanded to require the information needed to calculate the full credibility threshold in accordance with § 1.430(h)(3)–2(d)(3), the mortality ratio in accordance with § 1.430(h)(3)–2(d)(4)(ii), and the partial credibility weighting factor in accordance with § 1.430(h)(3)–2(e)(2).

(2) Section 9 (Information Regarding Other Plans in the Plan Sponsor’s Controlled Group) has been updated to reflect changes to the rules in the regulations regarding what constitutes lack of credible mortality information.

(3) Sections 10 through 12 (which previously provided guidance regarding substitute mortality table construction) have been replaced by a new section 10 (Substitute Base Table Construction), which requests information to support the construction of base substitute mortality tables under the 2017 regulations, including base substitute mortality tables for populations with mortality experience that is only partially credible.