The IRS has updated its mortality tables for defined benefit plans. For 2018, plan sponsors must use these new tables to determine funding requirements and to calculate lump sum payments. Read the IRS announcement and review the tables in Notice 2017-60, and make sure your plan makes whatever adjustments is necessary for the 2018 plan year.
Do you want to use plan-specific mortality tables? The IRS has streamlined the procedure for requesting approval. Read Rev. Proc. 2017-55 to find out more.