[Federal Register Volume 72, Number 22 (Friday, February 2, 2007)]
[Rules and Regulations]
[Pages 4955-4960]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-1703]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9310]
RIN 1545-BE72


Updated Mortality Tables for Determining Current Liability

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations.

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SUMMARY: This document contains final regulations providing mortality 
tables to be used in determining current liability for purposes of 
applying certain pension funding requirements. These regulations affect 
sponsors, administrators, participants, and beneficiaries of certain 
retirement plans.

DATES: Effective Date: These regulations are effective February 2, 
2007.
    Applicability Date: These regulations apply for plan years 
beginning on or after January 1, 2007.

FOR FURTHER INFORMATION CONTACT: Bruce Perlin or Linda Marshall at 
(202) 622-6090 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    Section 412 of the Internal Revenue Code provides minimum funding 
requirements with respect to certain defined benefit pension plans.\1\ 
Title I of the Pension Protection Act of 2006 (PPA), Pub. L. 109-280, 
120 Stat. 780, makes extensive changes to the rules of section 412, 
generally applicable to plan years beginning on or after January 1, 
2008. Except as otherwise stated, all references to section 412 in this 
document refer to section 412 without regard to the amendments made by 
Title I of PPA.
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    \1\ Section 302 of the Employee Retirement Income Security Act 
of 1974, as amended (ERISA) sets forth funding rules that are 
parallel to those in section 412 of the Code. Under section 101 of 
Reorganization Plan No. 4 of 1978 (43 FR 47713) and section 302 of 
ERISA, the Secretary of the Treasury has interpretive jurisdiction 
over the subject matter addressed in these regulations for purposes 
of ERISA, as well as the Code. Thus, these final Treasury 
regulations issued under section 412 of the Code apply as well for 
purposes of section 302 of ERISA.
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    Section 412(l) provides additional funding requirements for certain 
defined benefit pension plans, based in part on a plan's unfunded 
current liability, as defined in section 412(l)(8). Pursuant to section 
412(c)(6), if the otherwise applicable minimum funding requirement 
exceeds the plan's full funding limitation (defined in section

[[Page 4956]]

412(c)(7) as the excess of a specified measure of plan liability over 
the plan assets), then the minimum funding requirement for the year is 
reduced by that excess. Under section 412(c)(7)(E), the full funding 
limitation cannot be less than the excess of 90% of the plan's current 
liability (including the expected increase in current liability due to 
benefits accruing during the plan year) over the value of the plan's 
assets. For this purpose, the term current liability generally has the 
same meaning given that term under section 412(l)(7).
    Section 412(l)(7)(C)(ii) provides that, for purposes of determining 
current liability in plan years beginning on or after January 1, 1995, 
the mortality table used is the table prescribed by the Secretary. 
Under section 412(l)(7)(C)(ii)(I), the initial mortality table used in 
determining current liability under section 412(l)(7) must be based on 
the prevailing commissioners' standard table (described in section 
807(d)(5)(A)) used to determine reserves for group annuity contracts 
issued on January 1, 1993. For purposes of section 807(d)(5), Rev. Rul. 
92-19 (1992-1 C.B. 227) specifies the prevailing commissioners' 
standard table used to determine reserves for group annuity contracts 
issued on January 1, 1993, as the 1983 Group Annuity Mortality Table 
(1983 GAM). Accordingly, Rev. Rul. 95-28 (1995-1 C.B. 74) sets forth 
two gender-specific mortality tables, based on 1983 GAM, for purposes 
of determining current liability for participants and beneficiaries 
(other than disabled participants).
    Section 412(l)(7)(C)(iii)(I) specifies that the Secretary is to 
establish different mortality tables to be used to determine current 
liability for individuals who are entitled to benefits under the plan 
on account of disability. One such set of tables is to apply to 
individuals whose disabilities occur in plan years beginning before 
January 1, 1995, and a second set of tables for individuals whose 
disabilities occur in plan years beginning on or after such date. Under 
section 412(l)(7)(C)(iii)(II), the separate tables for disabilities 
that occur in plan years beginning after December 31, 1994, apply only 
with respect to individuals who are disabled within the meaning of 
title II of the Social Security Act and the regulations thereunder. 
Rev. Rul. 96-7 (1996-1 C.B. 59) sets forth the mortality tables 
established under section 412(l)(7)(C)(iii).
    Under section 412(l)(7)(C)(ii)(III), the Secretary is required to 
periodically (at least every 5 years) review any tables in effect under 
that subsection and, to the extent necessary, by regulation update the 
tables to reflect the actual experience of pension plans and projected 
trends in such experience. Section 412(l)(7)(C)(ii)(II) provides that 
the updated tables are to take into account the results of available 
independent studies of mortality of individuals covered by pension 
plans. Pursuant to section 412(l)(7)(C)(ii)(II), any new mortality 
tables prescribed by regulation can be effective no earlier than the 
first plan year beginning after December 31, 1999. Under section 
412(l)(10), increases in current liability arising from the adoption of 
such a new mortality table are required to be amortized over a 10-year 
period.
    Notice 2003-62 (2003-2 C.B. 576) was issued as part of the periodic 
review by the IRS and the Treasury Department of the mortality tables 
used in determining current liability under section 412(l)(7). At the 
time Notice 2003-62 was issued, the IRS and the Treasury Department 
were aware of two reviews of mortality experience for retirement plan 
participants undertaken by the Retirement Plans Experience Committee of 
the Society of Actuaries (the UP-94 Study and the RP-2000 Mortality 
Tables Report),\2\ and commentators were invited to submit any other 
independent studies of pension plan mortality experience. Notice 2003-
62 also requested the submission of studies regarding projected trends 
in mortality experience. With respect to projecting mortality 
improvements, the IRS and the Treasury Department requested comments 
regarding the advantages and disadvantages of reflecting these trends 
on an ongoing basis through the use of generational, modified 
generational, or sequentially static mortality tables.
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    \2\ The UP-94 Study, prepared by the UP-94 Task Force of the 
Society of Actuaries, was published in the Transactions of the 
Society of Actuaries, Vol. XLVII (1995), p. 819. The RP-2000 
Mortality Table Report was released in July, 2000. Society of 
Actuaries, RP-2000 Mortality Tables Report, at http://www.soa.org/ccm/content/research-publications/experience-studies-tools/the-rp-2000-mortality-tables/.
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    The IRS and the Treasury Department have reviewed the mortality 
tables that are used for purposes of determining current liability for 
participants and beneficiaries (other than disabled participants). The 
existing mortality table for determining current liability (1983 GAM) 
was compared to independent studies of mortality of individuals covered 
by pension plans, after reflecting projected trends for mortality 
improvement through 2007. The comparison indicated that the 1983 GAM is 
no longer appropriate for determining current liability.
    Based on this review of the 1983 GAM compared to more recent 
mortality experience, the IRS and the Treasury Department have 
determined that updated mortality tables based on the RP-2000 Mortality 
Tables Report should be used to determine current liability for 
participants and beneficiaries (other than disabled participants).\3\
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    \3\ Because of the enactment of PPA, the IRS and Treasury 
Department are not planning to complete a review of the section 
412(l)(7)(C)(iii) mortality tables for disabled participants 
pursuant to section 412(l)(7)(C)(ii)(III). The IRS and Treasury 
Department will review recent mortality experience and expected 
trends for disabled participants to determine what mortality tables 
should be used for disabled participants under section 430(h)(3)(D) 
as added by PPA.
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    On December 2, 2005, the IRS issued proposed regulations under 
section 412(l)(7) (70 FR 72260) setting forth mortality tables, 
proposed to be effective for plan years beginning on or after January 
1, 2007, to be used for nondisabled pension plan participants. The 
proposed regulations would have required plans of 500 or more 
participants to use separate mortality tables (derived from the RP-2000 
mortality tables) for nonannuitant and annuitant periods. These 
separate tables were developed by projecting mortality improvement from 
a base year of 2007 over the period of the approximate expected 
duration of liabilities (7 years for the annuitant tables and 15 years 
for the nonannuitant tables). Small plans, defined as those with fewer 
than 500 participants (including both active and inactive 
participants), would have been permitted to use a combined table that 
applies the same mortality rates to both annuitants and nonannuitants. 
The proposed regulations provided for updated tables to be issued 
annually reflecting a new base year and using the projection factors 
described in the proposed regulations, to reflect expected improvements 
in mortality. Two comments on the proposed regulation were received, 
and no public hearing was requested or held.
    On August 17, 2006, PPA was enacted. PPA contains a comprehensive 
revision of the minimum funding requirements for single employer plans, 
based on the calculation of a funding target that replaces the current 
liability calculation under section 412(l). These minimum funding 
provisions of PPA are generally effective for plan years beginning 
after December 31, 2007. Under section 430(h)(3)(A) as enacted in PPA, 
the Secretary is directed to prescribe by regulation the mortality 
tables used in determining present value or making any computation 
under the funding rules. The specifications for developing the 
mortality tables under

[[Page 4957]]

section 430(h)(3)(A) are the same as the specifications set forth in 
section 412(l)(7)(C)(ii)(III).

Explanation of Provisions

    These regulations set forth the mortality tables to be used under 
section 412(l)(7)(C)(ii) to determine current liability for 
participants and beneficiaries (other than disabled participants) for 
plan years beginning on or after January 1, 2007. These mortality 
tables are the same mortality tables that were published for 2007 in 
the proposed regulations, and are based on the tables contained in the 
RP-2000 Mortality Tables Report. The IRS and the Treasury Department 
have reviewed the RP-2000 mortality tables and the accompanying report 
published by the Society of Actuaries, and have determined that the RP-
2000 mortality tables form the best available basis for predicting 
mortality of pension plan participants and beneficiaries (other than 
disabled participants) based on pension plan experience and expected 
trends. As under the mortality tables applicable for earlier plan 
years, the mortality tables set forth in these regulations are gender-
distinct because of significant differences between expected male 
mortality and expected female mortality.
    Of the two comments received on the proposed regulations, one 
commentator stated that requiring separate annuitant and nonannuitant 
mortality tables adds complexity without increasing accuracy. According 
to this commentator, the complexity could be avoided without loss of 
accuracy by using the RP-2000 blended table. This commentator suggested 
that, if separate annuitant and nonannuitant mortality tables are 
required, they should not be required to be used before 2008. The other 
commentator agreed with the use of separate annuitant and nonannuitant 
tables.
    In a change from the proposed regulations, the IRS and the Treasury 
Department have chosen to permit all plans to use a blended table for 
2007 rather than require the use of separate annuitant and nonannuitant 
tables. This decision was made because of the sweeping changes made to 
the minimum funding requirements for single employer plans by PPA that 
will generally become effective in 2008. The IRS and the Treasury 
Department believe that using separate annuitant and nonannuitant 
tables results in a more accurate measure of a plan's current 
liability. However, in view of the sweeping PPA changes and the 
resulting need to overhaul actuarial valuation systems, it was 
determined that all plans (and not just small plans) should be 
permitted to use the combined mortality tables for the 2007 plan 
year.\4\ It is expected that proposed regulations under section 
430(h)(3)(A) providing mortality tables for purposes of determining 
present value under section 430 will require large plans to use 
separate annuitant and nonannuitant tables to achieve a more accurate 
measure of the present value of plan benefits.
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    \4\For most single employer plans, these regulations will be in 
effect only for the plan year beginning in 2007 because changes to 
section 412 made by PPA will eliminate the need for single employer 
plans to calculate current liability for plan years beginning on or 
after January 1, 2008. However, sections 104 through 106 of PPA 
provide later effective dates for the PPA changes to section 412 
with respect to certain plans, and therefore those plans will 
continue to be required to determine current liability for some plan 
years beginning on or after January 1, 2008.
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    If the separate tables for annuitants and nonannuitants are used, 
the nonannuitant mortality table is applied to determine the 
probability of survival for a nonannuitant for the period before the 
nonannuitant is projected to commence receiving benefits. The annuitant 
mortality table is applied to determine the present value of benefits 
for each annuitant, and for each nonannuitant for the period after 
which the nonannuitant is projected to commence receiving benefits. For 
purposes of this section, an annuitant means a plan participant who has 
commenced receiving benefits and a nonannuitant means a plan 
participant who has not yet commenced receiving benefits (e.g., an 
active employee or a terminated vested participant). Thus, for example, 
with respect to a 45-year-old active participant who is projected to 
commence receiving an annuity at age 55, current liability would be 
determined using the nonannuitant mortality table for the period before 
the participant attains age 55 (i.e., so that the probability of an 
active male participant living from age 45 to the age of 55 for the 
table that applies in plan years beginning in 2007 is 98.59%) and the 
annuitant mortality table for the period ages 55 and above. Similarly, 
if a 45-year-old terminated vested participant is projected to commence 
an annuity at age 65, current liability would be determined using the 
nonannuitant mortality table for the period before the participant 
attains age 65 and the annuitant mortality table for ages 65 and above. 
A participant whose benefit has partially commenced is treated as an 
annuitant with respect to the portion of the benefit which has 
commenced and a nonannuitant with respect to the balance of the 
benefit.
    As under the proposed regulations, the annuitant and nonannuitant 
tables were developed by applying projected mortality improvements to 
the annuitant and nonannuitant tables from the RP-2000 Mortality Tables 
Report. Mortality improvement was projected forward from the base year 
of 2007 by 7 years for annuitants and 15 years for nonannuitants, to 
approximate an average expected duration of liabilities. The projection 
factors used are from Mortality Projection Scale AA, which was also 
recommended for use in the UP-94 Study and RP-2000 Mortality Tables 
Report.
    The blended table provided under these regulations was constructed 
in the same manner as under the proposed regulations, by applying the 
nonannuitant/annuitant weighting factors published in the RP-2000 
Mortality Tables Report. However, because the RP-2000 Mortality Tables 
Report does not provide weighting factors before age 50 or after age 
70, the IRS and the Treasury Department have extended the table of 
weighting factors for ages 41 through 50 (ages 45-50 for females) and 
for ages 70 through 79 in order to develop the blended table.
    For most plans, these regulations will be in effect only for the 
2007 plan year because the minimum funding requirements enacted in PPA 
will replace the currently applicable minimum funding requirements for 
plan years beginning on or after January 1, 2008. For plans that remain 
subject to the pre-PPA requirements of section 412 after the 2007 plan 
year (see sections 104 through 106 of PPA), these regulations require 
that the mortality tables that will be provided pursuant to section 
430(h)(3)(A) are to be used as the mortality tables that apply for 
determining current liability under section 412 for those later plan 
years.

Applicability Date

    These regulations apply to plan years beginning on or after January 
1, 2007.

Special Analyses

    It has been determined that this Treasury Decision is not a 
significant regulatory action as defined in Executive Order 12866. 
Therefore, a regulatory assessment is not required. It also has been 
determined that section 553(b) of the Administrative Procedure Act (5 
U.S.C. chapter 5) does not apply to these regulations, and because the 
regulation does not impose a collection of information on small 
entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not 
apply. Pursuant to section 7805(f) of the Code, the notice of proposed 
rulemaking preceding these

[[Page 4958]]

regulations was submitted to the Small Business Administration for 
comment on its impact on small business.

Drafting Information

    The principal authors of these regulations are Bruce Perlin and 
Linda S. F. Marshall, Office of Division Counsel/Associate Chief 
Counsel (Tax Exempt and Government Entities). However, other personnel 
from the IRS and Treasury Department participated in the development of 
these regulations.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Adoption of Amendments to the Regulations

0
Accordingly, 26 CFR part 1 is amended as follows:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read, in 
part, as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.412(l)(7)-1 is added to read as follows:


Sec.  1.412(l)(7)-1  Mortality tables used to determine current 
liability.

    (a) In general. The mortality tables set forth in paragraph (d) of 
this section are to be used in determining current liability under 
section 412(l)(7) for participants and beneficiaries (other than 
disabled participants) for plan years beginning in 2007. For plan years 
beginning on or after January 1, 2008, the mortality tables described 
in section 430(h)(3)(A) are to be used in determining current liability 
under section 412(l)(7) for participants and beneficiaries (other than 
disabled participants).
    (b) Separate tables for annuitants and nonannuitants. The separate 
tables for annuitants and nonannuitants are used unless the plan 
applies the optional combined table pursuant to paragraph (c) of this 
section. If these separate tables are used, the nonannuitant mortality 
table is applied to determine the probability of survival for a 
nonannuitant for the period before the nonannuitant is projected to 
commence receiving benefits. The annuitant mortality table is applied 
to determine the present value of benefits for each annuitant, and for 
each nonannuitant for the period after which the nonannuitant is 
projected to commence receiving benefits. For purposes of this section, 
an annuitant means a plan participant who has commenced receiving 
benefits and a nonannuitant means a plan participant who has not yet 
commenced receiving benefits (e.g., an active employee or a terminated 
vested participant). Thus, for example, with respect to a 45-year-old 
active participant who is projected to commence receiving an annuity at 
age 55, current liability would be determined using the nonannuitant 
mortality table for the period before the participant attains age 55 
(i.e., so that the probability of an active male participant living 
from age 45 to the age of 55 for the table that applies in plan years 
beginning in 2007 is 98.59%) and the annuitant mortality table for the 
period ages 55 and above. Similarly, if a 45-year-old terminated vested 
participant is projected to commence an annuity at age 65, current 
liability would be determined using the nonannuitant mortality table 
for the period before the participant attains age 65 and the annuitant 
mortality table for ages 65 and above. For purposes of this section, a 
participant whose benefit has partially commenced is treated as an 
annuitant with respect to the portion of the benefit which has 
commenced and a nonannuitant with respect to the balance of the 
benefit.
    (c) Optional combined tables. As an alternative to the separate 
tables specified for annuitants and nonannuitants as described in 
paragraph (b) of this section, the optional combined table, which 
applies the same mortality rates to both annuitants and nonannuitants, 
can be used.
    (d) Mortality tables for 2007. As set forth in paragraph (a) of 
this section, the following tables are to be used for determining 
current liability for plan years beginning during 2007 in accordance 
with the rules of this section.

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                                                         Male                               Female
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                   Age                       Non-                  Optional      Non-                  Optional
                                           annuitant   Annuitant   combined    annuitant   Annuitant   combined
                                             table       table       table       table       table       table
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1.......................................    0.000408    0.000408    0.000408    0.000366    0.000366    0.000366
2.......................................    0.000276    0.000276    0.000276    0.000239    0.000239    0.000239
3.......................................    0.000229    0.000229    0.000229    0.000178    0.000178    0.000178
4.......................................    0.000178    0.000178    0.000178    0.000133    0.000133    0.000133
5.......................................    0.000163    0.000163    0.000163    0.000121    0.000121    0.000121
6.......................................    0.000156    0.000156    0.000156    0.000113    0.000113    0.000113
7.......................................    0.000150    0.000150    0.000150    0.000106    0.000106    0.000106
8.......................................    0.000138    0.000138    0.000138    0.000094    0.000094    0.000094
9.......................................    0.000134    0.000134    0.000134    0.000090    0.000090    0.000090
10......................................    0.000136    0.000136    0.000136    0.000090    0.000090    0.000090
11......................................    0.000140    0.000140    0.000140    0.000092    0.000092    0.000092
12......................................    0.000146    0.000146    0.000146    0.000095    0.000095    0.000095
13......................................    0.000154    0.000154    0.000154    0.000099    0.000099    0.000099
14......................................    0.000167    0.000167    0.000167    0.000109    0.000109    0.000109
15......................................    0.000176    0.000176    0.000176    0.000119    0.000119    0.000119
16......................................    0.000186    0.000186    0.000186    0.000127    0.000127    0.000127
17......................................    0.000197    0.000197    0.000197    0.000135    0.000135    0.000135
18......................................    0.000207    0.000207    0.000207    0.000138    0.000138    0.000138
19......................................    0.000217    0.000217    0.000217    0.000136    0.000136    0.000136
20......................................    0.000226    0.000226    0.000226    0.000134    0.000134    0.000134
21......................................    0.000239    0.000239    0.000239    0.000132    0.000132    0.000132
22......................................    0.000251    0.000251    0.000251    0.000133    0.000133    0.000133
23......................................    0.000267    0.000267    0.000267    0.000138    0.000138    0.000138
24......................................    0.000282    0.000282    0.000282    0.000144    0.000144    0.000144
25......................................    0.000301    0.000301    0.000301    0.000152    0.000152    0.000152
26......................................    0.000331    0.000331    0.000331    0.000164    0.000164    0.000164

[[Page 4959]]

 
27......................................    0.000342    0.000342    0.000342    0.000171    0.000171    0.000171
28......................................    0.000352    0.000352    0.000352    0.000180    0.000180    0.000180
29......................................    0.000369    0.000369    0.000369    0.000190    0.000190    0.000190
30......................................    0.000398    0.000398    0.000398    0.000212    0.000212    0.000212
31......................................    0.000447    0.000447    0.000447    0.000257    0.000257    0.000257
32......................................    0.000503    0.000503    0.000503    0.000293    0.000293    0.000293
33......................................    0.000565    0.000565    0.000565    0.000323    0.000323    0.000323
34......................................    0.000629    0.000629    0.000629    0.000349    0.000349    0.000349
35......................................    0.000692    0.000692    0.000692    0.000372    0.000372    0.000372
36......................................    0.000753    0.000753    0.000753    0.000394    0.000394    0.000394
37......................................    0.000810    0.000810    0.000810    0.000415    0.000415    0.000415
38......................................    0.000844    0.000844    0.000844    0.000439    0.000439    0.000439
39......................................    0.000875    0.000875    0.000875    0.000465    0.000465    0.000465
40......................................    0.000904    0.000904    0.000904    0.000506    0.000506    0.000506
41......................................    0.000936    0.000963    0.000936    0.000555    0.000555    0.000555
42......................................    0.000974    0.001081    0.000975    0.000611    0.000611    0.000611
43......................................    0.001018    0.001258    0.001021    0.000672    0.000672    0.000672
44......................................    0.001071    0.001493    0.001079    0.000738    0.000738    0.000738
45......................................    0.001131    0.001788    0.001146    0.000788    0.000791    0.000788
46......................................    0.001185    0.002142    0.001211    0.000839    0.000896    0.000840
47......................................    0.001244    0.002554    0.001286    0.000889    0.001054    0.000893
48......................................    0.001304    0.003026    0.001366    0.000962    0.001265    0.000972
49......................................    0.001368    0.003557    0.001457    0.001039    0.001528    0.001059
50......................................    0.001434    0.004146    0.001557    0.001149    0.001844    0.001184
51......................................    0.001500    0.004226    0.001636    0.001272    0.001962    0.001312
52......................................    0.001570    0.004254    0.001754    0.001442    0.002173    0.001496
53......................................    0.001681    0.004312    0.001932    0.001637    0.002445    0.001714
54......................................    0.001803    0.004369    0.002134    0.001861    0.002771    0.001969
55......................................    0.001986    0.004514    0.002508    0.002117    0.003155    0.002314
56......................................    0.002217    0.004749    0.003020    0.002414    0.003608    0.002755
57......................................    0.002488    0.005069    0.003464    0.002696    0.004088    0.003170
58......................................    0.002803    0.005501    0.003990    0.002947    0.004588    0.003583
59......................................    0.003095    0.005972    0.004529    0.003223    0.005156    0.004066
60......................................    0.003421    0.006539    0.005177    0.003521    0.005780    0.004640
61......................................    0.003860    0.007284    0.006030    0.003838    0.006450    0.005354
62......................................    0.004244    0.008024    0.006929    0.004170    0.007168    0.006148
63......................................    0.004746    0.008989    0.008099    0.004513    0.007932    0.007084
64......................................    0.005154    0.009947    0.009159    0.004862    0.008758    0.007996
65......................................    0.005553    0.011015    0.010377    0.005213    0.009662    0.009018
66......................................    0.006073    0.012379    0.011951    0.005559    0.010640    0.010192
67......................................    0.006447    0.013705    0.013349    0.005896    0.011690    0.011323
68......................................    0.006650    0.014940    0.014641    0.006220    0.012838    0.012522
69......................................    0.006974    0.016504    0.016231    0.006528    0.014126    0.013843
70......................................    0.007115    0.017971    0.017689    0.006818    0.015607    0.015309
71......................................    0.008002    0.019884    0.019606    0.007450    0.017078    0.016784
72......................................    0.009777    0.022078    0.021822    0.008714    0.018995    0.018716
73......................................    0.012439    0.024592    0.024371    0.010610    0.020819    0.020577
74......................................    0.015988    0.027435    0.027256    0.013139    0.023074    0.022872
75......................................    0.020425    0.031057    0.030919    0.016299    0.025117    0.024967
76......................................    0.025749    0.034615    0.034523    0.020092    0.027673    0.027570
77......................................    0.031961    0.039054    0.038999    0.024516    0.030911    0.030846
78......................................    0.039059    0.044018    0.043992    0.029573    0.034074    0.034043
79......................................    0.047046    0.049617    0.049610    0.035261    0.037618    0.037610
80......................................    0.055919    0.055919    0.055919    0.041582    0.041582    0.041582
81......................................    0.063476    0.063476    0.063476    0.046024    0.046024    0.046024
82......................................    0.071926    0.071926    0.071926    0.051021    0.051021    0.051021
83......................................    0.080176    0.080176    0.080176    0.056651    0.056651    0.056651
84......................................    0.090433    0.090433    0.090433    0.063006    0.063006    0.063006
85......................................    0.100383    0.100383    0.100383    0.071188    0.071188    0.071188
86......................................    0.111295    0.111295    0.111295    0.080522    0.080522    0.080522
87......................................    0.125051    0.125051    0.125051    0.091080    0.091080    0.091080
88......................................    0.140385    0.140385    0.140385    0.101448    0.101448    0.101448
89......................................    0.155142    0.155142    0.155142    0.114246    0.114246    0.114246
90......................................    0.173400    0.173400    0.173400    0.126258    0.126258    0.126258
91......................................    0.188868    0.188868    0.188868    0.138648    0.138648    0.138648
92......................................    0.207683    0.207683    0.207683    0.151126    0.151126    0.151126
93......................................    0.224037    0.224037    0.224037    0.165722    0.165722    0.165722
94......................................    0.240367    0.240367    0.240367    0.177747    0.177747    0.177747
95......................................    0.260098    0.260098    0.260098    0.189133    0.189133    0.189133
96......................................    0.276058    0.276058    0.276058    0.199703    0.199703    0.199703

[[Page 4960]]

 
97......................................    0.291564    0.291564    0.291564    0.212246    0.212246    0.212246
98......................................    0.310910    0.310910    0.310910    0.220832    0.220832    0.220832
99......................................    0.325614    0.325614    0.325614    0.228169    0.228169    0.228169
100.....................................    0.339763    0.339763    0.339763    0.234164    0.234164    0.234164
101.....................................    0.358628    0.358628    0.358628    0.244834    0.244834    0.244834
102.....................................    0.371685    0.371685    0.371685    0.254498    0.254498    0.254498
103.....................................    0.383040    0.383040    0.383040    0.266044    0.266044    0.266044
104.....................................    0.392003    0.392003    0.392003    0.279055    0.279055    0.279055
105.....................................    0.397886    0.397886    0.397886    0.293116    0.293116    0.293116
106.....................................    0.400000    0.400000    0.400000    0.307811    0.307811    0.307811
107.....................................    0.400000    0.400000    0.400000    0.322725    0.322725    0.322725
108.....................................    0.400000    0.400000    0.400000    0.337441    0.337441    0.337441
109.....................................    0.400000    0.400000    0.400000    0.351544    0.351544    0.351544
110.....................................    0.400000    0.400000    0.400000    0.364617    0.364617    0.364617
111.....................................    0.400000    0.400000    0.400000    0.376246    0.376246    0.376246
112.....................................    0.400000    0.400000    0.400000    0.386015    0.386015    0.386015
113.....................................    0.400000    0.400000    0.400000    0.393507    0.393507    0.393507
114.....................................    0.400000    0.400000    0.400000    0.398308    0.398308    0.398308
115.....................................    0.400000    0.400000    0.400000    0.400000    0.400000    0.400000
116.....................................    0.400000    0.400000    0.400000    0.400000    0.400000    0.400000
117.....................................    0.400000    0.400000    0.400000    0.400000    0.400000    0.400000
118.....................................    0.400000    0.400000    0.400000    0.400000    0.400000    0.400000
119.....................................    0.400000    0.400000    0.400000    0.400000    0.400000    0.400000
120.....................................    1.000000    1.000000    1.000000    1.000000    1.000000    1.000000
----------------------------------------------------------------------------------------------------------------

    (e) Effective date. This section applies for plan years beginning 
on or after January 1, 2007.

    Approved: January 26, 2007.
Linda M. Kroening,
Acting Deputy Commissioner for Services and Enforcement.
Eric Solomon,
Assistant Secretary of the Treasury (Tax Policy).
[FR Doc. E7-1703 Filed 2-1-07; 8:45 am]
BILLING CODE 4830-01-P