Save time with our cheat sheets, fact sheets, checklists & books!

February 16, 2009

Life Expectancy

Your Guide

Print

Definition

The number of years that a participant is expected to live, as defined by regulations. Life expectancies are provided in the life-expectancy tables, which include the following:

  1. The Single Life Table,  which is used only by beneficiaries to calculate RMD amounts after the death of the participant.
  2. The Uniform Lifetime Table, which is used to calculate RMD amounts for the participant. This is used in all cases, except where the Joint and Last Survivor Table can be used
  3. The Joint and Last Survivor Table, which is used to calculate RMD amounts for the participant, but only  if the spouse of the participant is the sole primary beneficiary and is more than 1-years younger than the participant

For substantially equal periodic payments (SEPP),  the Single Life , Uniform Lifetime or the Joint and Last Survivor Table may be used to calculate SEPP amounts

The life expectancy tables can be found in IRS Publication 590 and Revenue Ruling 2002-62

Referring Cite

Treas. Regs. § 1.401(a)(9)-9, Revenue Ruling 2002-62.

Additional Helpful Information

  • The Single Life Table, Uniform Lifetime Table and Joint and Last Survivor Table may be changed by the Commissioner in revenue rulings, notices, and other guidance published in Internal Revenue Bulletins
  • The life expectancy tables can be found in IRS Publication 590 and Revenue Ruling 2002-62
  • Uniform Lifetime Table, for use by:
    • Unmarried retirement account owners,
    • Married retirement account owners, whose spouses are not more than 10 years younger, and
    • Married retirement account owners, whose spouses are not the sole primary beneficiaries of their retirement accounts
More

Keep Learning

Domestic abuse distribution

A domestic abuse distribution is one that is made to domestic abuse victim, during the 1-year period beginning on any date on which the individual

Eligible retirement plan

The term “eligible retirement plan”, means a retirement plan to which a rollover contribution can be made. These are: (i)an individual retirement account described in

Qualified See-Through Trust beneficiary

Definition A qualified trust beneficiary is a trust that satisfies the requirements so as to be treated as a designated beneficiary.   For retirement accounts inherited

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Be among the first to know when

IRA Rules
Change