You are subscribed to What's New for Practitioners updates for the Pension Benefit Guaranty Corporation (PBGC). PBGC has recently posted the following update to the What's New for Practitioners webpage:
Expected Retirement Age Annual Update: On November 29, 2023, PBGC published a final rule amending its valuation regulation (29 CFR 4044) by substituting a new table for selecting the “retirement rate category.” The new table is used to determine the applicable expected retirement age (“XRA”) for participants in single-employer plans with 2024 valuation dates. XRA is one of the assumptions used to determine liabilities under ERISA section 4044 (per 29 CFR 4044). A copy of the table is available on PBGC’s ERISA Section 4044 Retirement Assumptions. (11/29/2023)
