Rev. Proc. 2017-55 is superseded. Sections 24.01(11), 26.02(4), and 31.01(1) of
SECTION 11. DEMONSTRATIONS
Internal Revenue Bulletin 2024-34 · 2026-10-03 edition · updated 2026-10-04 · United States
WITH RESPECT TO BASE TABLES
.01 Funding target comparison . For the Plan (or each plan within the Aggregated Group) for which approval to use substitute mortality tables is requested, the applicant must provide a comparison of: (1) the plan’s funding target (determined without regard to at-risk assumptions under § 430(i)) calculated using the generally applicable generational mortality tables, and (2) the amount that funding target would have been if the substitute mortality tables had been used to determine the funding target, holding all other assumptions constant.
These amounts must be determined as of the valuation date for a plan year ending no earlier than one year and one day before the first day of the Requested Effective Plan Year, using the data and interest rates that were used for that valuation. The amounts must be provided in total and separately for: (1) active participants, (2) terminated vested participants, and (3) retired participants and beneficiaries receiving payment.
.02 Generational mortality tables . For each population for which approval to use substitute mortality tables is requested, the applicant’s request must include sample generational mortality tables, as of the Requested Effective Plan Year, for individuals whose years of birth are 1950, 1970, and 1990, respectively, constructed from the Substitute Base Table using the rules of § 1.430(h)(3)-2(c)(3).
.03 Annuity factors . For each population for which approval to use substitute mortality tables is requested, the applicant’s request must include the following annuity factors based on the substitute mortality table for an individual whose year of birth is 20 years before the base year for the Substitute Base Table, determined using the same interest rates as those used under section 11.01 of this revenue procedure.
(1) For a Substitute Base Table that is not an annuitant Substitute Base Table, deferred to age 55 factors at quinquennial ages from 20 to 50.
(2) For a Substitute Base Table that is not a nonannuitant Substitute Base Table, immediate annuity factors at quinquennial ages from 50 to 90.
August 19, 2024 528 Bulletin No. 2024–34
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