For the last several years we have used a single mortality table (83GAM) for the ERISA valuation, PBGC premiums, current liability, and FAS87.

Now along comes RP-2000 that we must use for 2007 current liability, at a minimum. (Is there anything else we have to use it for?) We'll choose the two combined tables rather than worry about the annuitant/nonannuitant split.

It seems we could use these tables for the ERISA valuation, PBGC premiums, and FAS87 for 2007 also. But if we do that, is there anything in the new PPA that will require us to make to make yet another change for any of those purposes in 2008? Will we be required to start using the annuitant/nonannuitant split, for example?

To be determined, but probably the same rules as 2007 for mortality.
Some of the IRS actuaries appear to want the separate tables for retirees vs all others.
Small plans will probably be able to keep the unified table.
Don't forget, the table will have another year of projection for 2008, so it won't be "the same table"

1. Will the IRS re-publish the table each year or will the actuary have to figure it out?

2. Since it isn't "the same table," won't that be a change in actuarial assumptions?

3. "To be determined" - by who and when?

1. I expect the IRS to republish each year, but the principles involved are well known
to the actuarial community, so we should be able to create the table without the IRS.

2. The IRS did consider the change in assumptions, and it is looking for a new base for 2007
if the funding method establishes bases. In 2008, this won't matter.

3. My reading of 2008 is that the IRS has not yet finalized their position and won't commit yet.