1. (a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits), the plan administrator shall use the mortality factors prescribed in paragraphs (c), (d), (e), (f), and (g) of this section to value benefits under § 4044.52.

2. (b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the valuation date to another person, who need not be identifiable on the valuation date, depends in whole or in part on the death of the pay status annuitant, then the plan administrator shall value the death benefit using—

   1. (1) The mortality rates that are applicable to the annuity in pay status under this section to represent the mortality of the pay status annuitant; and
   2. (2) The mortality rates under paragraph (c) of this section to represent the mortality of the death beneficiary.

3. (c) Healthy lives—(1) In general. If the individual is not disabled under paragraph (f) of this section, the plan administrator must value the benefit using generational mortality tables described in this paragraph (c).

   1. (i) Construction of generational mortality tables. The generational mortality tables in this paragraph (c) are constructed from the base mortality tables described in paragraph (c)(1)(ii) of this section and the mortality improvement rates described in paragraph (c)(1)(iii) of this section.
   2. (ii) Base mortality tables. The base mortality tables are set forth in paragraph (c)(5) of this section. The base year for those tables is 2012.
   3. (iii) Mortality improvement rates. The mortality improvement rates are the Scale MP-2021 Rates described in the Mortality Improvement Scale MP-2021 Report.
   4. (iv) Incorporation by reference. The Mortality Improvement Scale MP-2021 Report, October 2021 is incorporated by reference into this section with the approval of the Director of the Federal Register under 5 U.S.C. 552(a) and 1 CFR part 51. This incorporation by reference (IBR) material is available for inspection at PBGC and at the National Archives and Records Administration (NARA). Contact PBGC at: Disclosure Division, Office of the General Counsel, Pension Benefit Guaranty Corporation; 445 12th Street SW, Washington, DC 20024; 202-326-4040. For information on the availability of this material at NARA, visit www.archives.gov/federal-register/cfr/ibr-locations.html or email fr.inspection@nara.gov. The material may be obtained from the Society of Actuaries at: Society of Actuaries, 475 N. Martingale Rd., Suite 600, Schaumburg, IL 60173; (847) 706-3500; https://www.soa.org/resources/experience-studies/2021/mortality-improvement-scale-mp-2021.
   5. (2) Application of mortality improvement rates—(i) In general. Under the generational mortality tables described in this paragraph (c), the probability of an individual's death at a particular age in the future is determined as the individual's base mortality rate that applies at that age (that is, the applicable mortality rate from the tables set forth in paragraph (c)(5) of this section for that age, gender, and status as an annuitant or a non-annuitant) multiplied by the cumulative mortality improvement factor for the individual's gender and for that age for the period from 2012 through the calendar year in which the individual is projected to reach the particular age. Paragraph (c)(3) of this section provides an example that illustrates how the base mortality tables in paragraph (c)(5) of this section and the Scale MP-2021 mortality improvement rates are combined to determine projected mortality rates.
   6. (ii) Cumulative mortality improvement factor. The cumulative mortality improvement factor for an age and gender for a period is the product of the annual mortality improvement factors for that age and gender for each year within that period.
   7. (iii) Annual mortality improvement factor. The annual mortality improvement factor for an age and gender for a year is 1 minus the mortality improvement rate that applies for that age and gender for that year. If that annual mortality improvement rate is greater than 1 (corresponding to a negative mortality improvement rate), then the projected mortality rate for that age and gender for that year is greater than the projected mortality rate for the same age and gender for the preceding year.

   8. (3) Example of calculation using scale MP-2021 rates—(i) Calculation of mortality rate. The mortality rate that is applied to male annuitants who are age 67 in 2024 is equal to the product of the mortality rate for 2012 that applied to male annuitants who were age 67 in 2012 (0.01288) and the cumulative mortality improvement factor for age 67 males from 2012 to 2024. The cumulative mortality improvement factor for age 67 males for the period from 2012 to 2024 is 0.9867, and the mortality rate for 2024 for male annuitants who are age 67 in that year would be 0.01271, as shown in the following table.

      Table 1 to Paragraph (c)(3)(i)—Example Mortality Rate Calculation

      Calendar year	Scale MP-2021mortalityimprovementrate	Annual mortalityimprovementfactor(1-mortalityimprovementrate)	Cumulativemortalityimprovementfactor	Mortality rate
      2012	n/a	n/a	n/a	0.01288
      2013	0.0052	0.9948	0.9948
      2014	0.0027	0.9973	0.9921
      2015	0.0009	0.9991	0.9912
      2016	(0.0003)	1.0003	0.9915
      2017	(0.0010)	1.0010	0.9925
      2018	(0.0016)	1.0016	0.9941
      2019	(0.0016)	1.0016	0.9957
      2020	(0.0010)	1.0010	0.9967
      2021	0.0000	1.0000	0.9967
      2022	0.0015	0.9985	0.9952
      2023	0.0033	0.9967	0.9919
      2024	0.0052	0.9948	0.9867	0.01271

   9. (ii) Probability of survival for an individual. After the projected mortality rates are derived for each age for each year, the rates are used to calculate the present value of a benefit stream that depends on the probability of survival year-by-year. For example, using the Scale MP-2021 rates, for purposes of calculating the present value of future payments in a benefit stream payable for a male annuitant who is age 67 in 2024, the probability of survival for the annuitant is based on the mortality rate for a male annuitant who is age 67 in 2024 (0.01271), and the projected mortality rate for a male annuitant who will be age 68 in 2025 (0.01369), age 69 in 2026 (0.01478), and so on.
   10. (4) Use of the tables—(i) Separate tables for annuitants and non-annuitants. Separate mortality tables are provided for use for annuitants and non-annuitants. The non-annuitant mortality tables are applied to determine the probability of survival for a non-annuitant for the period before the non-annuitant is projected to commence receiving benefits. The annuitant mortality tables are applied to determine the present value of benefits for each annuitant. In addition, the annuitant mortality tables are applied for each non-annuitant with respect to each assumed commencement of benefits for the period beginning with that assumed commencement. For purposes of this section, an annuitant means a plan participant who has commenced receiving benefits, and a non-annuitant means a plan participant who has not yet commenced receiving benefits (for example, an active employee or a terminated vested participant). A participant whose benefit has partially commenced is treated as an annuitant for the portion of the benefit that has commenced and treated as a non-annuitant for the balance of the benefit. In addition, for a beneficiary of a participant, the annuitant mortality tables apply for the period beginning with each assumed commencement of benefits for the participant. If the participant has died (or to the extent the participant is assumed to die before commencing benefits), the annuitant mortality tables apply with respect to the beneficiary for the period beginning with each assumed commencement of benefits for the beneficiary.
   11. (ii) Examples of calculation using separate non-annuitant and annuitant tables. For a 45-year-old active participant who is projected to commence receiving an annuity at age 55, benefit liabilities are determined using the non-annuitant mortality tables for the period before the participant attains age 55 and using the annuitant mortality tables for the period ages 55 and above. Similarly, for a 45-year-old terminated vested participant who is projected to commence an annuity at age 65, benefit liabilities are determined using the non-annuitant mortality tables for the period before the participant attains age 65 and using the annuitant mortality tables for ages 65 and above.

   12. (5) Base mortality tables. The following are the base mortality tables. The base year for these tables is 2012.

       Table 2 to Paragraph (c)(5)—Healthy Lives Base Mortality Table

       Age	Males	Females
       Non-annuitant	Annuitant	Non-annuitant	Annuitant
       0	0.00650	0.00650	0.00544	0.00544
       1	0.00045	0.00045	0.00038	0.00038
       2	0.00030	0.00030	0.00023	0.00023
       3	0.00022	0.00022	0.00018	0.00018
       4	0.00019	0.00019	0.00013	0.00013
       5	0.00016	0.00016	0.00012	0.00012
       6	0.00014	0.00014	0.00011	0.00011
       7	0.00013	0.00013	0.00010	0.00010
       8	0.00011	0.00011	0.00009	0.00009
       9	0.00009	0.00009	0.00009	0.00009
       10	0.00008	0.00008	0.00009	0.00009
       11	0.00009	0.00009	0.00009	0.00009
       12	0.00013	0.00013	0.00010	0.00010
       13	0.00017	0.00017	0.00012	0.00012
       14	0.00022	0.00022	0.00013	0.00013
       15	0.00028	0.00028	0.00013	0.00013
       16	0.00034	0.00034	0.00014	0.00014
       17	0.00040	0.00040	0.00015	0.00015
       18	0.00046	0.00046	0.00015	0.00015
       19	0.00053	0.00053	0.00015	0.00015
       20	0.00056	0.00056	0.00015	0.00015
       21	0.00056	0.00056	0.00015	0.00015
       22	0.00056	0.00056	0.00016	0.00016
       23	0.00055	0.00055	0.00018	0.00018
       24	0.00055	0.00055	0.00019	0.00019
       25	0.00054	0.00054	0.00019	0.00019
       26	0.00054	0.00054	0.00019	0.00019
       27	0.00054	0.00054	0.00020	0.00020
       28	0.00054	0.00054	0.00020	0.00020
       29	0.00054	0.00054	0.00020	0.00020
       30	0.00055	0.00055	0.00021	0.00021
       31	0.00055	0.00055	0.00022	0.00022
       32	0.00056	0.00056	0.00023	0.00023
       33	0.00058	0.00058	0.00025	0.00025
       34	0.00059	0.00059	0.00026	0.00026
       35	0.00061	0.00061	0.00028	0.00028
       36	0.00063	0.00063	0.00031	0.00031
       37	0.00065	0.00065	0.00034	0.00034
       38	0.00068	0.00068	0.00036	0.00036
       39	0.00071	0.00071	0.00040	0.00040
       40	0.00074	0.00074	0.00043	0.00043
       41	0.00077	0.00082	0.00047	0.00049
       42	0.00081	0.00099	0.00051	0.00061
       43	0.00086	0.00124	0.00055	0.00078
       44	0.00091	0.00158	0.00060	0.00101
       45	0.00097	0.00200	0.00065	0.00130
       46	0.00105	0.00251	0.00071	0.00165
       47	0.00113	0.00310	0.00077	0.00206
       48	0.00123	0.00378	0.00083	0.00252
       49	0.00134	0.00454	0.00090	0.00304
       50	0.00147	0.00539	0.00098	0.00362
       51	0.00161	0.00544	0.00107	0.00426
       52	0.00177	0.00565	0.00116	0.00495
       53	0.00194	0.00588	0.00126	0.00500
       54	0.00213	0.00616	0.00137	0.00512
       55	0.00234	0.00647	0.00148	0.00517
       56	0.00257	0.00686	0.00161	0.00522
       57	0.00281	0.00728	0.00175	0.00528
       58	0.00308	0.00770	0.00190	0.00561
       59	0.00338	0.00811	0.00206	0.00601
       60	0.00369	0.00848	0.00224	0.00643
       61	0.00403	0.00882	0.00243	0.00690
       62	0.00441	0.00918	0.00264	0.00743
       63	0.00481	0.00960	0.00287	0.00796
       64	0.00525	0.01014	0.00312	0.00859
       65	0.00573	0.01087	0.00339	0.00928
       66	0.00636	0.01178	0.00380	0.01003
       67	0.00706	0.01288	0.00427	0.01089
       68	0.00784	0.01418	0.00480	0.01192
       69	0.00870	0.01564	0.00540	0.01309
       70	0.00967	0.01729	0.00606	0.01444
       71	0.01073	0.01914	0.00681	0.01597
       72	0.01192	0.02121	0.00765	0.01770
       73	0.01323	0.02354	0.00860	0.01967
       74	0.01469	0.02613	0.00966	0.02192
       75	0.01632	0.02905	0.01085	0.02445
       76	0.01812	0.03233	0.01219	0.02727
       77	0.02012	0.03604	0.01370	0.03042
       78	0.02234	0.04026	0.01539	0.03391
       79	0.02480	0.04504	0.01729	0.03775
       80	0.02754	0.05046	0.01943	0.04198
       81	0.02989	0.05657	0.02134	0.04663
       82	0.03460	0.06343	0.02516	0.05178
       83	0.04166	0.07114	0.03089	0.05754
       84	0.05108	0.07977	0.03853	0.06401
       85	0.06285	0.08946	0.04808	0.07132
       86	0.07698	0.10032	0.05955	0.07954
       87	0.09346	0.11248	0.07293	0.08879
       88	0.11229	0.12600	0.08822	0.09936
       89	0.13348	0.14088	0.10542	0.11124
       90	0.15703	0.15703	0.12453	0.12453
       91	0.17401	0.17401	0.13818	0.13818
       92	0.19151	0.19151	0.15250	0.15250
       93	0.20936	0.20936	0.16737	0.16737
       94	0.22742	0.22742	0.18274	0.18274
       95	0.24569	0.24569	0.19863	0.19863
       96	0.26415	0.26415	0.21509	0.21509
       97	0.28281	0.28281	0.23214	0.23214
       98	0.30169	0.30169	0.24983	0.24983
       99	0.32077	0.32077	0.26814	0.26814
       100	0.33996	0.33996	0.28698	0.28698
       101	0.35910	0.35910	0.30619	0.30619
       102	0.37794	0.37794	0.32549	0.32549
       103	0.39633	0.39633	0.34472	0.34472
       104	0.41415	0.41415	0.36375	0.36375
       105	0.43131	0.43131	0.38243	0.38243
       106	0.44771	0.44771	0.40065	0.40065
       107	0.46329	0.46329	0.41828	0.41828
       108	0.47800	0.47800	0.43522	0.43522
       109	0.49181	0.49181	0.45139	0.45139
       110	0.50000	0.50000	0.46673	0.46673
       111	0.50000	0.50000	0.48120	0.48120
       112	0.50000	0.50000	0.49477	0.49477
       113	0.50000	0.50000	0.50000	0.50000
       114	0.50000	0.50000	0.50000	0.50000
       115	0.50000	0.50000	0.50000	0.50000
       116	0.50000	0.50000	0.50000	0.50000
       117	0.50000	0.50000	0.50000	0.50000
       118	0.50000	0.50000	0.50000	0.50000
       119	0.50000	0.50000	0.50000	0.50000
       120	1.00000	1.00000	1.00000	1.00000

4. (d) Social Security disabled lives. If the individual is Social Security disabled under paragraph (f)(1) of this section, the plan administrator will value the benefit using the following table.

   Table 3 to Paragraph (d)—Social Security Disabled Lives Mortality Table

   Age	Male	Female
   16	0.012544	0.004759
   17	0.007102	0.006541
   18	0.005859	0.008035
   19	0.009998	0.008369
   20	0.008926	0.009224
   21	0.008533	0.008144
   22	0.008158	0.008616
   23	0.008970	0.008127
   24	0.008433	0.008318
   25	0.008696	0.008851
   26	0.009211	0.008002
   27	0.009362	0.008694
   28	0.009780	0.009477
   29	0.010049	0.009664
   30	0.011093	0.009417
   31	0.011075	0.009985
   32	0.010931	0.010524
   33	0.011890	0.010648
   34	0.012529	0.011252
   35	0.012418	0.011450
   36	0.013234	0.011448
   37	0.013832	0.012135
   38	0.014457	0.012579
   39	0.015830	0.012619
   40	0.016153	0.013578
   41	0.016859	0.014243
   42	0.017464	0.014520
   43	0.018302	0.014773
   44	0.019127	0.015630
   45	0.020380	0.016131
   46	0.021607	0.016874
   47	0.023407	0.017547
   48	0.023956	0.018198
   49	0.025631	0.019281
   50	0.026384	0.019413
   51	0.027277	0.020343
   52	0.028582	0.020488
   53	0.030164	0.021316
   54	0.031262	0.021960
   55	0.031728	0.021969
   56	0.033067	0.022897
   57	0.034230	0.023556
   58	0.035474	0.024159
   59	0.036790	0.024958
   60	0.037772	0.025905
   61	0.039297	0.027414
   62	0.039954	0.028394
   63	0.041069	0.029795
   64	0.042280	0.030776
   65	0.039144	0.028230
   66	0.043862	0.031667
   67	0.046182	0.033318
   68	0.048624	0.034728
   69	0.052077	0.037341
   70	0.055284	0.039491
   71	0.058951	0.042134
   72	0.062301	0.044962
   73	0.067099	0.047548
   74	0.071469	0.051148
   75	0.075068	0.055271
   76	0.080425	0.059382
   77	0.085531	0.063489
   78	0.091585	0.068675
   79	0.098383	0.074929
   80	0.104788	0.080536
   81	0.113110	0.088455
   82	0.122062	0.094573
   83	0.131697	0.103589
   84	0.140430	0.111345
   85	0.151890	0.122160
   86	0.165777	0.130844
   87	0.176875	0.142631
   88	0.188397	0.156112
   89	0.206651	0.166591
   90	0.223252	0.182064
   91	0.235073	0.197059
   92	0.249318	0.205768
   93	0.267740	0.225325
   94	0.277033	0.240441
   95	0.284003	0.260724
   96	0.298740	0.281817
   97	0.313086	0.293156
   98	0.328740	0.308400
   99	0.345177	0.324436
   100	0.362436	0.341307
   101	0.380558	0.359055
   102	0.399586	0.377726
   103	0.419565	0.397368
   104	0.440543	0.418031
   105	0.462571	0.439768
   106	0.485699	0.462636
   107	0.509984	0.486693
   108	0.535483	0.512001
   109	0.562257	0.538626
   110	0.590370	0.566634
   111+	1.000000	1.000000

5. (e) Non-Social Security disabled lives. If the individual is non-Social Security disabled under paragraph (f)(2) of this section, the plan administrator will value the benefit using generational mortality tables described in paragraph (c) of this section.

6. (f) Definitions of disability—(1) Social Security disabled. A participant is Social Security disabled if, on the valuation date, the participant is less than age 65 and has a benefit in pay status that—

   1. (i) Is being received as a disability benefit under a plan provision requiring either receipt of or eligibility for Social Security disability benefits, or
   2. (ii) Was converted under the plan's terms from a disability benefit under a plan provision requiring either receipt of or eligibility for Social Security disability benefits to an early or normal retirement benefit for any reason other than a change in the participant's health status.

   3. (2) Non-Social Security disabled. A participant is non-Social Security disabled if, on the valuation date, the participant is less than age 65, is not Social Security disabled, and has a benefit in pay status that—

      1. (i) Is being received as a disability benefit under the plan, or
      2. (ii) Was converted under the plan's terms from a disability benefit to an early or normal retirement benefit for any reason other than a change in the participant's health status.
7. (g) Contingent annuitant mortality during deferral period. If a participant's joint and survivor benefit is valued as a deferred annuity, the mortality of the contingent annuitant during the deferral period will be disregarded.

8. (h) Missing participants mortality. The following mortality table is used to value benefits using “PBGC missing participants assumptions” under part 4050, subparts A, C, and D of this chapter.

   Table 4 to Paragraph (h)—Missing Participants Unisex Mortality Table

   Age	Benefit determinationdates in 2024	Benefit determinationdates in 2025	Benefit determinationdates in 2026
   0	0.00207	0.00204	0.00202
   1	0.00015	0.00014	0.00014
   2	0.00010	0.00009	0.00009
   3	0.00008	0.00007	0.00007
   4	0.00006	0.00006	0.00006
   5	0.00006	0.00005	0.00005
   6	0.00005	0.00005	0.00005
   7	0.00005	0.00005	0.00005
   8	0.00004	0.00004	0.00004
   9	0.00004	0.00004	0.00003
   10	0.00004	0.00004	0.00004
   11	0.00004	0.00004	0.00004
   12	0.00005	0.00005	0.00005
   13	0.00006	0.00006	0.00006
   14	0.00008	0.00007	0.00007
   15	0.00009	0.00009	0.00008
   16	0.00010	0.00010	0.00010
   17	0.00012	0.00012	0.00012
   18	0.00014	0.00014	0.00014
   19	0.00016	0.00015	0.00015
   20	0.00016	0.00016	0.00016
   21	0.00017	0.00016	0.00016
   22	0.00017	0.00017	0.00017
   23	0.00018	0.00018	0.00018
   24	0.00019	0.00019	0.00019
   25	0.00020	0.00019	0.00019
   26	0.00021	0.00020	0.00020
   27	0.00022	0.00021	0.00021
   28	0.00023	0.00022	0.00022
   29	0.00023	0.00023	0.00023
   30	0.00025	0.00025	0.00024
   31	0.00026	0.00026	0.00026
   32	0.00028	0.00027	0.00027
   33	0.00030	0.00030	0.00030
   34	0.00032	0.00031	0.00031
   35	0.00034	0.00034	0.00033
   36	0.00036	0.00036	0.00035
   37	0.00038	0.00038	0.00037
   38	0.00040	0.00040	0.00039
   39	0.00043	0.00042	0.00041
   40	0.00044	0.00044	0.00043
   41	0.00046	0.00045	0.00044
   42	0.00048	0.00047	0.00046
   43	0.00049	0.00049	0.00048
   44	0.00052	0.00051	0.00050
   45	0.00054	0.00053	0.00052
   46	0.00058	0.00057	0.00056
   47	0.00061	0.00060	0.00059
   48	0.00065	0.00064	0.00064
   49	0.00070	0.00069	0.00068
   50	0.00076	0.00076	0.00075
   51	0.00085	0.00084	0.00083
   52	0.00095	0.00094	0.00092
   53	0.00106	0.00105	0.00103
   54	0.00120	0.00118	0.00117
   55	0.00143	0.00141	0.00139
   56	0.00177	0.00174	0.00172
   57	0.00205	0.00202	0.00200
   58	0.00239	0.00235	0.00232
   59	0.00276	0.00273	0.00269
   60	0.00321	0.00317	0.00313
   61	0.00370	0.00365	0.00360
   62	0.00441	0.00434	0.00428
   63	0.00514	0.00507	0.00500
   64	0.00577	0.00570	0.00562
   65	0.00658	0.00650	0.00641
   66	0.00748	0.00738	0.00729
   67	0.00834	0.00823	0.00813
   68	0.00928	0.00916	0.00904
   69	0.01034	0.01021	0.01008
   70	0.01155	0.01141	0.01127
   71	0.01294	0.01278	0.01262
   72	0.01452	0.01435	0.01417
   73	0.01631	0.01611	0.01592
   74	0.01837	0.01815	0.01794
   75	0.02073	0.02049	0.02025
   76	0.02345	0.02317	0.02291
   77	0.02656	0.02626	0.02596
   78	0.03012	0.02979	0.02945
   79	0.03417	0.03382	0.03345
   80	0.03899	0.03862	0.03823
   81	0.04395	0.04356	0.04315
   82	0.04959	0.04916	0.04872
   83	0.05595	0.05549	0.05502
   84	0.06317	0.06267	0.06217
   85	0.07138	0.07083	0.07029
   86	0.08063	0.08005	0.07947
   87	0.09107	0.09044	0.08982
   88	0.10286	0.10220	0.10154
   89	0.11596	0.11526	0.11457
   90	0.13036	0.12962	0.12889
   91	0.14540	0.14463	0.14387
   92	0.16090	0.16012	0.15933
   93	0.17679	0.17601	0.17522
   94	0.19284	0.19206	0.19127
   95	0.20898	0.20822	0.20745
   96	0.22620	0.22545	0.22467
   97	0.24386	0.24311	0.24234
   98	0.26196	0.26123	0.26048
   99	0.28059	0.27986	0.27912
   100	0.29960	0.29887	0.29814
   101	0.31891	0.31817	0.31746
   102	0.33825	0.33748	0.33676
   103	0.35757	0.35673	0.35595
   104	0.37670	0.37583	0.37502
   105	0.39521	0.39436	0.39354
   106	0.41327	0.41245	0.41166
   107	0.43080	0.42999	0.42921
   108	0.44743	0.44667	0.44595
   109	0.46339	0.46271	0.46204
   110	0.47628	0.47568	0.47508
   111	0.48468	0.48417	0.48366
   112	0.49268	0.49226	0.49184
   113	0.49666	0.49634	0.49602
   114	0.49795	0.49773	0.49751
   115	0.49928	0.49915	0.49903
   116	0.49960	0.49953	0.49945
   117	0.49978	0.49973	0.49968
   118	0.49995	0.49993	0.49990
   119	0.50000	0.50000	0.50000
   120	1.00000	1.00000	1.00000

[70 FR 72207, Dec. 2, 2005, as amended at 89 FR 48300, June 6, 2024; 89 FR 104041, Dec. 20, 2024; 90 FR 59973, Dec. 23, 2025]