Update from ASC Actuaries

2022 Mortality Tables Update

In 2020, the IRS issued its notice announcing mortality tables to be used in the calculations of the funding results under IRC 430(h)(3)(A) and associated 1.430(h)(3)-1 used to determine the minimum contribution and maximum deduction and the IRC Section 417(e) minimum lump sum (Applicable Mortality). IRS Notice 2020-85 published the 2022 static mortality tables for plans with valuation dates in 2022. The notice also referenced the generational mortality using the 2006 base tables (from the RP-2014 Mortality Tables Report, as revised in November 2014) with the MP-2020 projection scales for valuation dates in 2022.

The 2022 static and Applicable mortality, as well as the 2006 Base tables, are available for download on the ASC website by logging into the Client Support Center and accessing the Updates & Downloads tab. The MP-2020 projection scales are available to users who are current on patches and do not require a manual download to apply to your system. We recommend users also select to download and review the step by step instructions, PPA Mortality Tables Import Instructions.pdf, which provides an overview of the tables available for download. A second document available from the same section, DB Tables – Generational Mortality Projection Documentation.pdf provides background on generational mortality tables.

Devin Schmelzer, Valerie M. Lopez, Caroline Khachaturian