§ 1.430(h)(3)-1  Mortality tables used to determine present value.

(a) Overview

(1) Standard mortality tables. This section sets forth rules for the mortality tables to be used in determining present value or making any computation under section 430. These mortality tables include—

(i) Generational mortality tables described in paragraph (b) of this section; and

(ii) Static mortality tables for small plans described in paragraph (c) of this section.

(2) Alternative tables

(i) Plan-specific mortality tables. In lieu of using the mortality tables provided under this section, plan-specific substitute mortality tables are permitted to be used for purposes of section 430 pursuant to section 430(h)(3)(C), provided that the requirements of § 1.430(h)(3)-2 are satisfied.

(ii) Disabled individuals. In lieu of using the mortality tables provided under this section, mortality tables for disabled individuals are permitted to be used pursuant to section 430(h)(3)(D). These tables are provided in guidance published in the Internal Revenue Bulletin. See § 601.601(d) of this chapter.

(3) Individuals not identified as either male or female. The mortality tables in this section are applied for an individual based on the individual's gender. With respect to the portion of a plan's population for which male or female gender is not identified (for example, because an individual identifies as nonbinary or because the gender information for an individual is not available), the plan's actuary must use a reasonable approach for determining liability. Some reasonable approaches for these individuals include—

(i) Determining the liability for an individual for whom male or female gender is not identified as the weighted average of the liability calculated as if the individual were male and the liability calculated as if the individual were female, with an appropriate weighting that takes into account the distribution of gender for individuals in the plan's population for whom gender is identified; and

(ii) Assigning either male or female status randomly to an individual for whom male or female gender is not identified in a manner that is expected to result in an appropriate proportion of males and females for the plan's population that takes into account the distribution of gender for individuals in the plan's population for whom gender is identified.

(b) Generational mortality tables

(1) In general

(i) Construction of generational mortality tables. The generational mortality tables that are permitted to be used under section 430(h)(3)(A) and paragraph (a)(1)(i) of this section are constructed from the base mortality tables described in paragraph (b)(1)(ii) of this section and the mortality improvement rates described in paragraph (b)(1)(iii) of this section, as adjusted in accordance with paragraph (b)(1)(v) of this section.

(ii) Base mortality tables. The base mortality tables are set forth in paragraph (d) of this section.

(iii) Mortality improvement rates

(A) Mortality improvement rates for valuation dates occurring on or after January 1, 2024. Except as otherwise provided in this paragraph (b)(1)(iii), the mortality improvement rates for valuation dates occurring on or after January 1, 2024, are the 2024 Adjusted Scale MP-2021 Rates as incorporated by reference pursuant to paragraph (b)(1)(iv)(A) of this section.

(B) [Reserved.]

(iv) Incorporation by reference. The material listed in this paragraph (b)(1)(iv) 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 material is available for inspection at the IRS and at the National Archives and Records Administration (NARA). Contact IRS at: IRS Office of Chief Counsel, Qualified Plans Branch 1, CC:EEE:EB:QP1, 1111 Constitution Avenue NW, Washington, DC 20224; (202) 317-6700; www.irs.gov/retirement-plans/pension-plan-mortality-tables. For information on the availability of this material at NARA, visit www.archives.gov/federal-register/cfr/ibr-locations or email fr.inspection@nara.gov. The material may be obtained from IRS: www.irs.gov/retirement-plans/pension-plan-mortality-tables.

(A) 2024 Adjusted Scale MP-2021 Rates, dated August 11, 2023.

(B) [Reserved]

(2) Application of mortality improvement rates

(i) In general. Under the generational mortality tables described in this paragraph (b), 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 (d) 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 the base year for those mortality tables through the calendar year in which the individual is projected to reach the particular age. Paragraph (b)(3) of this section provides an example that shows how the base mortality tables in paragraph (d) of this section and the mortality improvement rates for valuation dates occurring during 2024 are combined to determine projected mortality rates.

(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.

(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.

(3) Example of calculation

(i) Calculation of mortality rate. The mortality rate for 2024 that is applied to a male annuitant who is age 68 in 2024 is equal to the product of the mortality rate under paragraph (d) of this section for a male annuitant who was age 68 in 2012 (0.01418) and the cumulative mortality improvement factor calculated from the 2024 Adjusted Scale MP-2021 Rates for an age 68 male from 2012 to 2024. The cumulative mortality improvement factor for age 68 males for the period from 2012 to 2024 is 0.9827, and the mortality rate for 2024 for male annuitants who are age 68 in that year is 0.01393, as shown in the following table.

Table 1 to Paragraph (b)(3)(i)

Calendar year Rate of mortality improvement from prior year to current year Annual mortality improvement factor (1 − mortality improvement rate) Cumulative mortality improvement factor Mortality rate 2012 n/a n/a n/a 0.01418 2013 0.0071 0.9929 0.9929 2014 0.0047 0.9953 0.9882 2015 0.0029 0.9971 0.9854 2016 0.0017 0.9983 0.9837 2017 0.0009 0.9991 0.9828 2018 0.0001 0.9999 0.9827 2019 (0.0001) 1.0001 0.9828 2020 0.0001 0.9999 0.9827 2021 0.0000 1.0000 0.9827 2022 0.0000 1.0000 0.9827 2023 0.0000 1.0000 0.9827 2024 0.0000 1.0000 0.9827 0.01393

(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, for purposes of calculating the present value (for a 2024 valuation date) of future payments in a benefit stream payable for a male annuitant who is age 68 in 2024, the probability of survival for the annuitant is based on the mortality rate for a male annuitant who is age 68 in 2024 (0.01393), and the projected mortality rate for a male annuitant who will be age 69 in 2025 (0.01507), age 70 in 2026 (0.01635), and so on.

(4) Use of the tables

(i) Separate tables for annuitants and non-annuitants. Separate mortality tables are provided for use with respect to 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 with respect to the portion of the benefit that has commenced and treated as a non-annuitant with respect to the balance of the benefit. In addition, with respect to 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.

(ii) Examples of calculation using separate non-annuitant and annuitant tables. With respect to a 45-year-old active participant who is projected to commence receiving an annuity at age 55, the funding target is 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, the funding target is 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.

(c) Static mortality tables

(1) Availability of alternative tables for small plans

(i) In general. As an alternative to the generational mortality tables defined in paragraph (b) of this section, static mortality tables may be used for a small plan. The static mortality tables described in this paragraph (c) are constructed from the separate non-annuitant and annuitant static mortality tables described in paragraph (c)(2)(i) of this section, combined using the procedure described in paragraph (c)(2)(ii) of this section.

(ii) Definition of small plan. For purposes of this paragraph (c), a small plan is defined as a plan with 500 or fewer total participants (including both active and inactive participants and beneficiaries of deceased participants) on the valuation date.

(iii) Use of static mortality tables. The static mortality tables that are used for a valuation date are the static mortality tables for the calendar year that includes the valuation date.

(iv) Publication of mortality tables. The static mortality tables for the 2024 calendar year are set forth in paragraph (e) of this section.

(2) Development of static mortality tables

(i) Non-annuitant and annuitant mortality tables. The non-annuitant and annuitant static mortality tables are determined using the base mortality tables described in paragraph (b)(1)(ii) of this section. The rates in those base mortality tables are adjusted using the mortality improvement rates described in paragraph (b)(1)(iii) of this section, in accordance with the rules set forth in paragraph (c)(3) of this section.

(ii) Combined static mortality tables. The static mortality tables described in this paragraph (c) are constructed from the separate non-annuitant and annuitant static mortality tables pursuant to paragraph (c)(2)(i) of this section, blended using the weighting factors in paragraph (d) of this section. The weighting factors are applied to develop these combined static tables using the following equation: Combined mortality rate = [non-annuitant rate * (1 − weighting factor)] + [annuitant rate * weighting factor].

(3) Projection of mortality improvements

(i) General rule. Except as provided in paragraph (c)(3)(iii) of this section, the static mortality tables for a calendar year are determined by multiplying the applicable mortality rate for each age from the base mortality tables by both—

(A) The cumulative mortality improvement factor (determined under paragraph (b)(2)(ii) of this section) for the period from 2012 through that calendar year; and

(B) The cumulative mortality improvement factor (determined under paragraph (b)(2)(ii) of this section) for the period beginning in that calendar year and continuing beyond that calendar year for the number of years in the projection period described in paragraph (c)(3)(ii) of this section.

(ii) Projection period for static mortality tables

(A) In general. The projection period is 8 years for males and 9 years for females, as adjusted based on age as provided in paragraph (c)(3)(ii)(B) of this section.

(B) Age adjustment. For ages below 80, the projection period is increased by 1 year for each year below age 80. For ages above 80, the projection period is reduced (but not below zero) by 1/3 year for each year above 80.

(iii) Fractional projection periods. If for an age the number of years in the projection period determined under paragraph (c)(3)(ii) of this section is not a whole number, then the mortality rate for that age is determined by using linear interpolation between—

(A) The mortality rate for that age that would be determined under paragraph (c)(3)(i) of this section if the number of years in the projection period were the next lower whole number; and

(B) The mortality rate for that age that would be determined under paragraph (c)(3)(i) of this section if the number of years in the projection period were the next higher whole number.

(iv) Example. For example, at age 85 the projection period for a male is 6 1/3 years (8 years minus 1/3 year for each of the 5 years above age 80). For a valuation date in 2024, the mortality rate in the static mortality table for an 85-year-old male is based on a projection of mortality improvement for 6 1/3 years beyond 2024. Under paragraph (c)(3)(iii) of this section, the mortality rate for an 85-year-old male annuitant in the static mortality table for 2024 is 2/3 times the projected mortality rate for a male annuitant that age in 2030 plus 1/3 times the projected mortality rate for a male annuitant that age in 2031. Accordingly, the mortality rate for an 85-year-old male annuitant in the static mortality table for 2024 is 0.08126 ( 2/3 times the projected mortality rate for an 85-year-old male annuitant in 2030 (0.08146) plus 1/3 times the projected mortality rate for an 85-year-old male annuitant in 2031 (0.08086)).

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

Table 2 to Paragraph (d)

Age Males Females Non-annuitant Annuitant Weighting factor for small plan Non-annuitant Annuitant Weighting factor for small plans 0 0.00650 0.00650 0.0000 0.00544 0.00544 0.0000 1 0.00045 0.00045 0.0000 0.00038 0.00038 0.0000 2 0.00030 0.00030 0.0000 0.00023 0.00023 0.0000 3 0.00022 0.00022 0.0000 0.00018 0.00018 0.0000 4 0.00019 0.00019 0.0000 0.00013 0.00013 0.0000 5 0.00016 0.00016 0.0000 0.00012 0.00012 0.0000 6 0.00014 0.00014 0.0000 0.00011 0.00011 0.0000 7 0.00013 0.00013 0.0000 0.00010 0.00010 0.0000 8 0.00011 0.00011 0.0000 0.00009 0.00009 0.0000 9 0.00009 0.00009 0.0000 0.00009 0.00009 0.0000 10 0.00008 0.00008 0.0000 0.00009 0.00009 0.0000 11 0.00009 0.00009 0.0000 0.00009 0.00009 0.0000 12 0.00013 0.00013 0.0000 0.00010 0.00010 0.0000 13 0.00017 0.00017 0.0000 0.00012 0.00012 0.0000 14 0.00022 0.00022 0.0000 0.00013 0.00013 0.0000 15 0.00028 0.00028 0.0000 0.00013 0.00013 0.0000 16 0.00034 0.00034 0.0000 0.00014 0.00014 0.0000 17 0.00040 0.00040 0.0000 0.00015 0.00015 0.0000 18 0.00046 0.00046 0.0000 0.00015 0.00015 0.0000 19 0.00053 0.00053 0.0000 0.00015 0.00015 0.0000 20 0.00056 0.00056 0.0000 0.00015 0.00015 0.0000 21 0.00056 0.00056 0.0000 0.00015 0.00015 0.0000 22 0.00056 0.00056 0.0000 0.00016 0.00016 0.0000 23 0.00055 0.00055 0.0000 0.00018 0.00018 0.0000 24 0.00055 0.00055 0.0000 0.00019 0.00019 0.0000 25 0.00054 0.00054 0.0000 0.00019 0.00019 0.0000 26 0.00054 0.00054 0.0000 0.00019 0.00019 0.0000 27 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 28 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 29 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 30 0.00055 0.00055 0.0000 0.00021 0.00021 0.0000 31 0.00055 0.00055 0.0000 0.00022 0.00022 0.0000 32 0.00056 0.00056 0.0000 0.00023 0.00023 0.0000 33 0.00058 0.00058 0.0000 0.00025 0.00025 0.0000 34 0.00059 0.00059 0.0000 0.00026 0.00026 0.0000 35 0.00061 0.00061 0.0000 0.00028 0.00028 0.0000 36 0.00063 0.00063 0.0000 0.00031 0.00031 0.0000 37 0.00065 0.00065 0.0000 0.00034 0.00034 0.0000 38 0.00068 0.00068 0.0000 0.00036 0.00036 0.0000 39 0.00071 0.00071 0.0000 0.00040 0.00040 0.0000 40 0.00074 0.00074 0.0000 0.00043 0.00043 0.0000 41 0.00077 0.00082 0.0008 0.00047 0.00049 0.0010 42 0.00081 0.00099 0.0016 0.00051 0.00061 0.0020 43 0.00086 0.00124 0.0024 0.00055 0.00078 0.0030 44 0.00091 0.00158 0.0032 0.00060 0.00101 0.0040 45 0.00097 0.00200 0.0040 0.00065 0.00130 0.0051 46 0.00105 0.00251 0.0047 0.00071 0.00165 0.0061 47 0.00113 0.00310 0.0055 0.00077 0.00206 0.0071 48 0.00123 0.00378 0.0063 0.00083 0.00252 0.0081 49 0.00134 0.00454 0.0071 0.00090 0.00304 0.0091 50 0.00147 0.00539 0.0079 0.00098 0.00362 0.0101 51 0.00161 0.00544 0.0140 0.00107 0.00426 0.0185 52 0.00177 0.00565 0.0209 0.00116 0.00495 0.0262 53 0.00194 0.00588 0.0302 0.00126 0.00500 0.0349 54 0.00213 0.00616 0.0430 0.00137 0.00512 0.0449 55 0.00234 0.00647 0.0898 0.00148 0.00517 0.0853 56 0.00257 0.00686 0.1676 0.00161 0.00522 0.1535 57 0.00281 0.00728 0.2153 0.00175 0.00528 0.1923 58 0.00308 0.00770 0.2635 0.00190 0.00561 0.2291 59 0.00338 0.00811 0.3144 0.00206 0.00601 0.2680 60 0.00369 0.00848 0.3821 0.00224 0.00643 0.3192 61 0.00403 0.00882 0.4579 0.00243 0.00690 0.3731 62 0.00441 0.00918 0.5935 0.00264 0.00743 0.4705 63 0.00481 0.00960 0.7153 0.00287 0.00796 0.5668 64 0.00525 0.01014 0.7764 0.00312 0.00859 0.6230 65 0.00573 0.01087 0.8454 0.00339 0.00928 0.7172 66 0.00636 0.01178 0.9002 0.00380 0.01003 0.8006 67 0.00706 0.01288 0.9275 0.00427 0.01089 0.8414 68 0.00784 0.01418 0.9431 0.00480 0.01192 0.8658 69 0.00870 0.01564 0.9547 0.00540 0.01309 0.8857 70 0.00967 0.01729 0.9642 0.00606 0.01444 0.9046 71 0.01073 0.01914 0.9732 0.00681 0.01597 0.9240 72 0.01192 0.02121 0.9791 0.00765 0.01770 0.9365 73 0.01323 0.02354 0.9823 0.00860 0.01967 0.9437 74 0.01469 0.02613 0.9847 0.00966 0.02192 0.9512 75 0.01632 0.02905 0.9868 0.01085 0.02445 0.9568 76 0.01812 0.03233 0.9889 0.01219 0.02727 0.9637 77 0.02012 0.03604 0.9906 0.01370 0.03042 0.9682 78 0.02234 0.04026 0.9920 0.01539 0.03391 0.9727 79 0.02480 0.04504 0.9935 0.01729 0.03775 0.9765 80 0.02754 0.05046 1.0000 0.01943 0.04198 1.0000 81 0.02989 0.05657 1.0000 0.02134 0.04663 1.0000 82 0.03460 0.06343 1.0000 0.02516 0.05178 1.0000 83 0.04166 0.07114 1.0000 0.03089 0.05754 1.0000 84 0.05108 0.07977 1.0000 0.03853 0.06401 1.0000 85 0.06285 0.08946 1.0000 0.04808 0.07132 1.0000 86 0.07698 0.10032 1.0000 0.05955 0.07954 1.0000 87 0.09346 0.11248 1.0000 0.07293 0.08879 1.0000 88 0.11229 0.12600 1.0000 0.08822 0.09936 1.0000 89 0.13348 0.14088 1.0000 0.10542 0.11124 1.0000 90 0.15703 0.15703 1.0000 0.12453 0.12453 1.0000 91 0.17401 0.17401 1.0000 0.13818 0.13818 1.0000 92 0.19151 0.19151 1.0000 0.15250 0.15250 1.0000 93 0.20936 0.20936 1.0000 0.16737 0.16737 1.0000 94 0.22742 0.22742 1.0000 0.18274 0.18274 1.0000 95 0.24569 0.24569 1.0000 0.19863 0.19863 1.0000 96 0.26415 0.26415 1.0000 0.21509 0.21509 1.0000 97 0.28281 0.28281 1.0000 0.23214 0.23214 1.0000 98 0.30169 0.30169 1.0000 0.24983 0.24983 1.0000 99 0.32077 0.32077 1.0000 0.26814 0.26814 1.0000 100 0.33996 0.33996 1.0000 0.28698 0.28698 1.0000 101 0.35910 0.35910 1.0000 0.30619 0.30619 1.0000 102 0.37794 0.37794 1.0000 0.32549 0.32549 1.0000 103 0.39633 0.39633 1.0000 0.34472 0.34472 1.0000 104 0.41415 0.41415 1.0000 0.36375 0.36375 1.0000 105 0.43131 0.43131 1.0000 0.38243 0.38243 1.0000 106 0.44771 0.44771 1.0000 0.40065 0.40065 1.0000 107 0.46329 0.46329 1.0000 0.41828 0.41828 1.0000 108 0.47800 0.47800 1.0000 0.43522 0.43522 1.0000 109 0.49181 0.49181 1.0000 0.45139 0.45139 1.0000 110 0.50000 0.50000 1.0000 0.46673 0.46673 1.0000 111 0.50000 0.50000 1.0000 0.48120 0.48120 1.0000 112 0.50000 0.50000 1.0000 0.49477 0.49477 1.0000 113 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 114 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 115 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 116 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 117 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 118 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 119 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 120 1.00000 1.00000 1.0000 1.00000 1.00000 1.0000

(e) Static tables for 2024. The following static mortality tables are used pursuant to paragraph (a)(1)(ii) of this section for determining present value or making any computation under section 430 with respect to valuation dates occurring during 2024.

Table 3 to Paragraph (e)

Age Male Female 0 0.00356 0.00306 1 0.00025 0.00022 2 0.00017 0.00013 3 0.00012 0.00010 4 0.00011 0.00008 5 0.00009 0.00007 6 0.00008 0.00007 7 0.00008 0.00006 8 0.00006 0.00005 9 0.00005 0.00005 10 0.00005 0.00006 11 0.00005 0.00006 12 0.00008 0.00006 13 0.00010 0.00008 14 0.00013 0.00008 15 0.00017 0.00008 16 0.00021 0.00009 17 0.00025 0.00010 18 0.00029 0.00010 19 0.00034 0.00010 20 0.00036 0.00010 21 0.00037 0.00010 22 0.00037 0.00011 23 0.00038 0.00013 24 0.00039 0.00014 25 0.00040 0.00014 26 0.00041 0.00015 27 0.00043 0.00016 28 0.00044 0.00016 29 0.00046 0.00017 30 0.00049 0.00018 31 0.00050 0.00019 32 0.00053 0.00021 33 0.00056 0.00023 34 0.00059 0.00024 35 0.00062 0.00026 36 0.00065 0.00029 37 0.00067 0.00031 38 0.00070 0.00032 39 0.00072 0.00035 40 0.00074 0.00037 41 0.00075 0.00039 42 0.00077 0.00041 43 0.00079 0.00043 44 0.00081 0.00045 45 0.00084 0.00048 46 0.00088 0.00051 47 0.00092 0.00055 48 0.00098 0.00059 49 0.00104 0.00064 50 0.00113 0.00070 51 0.00124 0.00080 52 0.00137 0.00090 53 0.00153 0.00101 54 0.00173 0.00115 55 0.00206 0.00138 56 0.00253 0.00170 57 0.00296 0.00195 58 0.00344 0.00225 59 0.00397 0.00258 60 0.00458 0.00299 61 0.00523 0.00343 62 0.00615 0.00409 63 0.00703 0.00478 64 0.00774 0.00537 65 0.00861 0.00619 66 0.00957 0.00707 67 0.01054 0.00786 68 0.01163 0.00871 69 0.01283 0.00968 70 0.01419 0.01082 71 0.01575 0.01217 72 0.01750 0.01368 73 0.01949 0.01540 74 0.02175 0.01742 75 0.02433 0.01975 76 0.02729 0.02240 77 0.03069 0.02540 78 0.03460 0.02878 79 0.03912 0.03254 80 0.04442 0.03715 81 0.05008 0.04158 82 0.05649 0.04650 83 0.06372 0.05202 84 0.07192 0.05823 85 0.08126 0.06527 86 0.09180 0.07337 87 0.10364 0.08255 88 0.11688 0.09305 89 0.13148 0.10480 90 0.14733 0.11790 91 0.16404 0.13141 92 0.18111 0.14547 93 0.19847 0.16007 94 0.21588 0.17495 95 0.23319 0.19020 96 0.25152 0.20655 97 0.27010 0.22354 98 0.28899 0.24127 99 0.30836 0.25965 100 0.32788 0.27862 101 0.34742 0.29799 102 0.36672 0.31750 103 0.38574 0.33705 104 0.40436 0.35650 105 0.42191 0.37576 106 0.43897 0.39452 107 0.45520 0.41279 108 0.47064 0.43024 109 0.48536 0.44694 110 0.49448 0.46282 111 0.49552 0.47794 112 0.49656 0.49215 113 0.49756 0.49820 114 0.49870 0.49900 115 0.49975 0.49980 116 0.49990 0.49990 117 0.49995 0.50000 118 0.50000 0.50000 119 0.50000 0.50000 120 1.00000 1.00000

(f) Applicability date. This section applies for valuation dates occurring on or after January 1, 2024.