EMPLOYEE PLANS

REG-103525-23, page 1252.

These proposed regulations would update the requirements that a plan sponsor of a single-employer defined benefit plan must meet to obtain IRS approval to use mortality tables specific to the plan in calculating present value for minimum funding purposes (as a substitute for the generally applicable mortality tables).

T.D. 9983, page 1237.

These regulations prescribe mortality tables to be used for most defined benefit pension plans. The tables specify the probability of survival year-by-year for an individual based on age, gender, and other factors. The tables are used (together with other actuarial assumptions) to calculate the present value of a stream of expected future benefit payments for purposes of determining the minimum funding requirements for the plan. These mortality tables are also relevant for determining the minimum required amount of a lump-sum distribution from such a plan.

26 CFR 1.430(h)(3)-1; 26 CFR 1.431(c)(6)-1; 26 CFR 1.433(h)(3)-1

EXEMPT ORGANIZATIONS

Announcement 2023-31, page 1251.

Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements. Contributions made to the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).