On October 27, 2014, the Society of Actuaries published its (new) RP-2014 Mortality Tables recommending new mortality tables for the valuation of defined benefit plan liabilities. The new tables significantly increase life expectancy assumptions and, if adopted by regulators and DB plan actuaries, will significantly increase DB plan liability valuations for purposes of disclosure, funding and de-risking.
So far the IRS has not incorporated this new table and they might not have to as the American people seem to have stumbled upon their own solution to the pension crisis.
According to the Center for Disease Control:
For the first time in more than two decades, life expectancy for Americans declined last year — a troubling development linked to a panoply of worsening health problems in the United States.
Rising fatalities from heart disease and stroke, diabetes, drug overdoses, accidents and other conditions caused the lower life expectancy revealed in a report released Thursday by the National Center for Health Statistics. In all, death rates rose for eight of the top 10 leading causes of death.