Society of Actuaries releases new mortality tables

The Society of Actuaries has released updated mortality tables to help retirement plan sponsors more accurately estimate the financial obligations associated with their plans. The updated tables, which show that longevity in the U.S. is increasing, establish a new benchmark for mortality rates of private pension plan participants in the U.S. and were produced as two reports that include both new mortality tables and an updated mortality improvement scale.

“The updated tables and mortality improvement scale reflect that private pension plan participants are, in fact, living longer,” said Dale Hall, managing director of research for the SOA. “The purpose of the new reports is to provide reliable data that actuaries can use to assist plan sponsors and policy makers in assessing the financial implications of longer lives.”
The new tables, which are an update to the RP-2000 mortality tables (published in 2000) and the mortality projection scale (published in 2012) were developed by the SOA’s Retirement Plans Experience Committee.

Source: Society of Actuaries press release, October 27, 2014.

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