General Provisions
Trusteed Plans
Expected Retirement Age
Non-Trusteed Plans
- APPENDIX Appendix A - Appendix A to Part 4044—Mortality Rate Tables
- APPENDIX Appendix B - Appendix B to Part 4044—Interest Rates Used To Value Benefits
- APPENDIX Appendix C - Appendix C to Part 4044—Loading Assumptions
- APPENDIX Appendix D - Appendix D to Part 4044—Tables Used To Determine Expected Retirement Age
General Provisions
§ 4044.41 - General valuation rules.
(a) Valuation of benefits—(1) Trusteed plans. The plan administrator of a plan that has been or will be placed into trusteeship by the PBGC shall value plan benefits in accordance with §§ 4044.51 through 4044.57.
(2) Non-trusteed plans. The plan administrator of a non-trusteed plan shall value plan benefits in accordance with §§ 4044.71 through 4044.75. If a plan is unable to satisfy all benefits assigned to priority categories 1 through 4 on the distribution date, the PBGC will place it into trusteeship and the plan administrator shall re-value the benefits in accordance with §§ 4044.51 through 4044.57.
(b) Valuation of assets. Plan assets generally will be valued at their fair market value as defined in § 4001.2 of this chapter. As appropriate, plan assets will be valued at their fair value in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).
Trusteed Plans
§ 4044.51 - Benefits to be valued.
(a) Form of benefit. The plan administrator shall determine the form of each benefit to be valued in accordance with the following rules:
(1) If a benefit is in pay status as of the valuation date, the plan administrator shall value the form of the benefit being paid.
(2) If a benefit is not in pay status as of the valuation date but a valid election with respect to the form of benefit has been made on or before the valuation date, the plan administrator shall value the form of benefit so elected.
(3) If a benefit is not in pay status as of the valuation date and no valid election with respect to the form of benefit has been made on or before the valuation date, the plan administrator shall value the form of benefit that, under the terms of the plan, is payable in the absence of a valid election.
(b) Timing of benefit. The plan administrator shall value benefits whose starting date is subject to election using the assumption specified in paragraph (b)(1) or (b)(2) of this section.
(1) Where election made. If a valid election of the starting date of a benefit has been made on or before the valuation date, the plan administrator shall assume that the starting date of the benefit is the starting date so elected.
(2) Where no election made. If no valid election of the starting date of a benefit has been made on or before the valuation date, the plan administrator shall assume that the starting date of the benefit is the later of—
(i) The expected retirement age, as determined under §§ 4044.55 through 4044.57, of the participant with respect to whom the benefit is payable, or
(ii) The valuation date.
§ 4044.52 - Valuation of benefits.
The plan administrator shall value all benefits as of the valuation date by—
(a) Using the mortality assumptions prescribed by § 4044.53 and the interest assumptions prescribed in appendix B to this part;
(b) Using interpolation methods, where necessary, at least as accurate as linear interpolation;
(c) Using valuation formulas that accord with generally accepted actuarial principles and practices; and
(d) Adjusting the values to reflect loading expenses in accordance with appendix C to this part.
§ 4044.53 - Mortality assumptions.
(a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits), the plan administrator shall use the mortality factors prescribed in paragraphs (c), (d), (e), (f), and (g) of this section to value benefits under § 4044.52.
(b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the valuation date to another person, who need not be identifiable on the valuation date, depends in whole or in part on the death of the pay status annuitant, then the plan administrator shall value the death benefit using—
(1) The mortality rates that are applicable to the annuity in pay status under this section to represent the mortality of the pay status annuitant; and
(2) The mortality rates under paragraph (c) of this section to represent the mortality of the death beneficiary.
(c) Healthy lives. If the individual is not disabled under paragraph (f) of this section, the plan administrator will value the benefit using—
(1) For male participants, the rates in Table 1 of appendix A to this part projected from 1994 to the calendar year in which the valuation date occurs plus 10 years using Scale AA from Table 2 of appendix A to this part; and
(2) For female participants, the rates in Table 3 of appendix A to this part projected from 1994 to the calendar year in which the valuation date occurs plus 10 years using Scale AA from Table 4 of appendix A to this part.
(d) Social Security disabled lives. If the individual is Social Security disabled under paragraph (f)(1) of this section, the plan administrator will value the benefit using—
(1) For male participants, the rates in Table 5 of appendix A to this part; and
(2) For female participants, the rates in Table 6 of appendix A to this part.
(e) Non-Social Security disabled lives. If the individual is non-Social Security disabled under paragraph (f)(2) of this section, the plan administrator will value the benefit at each age using—
(1) For male participants, the lesser of—
(i) The rate determined from Table 1 of appendix A to this part projected from 1994 to the calendar year in which the valuation date occurs plus 10 years using Scale AA from Table 2 of appendix A to this part and setting the resulting table forward three years, or
(ii) The rate in Table 5 of appendix A to this part.
(2) For female participants, the lesser of—
(i) The rate determined from Table 3 of appendix A to this part projected from 1994 to the calendar year in which the valuation date occurs plus 10 years using Scale AA from Table 4 of appendix A to this part and setting the resulting table forward three years, or
(ii) The rate in Table 6 of appendix A to this part.
(f) Definitions of disability—(1) Social Security disabled. A participant is Social Security disabled if, on the valuation date, the participant is less than age 65 and has a benefit in pay status that—
(i) Is being received as a disability benefit under a plan provision requiring either receipt of or eligibility for Social Security disability benefits, or
(ii) Was converted under the plan's terms from a disability benefit under a plan provision requiring either receipt of or eligibility for Social Security disability benefits to an early or normal retirement benefit for any reason other than a change in the participant's health status.
(2) Non-Social Security disabled. A participant is non-Social Security disabled if, on the valuation date, the participant is less than age 65, is not Social Security disabled, and has a benefit in pay status that—
(i) Is being received as a disability benefit under the plan, or
(ii) Was converted under the plan's terms from a disability benefit to an early or normal retirement benefit for any reason other than a change in the participant's health status.
(g) Contingent annuitant mortality during deferral period. If a participant's joint and survivor benefit is valued as a deferred annuity, the mortality of the contingent annuitant during the deferral period will be disregarded.
§ 4044.54 - [Reserved]
Expected Retirement Age
§ 4044.55 - XRA when a participant must retire to receive a benefit.
(a) Applicability. Except as provided in § 4044.57, the plan administrator shall determine the XRA under this section when plan provisions or established plan practice require a participant to retire from his or her job to begin receiving an early retirement benefit.
(b) Data needed. The plan administrator shall determine for each participant who is entitled to an early retirement benefit—
(1) The amount of the participant's monthly benefit payable at unreduced retirement age in the normal form payable under the terms of the plan or in the form validly elected by the participant before the termination date;
(2) The calendar year in which the participant reaches unreduced retirement age (“URA”);
(3) The participant's URA; and
(4) The participant's earliest retirement age at the valuation date.
(c) Procedure. (1) The plan administrator shall determine whether a participant is in the high, medium or low retirement rate category using the applicable Selection of Retirement Rate Category Table in appendix D, based on the participant's benefit determined under paragraph (b)(1) of this section and the year in which the participant reaches URA.
(2) Based on the retirement rate category determined under paragraph (c)(1), the plan administrator shall determine the XRA from Table II-A, II-B or II-C, as appropriate, by using the participant's URA and earliest retirement age at valuation date.
§ 4044.56 - XRA when a participant need not retire to receive a benefit.
(a) Applicability. Except as provided in § 4044.57, the plan administrator shall determine the XRA under this section when plan provisions or established plan practice do not require a participant to retire from his or her job to begin receiving his or her early retirement benefit.
(b) Data needed. The plan administrator shall determine for each participant—
(1) The participant's URA; and
(2) The participant's earliest retirement age at valuation date.
(c) Procedure. Participants in this case are always assigned to the high retirement rate category and therefore the plan administrator shall use Table II-C of appendix D to determine the XRA. The plan administrator shall determine the XRA from Table II-C by using the participant's URA and earliest retirement age at termination date.
§ 4044.57 - Special rule for facility closing.
(a) Applicability. The plan administrator shall determine the XRA under this section, rather than § 4044.55 or § 4044.56, when both the conditions set forth in paragraphs (a)(1) and (a)(2) of this section exist.
(1) The facility at which the participant is or was employed permanently closed within one year before the valuation date, or is in the process of being permanently closed on the valuation date.
(2) The participant left employment at the facility less than one year before the valuation date or was still employed at the facility on the valuation date.
(b) XRA. The XRA is equal to the earliest retirement age at valuation date.
Non-Trusteed Plans
§ 4044.71 - Valuation of annuity benefits.
The value of a benefit which is to be paid as an annuity is the cost of purchasing the annuity on the date of distribution from an insurer.
§ 4044.72 - Form of annuity to be valued.
(a) When both the participant and beneficiary are alive on the date of distribution, the form of annuity to be valued is—
(1) For a participant or beneficiary already receiving a monthly benefit, that form which is being received, or
(2) For a participant or beneficiary not receiving a monthly benefit, the normal annuity form payable under the plan or the optional form for which the participant has made a valid election.
(b) When the participant dies after the date of plan termination but before the date of distribution, the form of annuity to be valued is determined under paragraph (b)(1) or (b)(2) of this section:
(1) For a participant who was entitled to a deferred annuity—
(i) If the form was a single or joint life annuity, no benefit shall be valued; or
(ii) If the participant had made a valid election of a lump sum benefit before he or she died, the form to be valued is the lump sum.
(2) For a participant who was eligible for immediate retirement, and for a participant who was in pay status at the date of termination—
(i) If the form was a single life annuity, no benefit shall be valued;
(ii) If the form was an annuity for a period certain and life thereafter, the form to be valued is an annuity for the certain period;
(iii) If the form was a joint and survivor annuity, the form to be valued is a single life annuity payable to the beneficiary, unless the beneficiary has also died, in which case no benefit shall be valued;
(iv) If the form was an annuity for a period certain and joint and survivor thereafter, the form to be valued is an annuity for the certain period and the life of the beneficiary thereafter, unless the beneficiary has also died, in which case the form to be valued is an annuity for the certain period;
(v) If the form was a cash refund annuity, the form to be valued is the remaining lump sum death benefit; or
(vi) If the participant had elected a lump sum benefit before he or she died, the form to be valued is the lump sum.
(c) When the participant is still living and the named beneficiary or spouse dies after the date of termination but before the date of distribution, the form of annuity to be valued is determined under paragraph (c)(1) or (c)(2) of this section:
(1) For a participant entitled to a deferred annuity—
(i) If the form was a joint and survivor annuity, the form to be valued is a single life annuity payable to the participant; or
(ii) If the form was an annuity for a period certain and joint and survivor thereafter, the form to be valued is an annuity for the certain period and the life of the participant thereafter.
(2) For a participant eligible for immediate retirement and for a participant in pay status at the date of termination—
(i) If the form was a joint and survivor annuity, the form to be valued is a single life annuity payable to the participant; or
(ii) If the form was an annuity for a period certain and joint survivor thereafter annuity, the form to be valued is an annuity for the certain period and for the life of the participant thereafter.
§ 4044.73 - Lump sums and other alternative forms of distribution in lieu of annuities.
(a) Valuation. (1) The value of the lump sum or other alternative form of distribution is the present value of the normal form of benefit provided by the plan payable at normal retirement age, determined as of the date of distribution using reasonable actuarial assumptions as to interest and mortality.
(2) If the participant dies before the date of distribution, but had elected a lump sum benefit, the present value shall be determined as if the participant were alive on the date of distribution.
(b) Actuarial assumptions. The plan administrator shall specify the actuarial assumptions used to determine the value calculated under paragraph (a) of this section when the plan administrator submits the benefit valuation data to the PBGC. The same actuarial assumptions shall be used for all such calculations. The PBGC reserves the right to review the actuarial assumptions used and to re-value the benefits determined by the plan administrator if the actuarial assumptions are found to be unreasonable.
§ 4044.74 - Withdrawal of employee contributions.
(a) If a participant has not started to receive monthly benefit payments on the date of distribution, the value of the lump sum which returns mandatory employee contributions is equal to the total amount of contributions made by the participant, plus interest that is payable to the participant under the terms of the plan, plus interest on that total amount from the date of termination to the date of distribution. The rate of interest credited on employee contributions up to the date of termination shall be the greater of the interest rate provided under the terms of the plan or the interest rate required under section 204(c) of ERISA or section 411(c) of the IRC.
(b) If a participant has started to receive monthly benefit payments on the date of distribution, part of which are attributable to his or her contributions, the value of the lump sum which returns employee contributions is equal to the excess of the amount described in paragraph (b)(1) of this section over the amount computed in paragraph (b)(2) of this section.
(1) The amount of accumulated mandatory employee contributions remaining in the plan as of the date of termination plus interest from the date of termination to the date of distribution.
(2) The excess of benefit payments made from the plan between date of plan termination and the date of distribution, over the amount of payments that would have been made if the employee contributions had been paid as a lump sum on the date of plan termination, with interest accumulated on the excess from the date of payment to the date of distribution.
(c) Interest assumptions. The interest rate used under this section to credit interest between the date of termination to the date of distribution shall be a reasonable rate and shall be the same for both paragraphs (a) and (b).
§ 4044.75 - Other lump sum benefits.
The value of a lump sum benefit which is not covered under § 4044.73 or § 4044.74 is equal to—
(a) The value under the irrevocable commitment, if an insurer provides the benefit; or
(b) The present value of the benefit as of the date of distribution, determined using reasonable actuarial assumptions, if the benefit is to be distributed other than by the purchase of the benefit from an insurer. The PBGC reserves the right to review the actuarial assumptions as to reasonableness and re-value the benefit if the actuarial assumptions are unreasonable.
Appendix A - Appendix A to Part 4044—Mortality Rate Tables
The mortality tables in this appendix set forth for each age x the probability q
Table 1—Mortality Table for Healthy Male Participants
[94 GAM basic]
Age x | q | 15 | 0.000371 | 16 | 0.000421 | 17 | 0.000463 | 18 | 0.000495 | 19 | 0.000521 | 20 | 0.000545 | 21 | 0.000570 | 22 | 0.000598 | 23 | 0.000633 | 24 | 0.000671 | 25 | 0.000711 | 26 | 0.000749 | 27 | 0.000782 | 28 | 0.000811 | 29 | 0.000838 | 30 | 0.000862 | 31 | 0.000883 | 32 | 0.000902 | 33 | 0.000912 | 34 | 0.000913 | 35 | 0.000915 | 36 | 0.000927 | 37 | 0.000958 | 38 | 0.001010 | 39 | 0.001075 | 40 | 0.001153 | 41 | 0.001243 | 42 | 0.001346 | 43 | 0.001454 | 44 | 0.001568 | 45 | 0.001697 | 46 | 0.001852 | 47 | 0.002042 | 48 | 0.002260 | 49 | 0.002501 | 50 | 0.002773 | 51 | 0.003088 | 52 | 0.003455 | 53 | 0.003854 | 54 | 0.004278 | 55 | 0.004758 | 56 | 0.005322 | 57 | 0.006001 | 58 | 0.006774 | 59 | 0.007623 | 60 | 0.008576 | 61 | 0.009663 | 62 | 0.010911 | 63 | 0.012335 | 64 | 0.013914 | 65 | 0.015629 | 66 | 0.017462 | 67 | 0.019391 | 68 | 0.021354 | 69 | 0.023364 | 70 | 0.025516 | 71 | 0.027905 | 72 | 0.030625 | 73 | 0.033549 | 74 | 0.036614 | 75 | 0.040012 | 76 | 0.043933 | 77 | 0.048570 | 78 | 0.053991 | 79 | 0.060066 | 80 | 0.066696 | 81 | 0.073780 | 82 | 0.081217 | 83 | 0.088721 | 84 | 0.096358 | 85 | 0.104559 | 86 | 0.113755 | 87 | 0.124377 | 88 | 0.136537 | 89 | 0.149949 | 90 | 0.164442 | 91 | 0.179849 | 92 | 0.196001 | 93 | 0.213325 | 94 | 0.231936 | 95 | 0.251189 | 96 | 0.270441 | 97 | 0.289048 | 98 | 0.306750 | 99 | 0.323976 | 100 | 0.341116 | 101 | 0.358560 | 102 | 0.376699 | 103 | 0.396884 | 104 | 0.418855 | 105 | 0.440585 | 106 | 0.460043 | 107 | 0.475200 | 108 | 0.485670 | 109 | 0.492807 | 110 | 0.497189 | 111 | 0.499394 | 112 | 0.500000 | 113 | 0.500000 | 114 | 0.500000 | 115 | 0.500000 | 116 | 0.500000 | 117 | 0.500000 | 118 | 0.500000 | 119 | 0.500000 | 120 | 1.000000 |
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Table 2—Projection Scale AA for Healthy Male Participants
Age x | AA | 15 | 0.019 | 16 | 0.019 | 17 | 0.019 | 18 | 0.019 | 19 | 0.019 | 20 | 0.019 | 21 | 0.018 | 22 | 0.017 | 23 | 0.015 | 24 | 0.013 | 25 | 0.010 | 26 | 0.006 | 27 | 0.005 | 28 | 0.005 | 29 | 0.005 | 30 | 0.005 | 31 | 0.005 | 32 | 0.005 | 33 | 0.005 | 34 | 0.005 | 35 | 0.005 | 36 | 0.005 | 37 | 0.005 | 38 | 0.006 | 39 | 0.007 | 40 | 0.008 | 41 | 0.009 | 42 | 0.010 | 43 | 0.011 | 44 | 0.012 | 45 | 0.013 | 46 | 0.014 | 47 | 0.015 | 48 | 0.016 | 49 | 0.017 | 50 | 0.018 | 51 | 0.019 | 52 | 0.020 | 53 | 0.020 | 54 | 0.020 | 55 | 0.019 | 56 | 0.018 | 57 | 0.017 | 58 | 0.016 | 59 | 0.016 | 60 | 0.016 | 61 | 0.015 | 62 | 0.015 | 63 | 0.014 | 64 | 0.014 | 65 | 0.014 | 66 | 0.013 | 67 | 0.013 | 68 | 0.014 | 69 | 0.014 | 70 | 0.015 | 71 | 0.015 | 72 | 0.015 | 73 | 0.015 | 74 | 0.015 | 75 | 0.014 | 76 | 0.014 | 77 | 0.013 | 78 | 0.012 | 79 | 0.011 | 80 | 0.010 | 81 | 0.009 | 82 | 0.008 | 83 | 0.008 | 84 | 0.007 | 85 | 0.007 | 86 | 0.007 | 87 | 0.006 | 88 | 0.005 | 89 | 0.005 | 90 | 0.004 | 91 | 0.004 | 92 | 0.003 | 93 | 0.003 | 94 | 0.003 | 95 | 0.002 | 96 | 0.002 | 97 | 0.002 | 98 | 0.001 | 99 | 0.001 | 100 | 0.001 | 101 | 0.000 | 102 | 0.000 | 103 | 0.000 | 104 | 0.000 | 105 | 0.000 | 106 | 0.000 | 107 | 0.000 | 108 | 0.000 | 109 | 0.000 | 110 | 0.000 | 111 | 0.000 | 112 | 0.000 | 113 | 0.000 | 114 | 0.000 | 115 | 0.000 | 116 | 0.000 | 117 | 0.000 | 118 | 0.000 | 119 | 0.000 | 120 | 0.000 |
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Table 3—Mortality Table for Healthy Female Participants
[94 GAM Basic]
Age x | q | 15 | 0.000233 | 16 | 0.000261 | 17 | 0.000281 | 18 | 0.000293 | 19 | 0.000301 | 20 | 0.000305 | 21 | 0.000308 | 22 | 0.000311 | 23 | 0.000313 | 24 | 0.000313 | 25 | 0.000313 | 26 | 0.000316 | 27 | 0.000324 | 28 | 0.000338 | 29 | 0.000356 | 30 | 0.000377 | 31 | 0.000401 | 32 | 0.000427 | 33 | 0.000454 | 34 | 0.000482 | 35 | 0.000514 | 36 | 0.000550 | 37 | 0.000593 | 38 | 0.000643 | 39 | 0.000701 | 40 | 0.000763 | 41 | 0.000826 | 42 | 0.000888 | 43 | 0.000943 | 44 | 0.000992 | 45 | 0.001046 | 46 | 0.001111 | 47 | 0.001196 | 48 | 0.001297 | 49 | 0.001408 | 50 | 0.001536 | 51 | 0.001686 | 52 | 0.001864 | 53 | 0.002051 | 54 | 0.002241 | 55 | 0.002466 | 56 | 0.002755 | 57 | 0.003139 | 58 | 0.003612 | 59 | 0.004154 | 60 | 0.004773 | 61 | 0.005476 | 62 | 0.006271 | 63 | 0.007179 | 64 | 0.008194 | 65 | 0.009286 | 66 | 0.010423 | 67 | 0.011574 | 68 | 0.012648 | 69 | 0.013665 | 70 | 0.014763 | 71 | 0.016079 | 72 | 0.017748 | 73 | 0.019724 | 74 | 0.021915 | 75 | 0.024393 | 76 | 0.027231 | 77 | 0.030501 | 78 | 0.034115 | 79 | 0.038024 | 80 | 0.042361 | 81 | 0.047260 | 82 | 0.052853 | 83 | 0.058986 | 84 | 0.065569 | 85 | 0.072836 | 86 | 0.081018 | 87 | 0.090348 | 88 | 0.100882 | 89 | 0.112467 | 90 | 0.125016 | 91 | 0.138442 | 92 | 0.152660 | 93 | 0.167668 | 94 | 0.183524 | 95 | 0.200229 | 96 | 0.217783 | 97 | 0.236188 | 98 | 0.255605 | 99 | 0.276035 | 100 | 0.297233 | 101 | 0.318956 | 102 | 0.340960 | 103 | 0.364586 | 104 | 0.389996 | 105 | 0.415180 | 106 | 0.438126 | 107 | 0.456824 | 108 | 0.471493 | 109 | 0.483473 | 110 | 0.492436 | 111 | 0.498054 | 112 | 0.500000 | 113 | 0.500000 | 114 | 0.500000 | 115 | 0.500000 | 116 | 0.500000 | 117 | 0.500000 | 118 | 0.500000 | 119 | 0.500000 | 120 | 1.000000 |
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Table 4—Projection Scale AA for Healthy Female Participants
Age x | AA | 15 | 0.016 | 16 | 0.015 | 17 | 0.014 | 18 | 0.014 | 19 | 0.015 | 20 | 0.016 | 21 | 0.017 | 22 | 0.017 | 23 | 0.016 | 24 | 0.015 | 25 | 0.014 | 26 | 0.012 | 27 | 0.012 | 28 | 0.012 | 29 | 0.012 | 30 | 0.010 | 31 | 0.008 | 32 | 0.008 | 33 | 0.009 | 34 | 0.010 | 35 | 0.011 | 36 | 0.012 | 37 | 0.013 | 38 | 0.014 | 39 | 0.015 | 40 | 0.015 | 41 | 0.015 | 42 | 0.015 | 43 | 0.015 | 44 | 0.015 | 45 | 0.016 | 46 | 0.017 | 47 | 0.018 | 48 | 0.018 | 49 | 0.018 | 50 | 0.017 | 51 | 0.016 | 52 | 0.014 | 53 | 0.012 | 54 | 0.010 | 55 | 0.008 | 56 | 0.006 | 57 | 0.005 | 58 | 0.005 | 59 | 0.005 | 60 | 0.005 | 61 | 0.005 | 62 | 0.005 | 63 | 0.005 | 64 | 0.005 | 65 | 0.005 | 66 | 0.005 | 67 | 0.005 | 68 | 0.005 | 69 | 0.005 | 70 | 0.005 | 71 | 0.006 | 72 | 0.006 | 73 | 0.007 | 74 | 0.007 | 75 | 0.008 | 76 | 0.008 | 77 | 0.007 | 78 | 0.007 | 79 | 0.007 | 80 | 0.007 | 81 | 0.007 | 82 | 0.007 | 83 | 0.007 | 84 | 0.007 | 85 | 0.006 | 86 | 0.005 | 87 | 0.004 | 88 | 0.004 | 89 | 0.003 | 90 | 0.003 | 91 | 0.003 | 92 | 0.003 | 93 | 0.002 | 94 | 0.002 | 95 | 0.002 | 96 | 0.002 | 97 | 0.001 | 98 | 0.001 | 99 | 0.001 | 100 | 0.001 | 101 | 0.000 | 102 | 0.000 | 103 | 0.000 | 104 | 0.000 | 105 | 0.000 | 106 | 0.000 | 107 | 0.000 | 108 | 0.000 | 109 | 0.000 | 110 | 0.000 | 111 | 0.000 | 112 | 0.000 | 113 | 0.000 | 114 | 0.000 | 115 | 0.000 | 116 | 0.000 | 117 | 0.000 | 118 | 0.000 | 119 | 0.000 | 120 | 0.000 |
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Table 5—Mortality Table for Social Security Disabled Male Participants
Age x | q | 15 | 0.022010 | 16 | 0.022502 | 17 | 0.023001 | 18 | 0.023519 | 19 | 0.024045 | 20 | 0.024583 | 21 | 0.025133 | 22 | 0.025697 | 23 | 0.026269 | 24 | 0.026857 | 25 | 0.027457 | 26 | 0.028071 | 27 | 0.028704 | 28 | 0.029345 | 29 | 0.029999 | 30 | 0.030661 | 31 | 0.031331 | 32 | 0.032006 | 33 | 0.032689 | 34 | 0.033405 | 35 | 0.034184 | 36 | 0.034981 | 37 | 0.035796 | 38 | 0.036634 | 39 | 0.037493 | 40 | 0.038373 | 41 | 0.039272 | 42 | 0.040189 | 43 | 0.041122 | 44 | 0.042071 | 45 | 0.043033 | 46 | 0.044007 | 47 | 0.044993 | 48 | 0.045989 | 49 | 0.046993 | 50 | 0.048004 | 51 | 0.049021 | 52 | 0.050042 | 53 | 0.051067 | 54 | 0.052093 | 55 | 0.053120 | 56 | 0.054144 | 57 | 0.055089 | 58 | 0.056068 | 59 | 0.057080 | 60 | 0.058118 | 61 | 0.059172 | 62 | 0.060232 | 63 | 0.061303 | 64 | 0.062429 | 65 | 0.063669 | 66 | 0.065082 | 67 | 0.066724 | 68 | 0.068642 | 69 | 0.070834 | 70 | 0.073284 | 71 | 0.075979 | 72 | 0.078903 | 73 | 0.082070 | 74 | 0.085606 | 75 | 0.088918 | 76 | 0.092208 | 77 | 0.095625 | 78 | 0.099216 | 79 | 0.103030 | 80 | 0.107113 | 81 | 0.111515 | 82 | 0.116283 | 83 | 0.121464 | 84 | 0.127108 | 85 | 0.133262 | 86 | 0.139974 | 87 | 0.147292 | 88 | 0.155265 | 89 | 0.163939 | 90 | 0.173363 | 91 | 0.183585 | 92 | 0.194653 | 93 | 0.206615 | 94 | 0.219519 | 95 | 0.234086 | 96 | 0.248436 | 97 | 0.263954 | 98 | 0.280803 | 99 | 0.299154 | 100 | 0.319185 | 101 | 0.341086 | 102 | 0.365052 | 103 | 0.393102 | 104 | 0.427255 | 105 | 0.469531 | 106 | 0.521945 | 107 | 0.586518 | 108 | 0.665268 | 109 | 0.760215 | 110 | 1.000000 |
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Table 6—Mortality Table for social Security Disabled Female Participants
Age x | q | 15 | 0.007777 | 16 | 0.008120 | 17 | 0.008476 | 18 | 0.008852 | 19 | 0.009243 | 20 | 0.009650 | 21 | 0.010076 | 22 | 0.010521 | 23 | 0.010984 | 24 | 0.011468 | 25 | 0.011974 | 26 | 0.012502 | 27 | 0.013057 | 28 | 0.013632 | 29 | 0.014229 | 30 | 0.014843 | 31 | 0.015473 | 32 | 0.016103 | 33 | 0.016604 | 34 | 0.017121 | 35 | 0.017654 | 36 | 0.018204 | 37 | 0.018770 | 38 | 0.019355 | 39 | 0.019957 | 40 | 0.020579 | 41 | 0.021219 | 42 | 0.021880 | 43 | 0.022561 | 44 | 0.023263 | 45 | 0.023988 | 46 | 0.024734 | 47 | 0.025504 | 48 | 0.026298 | 49 | 0.027117 | 50 | 0.027961 | 51 | 0.028832 | 52 | 0.029730 | 53 | 0.030655 | 54 | 0.031609 | 55 | 0.032594 | 56 | 0.033608 | 57 | 0.034655 | 58 | 0.035733 | 59 | 0.036846 | 60 | 0.037993 | 61 | 0.039176 | 62 | 0.040395 | 63 | 0.041653 | 64 | 0.042950 | 65 | 0.044287 | 66 | 0.045666 | 67 | 0.046828 | 68 | 0.048070 | 69 | 0.049584 | 70 | 0.051331 | 71 | 0.053268 | 72 | 0.055356 | 73 | 0.057573 | 74 | 0.059979 | 75 | 0.062574 | 76 | 0.065480 | 77 | 0.068690 | 78 | 0.072237 | 79 | 0.076156 | 80 | 0.080480 | 81 | 0.085243 | 82 | 0.090480 | 83 | 0.096224 | 84 | 0.102508 | 85 | 0.109368 | 86 | 0.116837 | 87 | 0.124948 | 88 | 0.133736 | 89 | 0.143234 | 90 | 0.153477 | 91 | 0.164498 | 92 | 0.176332 | 93 | 0.189011 | 94 | 0.202571 | 95 | 0.217045 | 96 | 0.232467 | 97 | 0.248870 | 98 | 0.266289 | 99 | 0.284758 | 100 | 0.303433 | 101 | 0.327385 | 102 | 0.359020 | 103 | 0.395842 | 104 | 0.438360 | 105 | 0.487816 | 106 | 0.545886 | 107 | 0.614309 | 108 | 0.694884 | 109 | 0.789474 | 110 | 1.000000 |
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Appendix B - Appendix B to Part 4044—Interest Rates Used To Value Benefits
For valuation dates occurring in the month— | The values of i | i | for t= | i | for t= | i | for t= | November 1993 | .0560 | 1-25 | .0525 | > | N/A | N/A | December 1993 | .0560 | 1-25 | .0525 | >25 | N/A | N/A | January 1994 | .0590 | 1-25 | .0525 | >25 | N/A | N/A | February 1994 | .0590 | 1-25 | .0525 | >25 | N/A | N/A | March 1994 | .0580 | 1-25 | .0525 | >25 | N/A | N/A | April 1994 | .0620 | 1-25 | .0525 | >25 | N/A | N/A | May 1994 | .0650 | 1-25 | .0525 | >25 | N/A | N/A | June 1994 | .0670 | 1-25 | .0525 | >25 | N/A | N/A | July 1994 | .0690 | 1-25 | .0525 | >25 | N/A | N/A | August 1994 | .0700 | 1-25 | .0525 | >25 | N/A | N/A | September 1994 | .0690 | 1-25 | .0525 | >25 | N/A | N/A | October 1994 | .0700 | 1-25 | .0525 | >25 | N/A | N/A | November 1994 | .0730 | 1-25 | .0525 | >25 | N/A | N/A | December 1994 | .0750 | 1-25 | .0525 | >25 | N/A | N/A | January 1995 | .0750 | 1-20 | .0575 | >20 | N/A | N/A | February 1995 | .0730 | 1-20 | .0575 | >20 | N/A | N/A | March 1995 | .0730 | 1-20 | .0575 | >20 | N/A | N/A | April 1995 | .0710 | 1-20 | .0575 | >20 | N/A | N/A | May 1995 | .0690 | 1-20 | .0575 | >20 | N/A | N/A | June 1995 | .0680 | 1-20 | .0575 | >20 | N/A | N/A | July 1995 | .0630 | 1-20 | .0575 | >20 | N/A | N/A | August 1995 | .0620 | 1-20 | .0575 | >20 | N/A | N/A | September 1995 | .0640 | 1-20 | .0575 | >20 | N/A | N/A | October 1995 | .0630 | 1-20 | .0575 | >20 | N/A | N/A | November 1995 | .0620 | 1-20 | .0575 | >20 | N/A | N/A | December 1995 | .0600 | 1-20 | .0575 | >20 | N/A | N/A | January 1996 | .0560 | 1-20 | .0475 | >20 | N/A | N/A | February 1996 | .0540 | 1-20 | .0475 | >20 | N/A | N/A | March 1996 | .0550 | 1-20 | .0475 | >20 | N/A | N/A | April 1996 | .0580 | 1-20 | .0475 | >20 | N/A | N/A | May 1996 | .0600 | 1-20 | .0475 | >20 | N/A | N/A | June 1996 | .0620 | 1-20 | .0475 | >20 | N/A | N/A | July 2006 | .0630 | 1-20 | .0475 | >20 | N/A | N/A | August 1996 | .0630 | 1-20 | .0475 | >20 | N/A | N/A | September 1996 | .0630 | 1-20 | .0475 | >20 | N/A | N/A | October 1996 | .0630 | 1-20 | .0475 | >20 | N/A | N/A | November 1996 | .0620 | 1-20 | .0475 | >20 | N/A | N/A | December 1996 | .0600 | 1-20 | .0475 | >20 | N/A | N/A | January 1997 | .0580 | 1-25 | .0500 | >25 | N/A | N/A | February 1997 | .0590 | 1-25 | .0500 | >25 | N/A | N/A | March 1997 | .0620 | 1-25 | .0500 | >25 | N/A | N/A | April 1997 | .0610 | 1-25 | .0500 | >25 | N/A | N/A | May 1997 | .0630 | 1-25 | .0500 | >25 | N/A | N/A | June 1997 | .0640 | 1-25 | .0500 | >25 | N/A | N/A | July 1997 | .0630 | 1-25 | .0500 | >25 | N/A | N/A | August 1997 | .0610 | 1-25 | .0500 | >25 | N/A | N/A | September 1997 | .0570 | 1-25 | .0500 | >25 | N/A | N/A | October 1997 | .0590 | 1-25 | .0500 | >25 | N/A | N/A | November 1997 | .0570 | 1-25 | .0500 | >25 | N/A | N/A | December 1997 | .0560 | 1-25 | .0500 | >25 | N/A | N/A | January 1998 | .0560 | 1-25 | .0525 | >25 | N/A | N/A | February 1998 | .0550 | 1-25 | .0525 | >25 | N/A | N/A | March 1998 | .0550 | 1-25 | .0525 | >25 | N/A | N/A | April 1998 | .0550 | 1-25 | .0525 | >25 | N/A | N/A | May 1998 | .0560 | 1-25 | .0525 | >25 | N/A | N/A | June 1998 | .0560 | 1-25 | .0525 | >25 | N/A | N/A | July 1998 | .0550 | 1-25 | .0525 | >25 | N/A | N/A | August 1998 | .0540 | 1-25 | .0525 | >25 | N/A | N/A | September 1998 | .0540 | 1-25 | .0525 | >25 | N/A | N/A | October 1998 | .0540 | 1-25 | .0525 | >25 | N/A | N/A | November 1998 | .0530 | 1-25 | .0525 | >25 | N/A | N/A | December 1998 | .0540 | 1-25 | .0525 | >25 | N/A | N/A | January 1999 | .0530 | 1-20 | .0525 | >20 | N/A | N/A | February 1999 | .0540 | 1-20 | .0525 | >20 | N/A | N/A | March 1999 | .0530 | 1-20 | .0525 | >20 | N/A | N/A | April 1999 | .0560 | 1-20 | .0525 | >20 | N/A | N/A | May 1999 | .0570 | 1-20 | .0525 | >20 | N/A | N/A | June 1999 | .0570 | 1-20 | .0525 | >20 | N/A | N/A | July 1999 | .0600 | 1-20 | .0525 | >20 | N/A | N/A | August 1999 | .0630 | 1-20 | .0525 | >20 | N/A | N/A | September 1999 | .0630 | 1-20 | .0525 | >20 | N/A | N/A | October 1999 | .0630 | 1-20 | .0525 | >20 | N/A | N/A | November 1999 | .0630 | 1-20 | .0525 | >20 | N/A | N/A | December 1999 | .0650 | 1-20 | .0525 | >20 | N/A | N/A | January 2000 | .0690 | 1-25 | .0625 | >25 | N/A | N/A | February 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A | March 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A. | April 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A | May 2000 | .0700 | 1-25 | .0625 | >25 | N/A | N/A | June 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A | July 2000 | .0740 | 1-25 | 0625 | >25 | N/A | N/A | August 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A | September 2000 | .070 | 1-25 | .0625 | 25 | N/A | N/A | October 2000 | .0700 | 1-25 | .0625 | >25 | N/A | N/A | November 2000 | .0710 | 1-25 | .0625 | >25 | N/A | N/A | December 2000 | .0700 | 1-25 | .0625 | >25 | N/A | N/A | January 2001 | .0670 | 1-20 | .0625 | >20 | N/A | N/A | February 2001 | .0650 | 1-20 | .0625 | >20 | N/A | N/A | March 2001 | .0640 | 1-20 | .0625 | >20 | N/A | N/A | April 2001 | .0640 | 1-20 | .0625 | >20 | N/A | N/A | May 2001 | .0640 | 1-20 | .0625 | >20 | N/A | N/A | June 2001 | .0660 | 1-20 | .0625 | >20 | N/A | N/A | July 2001 | .0660 | 1-20 | .0625 | >20 | N/A | N/A | August 2001 | .0640 | 1-20 | .0625 | >20 | N/A | N/A | September 2001 | .0630 | 1-20 | .0625 | >20 | N/A | N/A | October 2001 | .0610 | 1-20 | .0625 | >20 | N/A | N/A | November 2001 | .0650 | 1-20 | .0625 | >20 | N/A | N/A | December 2001 | .0610 | 1-20 | .0625 | >20 | N/A | N/A | January 2002 | .0580 | 1-25 | .0425 | >25 | N/A | N/A | February 2002 | .0580 | 1-25 | .0425 | >25 | N/A | N/A | March 2002 | .0560 | 1-25 | .0425 | >25 | N/A | N/A | April 2002 | .0550 | 1-25 | .0425 | >25 | N/A | N/A | May 2002 | .0590 | 1-25 | .0425 | >25 | N/A | N/A | June 2002 | .0570 | 1-25 | .0425 | >25 | N/A | N/A | July 2002 | .0570 | 1-25 | .0425 | >25 | N/A | N/A | August 2002 | .0550 | 1-25 | .0425 | >25 | N/A | N/A | September 2002 | .0540 | 1-25 | .0425 | 25 | N/A | N/A | October 2002 | .0530 | 1-25 | .0425 | >25 | N/A | N/A | November 2002 | .0500 | 1-25 | .0425 | >25 | N/A | N/A | December 2002 | .0530 | 1-25 | .0425 | >25 | N/A | N/A | January 2003 | .0530 | 1-20 | .0525 | >20 | N/A | N/A | February 2003 | .0510 | 1-20 | .0525 | >20 | N/A | N/A | March 2003 | .0510 | 1-20 | .0525 | >20 | N/A | N/A | April 2003 | .0490 | 1-20 | .0525 | >20 | N/A | N/A | May 2003 | .0490 | 1-20 | .0525 | >20 | N/A | N/A | June 2003 | .0470 | 1-20 | .0525 | >20 | N/A | N/A | July 2003 | .0430 | 1-20 | .0525 | >20 | N/A | N/A | August 2003 | .0440 | 1-20 | .0525 | >20 | N/A | N/A | September 2003 | .0490 | 1-20 | .0525 | >20 | N/A | N/A | October 2003 | .0490 | 1-20 | .0525 | >20 | N/A | N/A | November 2003 | .0460 | 1-20 | .0525 | 20 | N/A | N/A | December 2003 | .0470 | 1-20 | .0525 | >20 | N/A | N/A | January 2004 | .0420 | 1-20 | .0500 | >20 | N/A | N/A | February 2004 | .0410 | 1-20 | .0500 | >20 | N/A | N/A | March 2004 | .0410 | 1-20 | .0500 | >20 | N/A | N/A | April 2004 | .0400 | 1-20 | .0500 | >20 | N/A | N/A | May 2004 | .0390 | 1-20 | .0500 | >20 | N/A | N/A | June 2004 | .0430 | 1-20 | .0500 | >20 | N/A | N/A | July 2004 | .0450 | 1-20 | .0500 | >20 | N/A | N/A | August 2004 | .0430 | 1-20 | .0500 | >20 | N/A | N/A | September 2004 | .0420 | 1-20 | .0500 | >20 | N/A | N/A | October 2004 | .0400 | 1-20 | .0500 | >20 | N/A | N/A | November 2004 | .0380 | 1-20 | .0500 | >20 | N/A | N/A | December 2004 | .0380 | 1-20 | .0500 | >20 | N/A | N/A | January 2005 | .0410 | 1-20 | .0475 | >20 | N/A | N/A | February 2005 | .0400 | 1-20 | .0475 | >20 | N/A | N/A | March 2005 | .0380 | 1-20 | .0475 | >20 | N/A | N/A | April 2005 | .0380 | 1-20 | .0475 | >20 | N/A | N/A | May 2005 | .0390 | 1-20 | .0475 | >20 | N/A | N/A | June 2005 | .0370 | 1-20 | .0475 | >20 | N/A | N/A | July 2005 | .0360 | 1-20 | .0475 | >20 | N/A | N/A | August 2005 | .0340 | 1-20 | .0475 | >20 | N/A | N/A | September 2005 | .0360 | 1-20 | .0475 | >20 | N/A | N/A | October 2005 | .0350 | 1-20 | .0475 | >20 | N/A | N/A | November 2005 | .0370 | 1-20 | .0475 | >20 | N/A | N/A | December 2005 | .0400 | 1-20 | .0475 | >20 | N/A | N/A | January 2006 | .0570 | 1-20 | .0475 | >20 | N/A | N/A | February 2006 | .0560 | 1-20 | .0475 | >20 | N/A | N/A | March 2006 | .0570 | 1-20 | .0475 | >20 | N/A | N/A | April 2006 | .0560 | 1-20 | .0475 | >20 | N/A | N/A | May 2006 | .0590 | 1-20 | .0475 | >20 | N/A | N/A | June 2006 | .0620 | 1-20 | .0475 | >20 | N/A | N/A | July 2006 | .0630 | 1-20 | .0475 | >20 | N/A | N/A | August 2006 | .0640 | 1-20 | .0475 | >20 | N/A | N/A | September 2006 | .0620 | 1-20 | .0475 | >20 | N/A | N/A | October 2006 | .0600 | 1-20 | .0475 | >20 | N/A | N/A | November 2006 | .0570 | 1-20 | .0475 | >20 | N/A | N/A | December 2006 | .0580 | 1-20 | .0475 | >20 | N/A | N/A | January 2007 | .0488 | 1-20 | .0455 | >20 | N/A | N/A | February 2007 | .0513 | 1-20 | .0480 | >20 | N/A | N/A | March 2007 | .0522 | 1-20 | .0489 | >20 | N/A | N/A | April 2007 | .0499 | 1-20 | .0466 | >20 | N/A | N/A | May 2007 | .0520 | 1-20 | .0487 | >20 | N/A | N/A | June 2007 | .0514 | 1-20 | .0481 | >20 | N/A | N/A | July 2007 | .0533 | 1-20 | .0500 | >20 | N/A | N/A | August 2007 | .0549 | 1-20 | .0516 | >20 | N/A | N/A | September 2007 | .0553 | 1-20 | .0520 | >20 | N/A | N/A | October 2007 | .0551 | 1-20 | .0518 | >20 | N/A | N/A | November 2007 | .0546 | 1-20 | .0513 | >20 | N/A | N/A | December 2007 | .0537 | 1-20 | .0504 | >20 | N/A | N/A | January 2008 | .0542 | 1-20 | .0449 | >20 | N/A | N/A | February 2008 | .0550 | 1-20 | .0457 | >20 | N/A | N/A | March 2008 | .0554 | 1-20 | .0461 | >20 | N/A | N/A | April 2008 | .0564 | 1-20 | .0471 | >20 | N/A | N/A | May 2008 | .0581 | 1-20 | .0488 | >20 | N/A | N/A | June 2008 | .0568 | 1-20 | .0475 | >20 | N/A | N/A | July 2008 | .0595 | 1-20 | .0502 | 20 | N/A | N/A | August 2008 | .0605 | 1-20 | .0512 | >20 | N/A | N/A | September 2008 | .0624 | 1-20 | .0531 | >20 | N/A | N/A | October 2008 | .0618 | 1-20 | .0525 | >20 | N/A | N/A | November 2008 | .0709 | 1-20 | .0616 | >20 | N/A | N/A | December 2008 | .0792 | 1-20 | .0699 | >20 | N/A | N/A | January 2009 | 0.0602 | 1-20 | 0.0548 | >20 | N/A | N/A | February 2009 | 0.0602 | 1-20 | 0.0548 | >20 | N/A | N/A | March 2009 | 0.0602 | 1-20 | 0.0548 | >20 | N/A | N/A | April-June 2009 | 0.0550 | 1-20 | 0.0502 | >20 | N/A | N/A | July-September 2009 | 0.0531 | 1-20 | 0.0504 | >20 | N/A | N/A | October-December 2009 | 0.0530 | 1-20 | 0.0501 | >20 | N/A | N/A | January—March 2010 | 0.0489 | 1-20 | 0.0463 | >20 | N/A | N/A | April-June 2010 | 0.0463 | 1-20 | 0.0451 | >20 | N/A | N/A | July-September 2010 | 0.0493 | 1-20 | 0.0466 | >20 | N/A | N/A | October-December 2010 | 0.0448 | 1-25 | 0.0451 | >25 | N/A | N/A | January-March 2011 | 0.0407 | 1-25 | 0.0393 | >25 | N/A | N/A | April-June 2011 | 0.0396 | 1-20 | 0.0432 | >20 | N/A | N/A | July-September 2011 | 0.0422 | 1-20 | 0.0434 | >20 | N/A | N/A | October-December 2011 | 0.0409 | 1-20 | 0.0430 | >20 | N/A | N/A | January-March 2012 | 0.0374 | 1-20 | 0.0370 | >20 | N/A | N/A | April-June 2012 | 0.0311 | 1-20 | 0.0336 | >20 | N/A | N/A | July-September 2012 | 0.0295 | 1-20 | 0.0366 | >20 | N/A | N/A | October—December 2012 | 0.0307 | 1-20 | 0.0300 | >20 | N/A | N/A | January-March 2013 | 0.0267 | 1-20 | 0.0301 | >20 | N/A | N/A | April-June 2013 | 0.0250 | 1-20 | 0.0320 | >20 | N/A | N/A | July-September 2013 | 0.0260 | 1-20 | 0.0343 | >20 | N/A | N/A | October-December 2013 | 0.0300 | 1-20 | 0.0331 | >20 | N/A | N/A | January-March 2014 | 0.0335 | 1-20 | 0.0350 | >20 | N/A | N/A | April—June 2014 | 0.0347 | 1-20 | 0.0364 | >20 | N/A | N/A | July-September 2014 | 0.0343 | 1-20 | 0.0366 | >20 | N/A | N/A | October-December 2014 | 0.0310 | 1-20 | 0.0329 | >20 | N/A | N/A | January-March 2015 | 0.0289 | 1-20 | 0.0312 | >20 | N/A | N/A | April-June 2015 | 0.0271 | 1-20 | 0.0278 | >20 | N/A | N/A | July-September 2015 | 0.0232 | 1-20 | 0.0237 | >20 | N/A | N/A | October-December 2015 | 0.0246 | 1-20 | 0.0298 | >20 | N/A | N/A | January-March 2016 | 0.0282 | 1-20 | 0.0295 | >20 | N/A | N/A | January-March 2017 | 0.0187 | 1-20 | 0.0237 | >20 | N/A | N/A | April-June 2016 | 0.0277 | 1-20 | 0.0286 | >20 | N/A | N/A | July-September 2016 | 0.0250 | 1-20 | 0.0285 | >20 | N/A | N/A | October-December 2016 | 0.0198 | 1-20 | 0.0267 | >20 | N/A | N/A | January-March 2017 | 0.0187 | 1-20 | 0.0237 | >20 | N/A | N/A | April-June 2017 | 0.0215 | 1-20 | 0.0260 | >20 | N/A | N/A | July-September 2017 | 0.0244 | 1-20 | 0.0274 | >20 | N/A | N/A | October-December 2017 | 0.0234 | 1-20 | 0.0263 | >20 | N/A | N/A | January-March 2018 | 0.0239 | 1-20 | 0.0260 | >20 | N/A | N/A | April-June 2018 | 0.0227 | 1-20 | 0.0259 | >20 | N/A | N/A | July-September 2018 | 0.0253 | 1-25 | 0.0264 | >25 | N/A | N/A | October-December 2018 | 0.0284 | 1-20 | 0.0276 | >20 | N/A | N/A | January-March 2019 | 0.0309 | 1-20 | 0.0284 | >20 | N/A | N/A | April-June 2019 | 0.0307 | 1-20 | 0.0305 | >20 | N/A | N/A | July-September 2019 | 0.0292 | 1-25 | 0.0307 | >25 | N/A | N/A | October-December 2019 | 0.0253 | 1-25 | 0.0253 | >25 | N/A | N/A | January-March 2020 | 0.0212 | 1-25 | 0.0226 | >25 | N/A | N/A | April-June 2020 | 0.0211 | 1-20 | 0.0192 | >20 | N/A | N/A | July-September 2020 | 0.0198 | 1-20 | 0.0157 | >20 | N/A | N/A | October-December 2020 | 0.0162 | 1-20 | 0.0140 | >20 | N/A | N/A | January-March 2021 | 0.0169 | 1-20 | 0.0166 | >20 | N/A | N/A | April-June 2021 | 0.0182 | 1-20 | 0.0168 | >20 | N/A | N/A | July-September 2021 | 0.0213 | 1-25 | 0.0223 | >25 | N/A | N/A | October-December 2021 | 0.0240 | 1-20 | 0.0211 | >20 | N/A | N/A | January-March 2022 | 0.0237 | 1-20 | 0.0203 | >20 | N/A | N/A | April-June 2022 | 0.0240 | 1-20 | 0.0212 | >20 | N/A | N/A | July-September 2022 | 0.0281 | 1-20 | 0.0294 | >20 | N/A | N/A | October-December 2022 | 0.0390 | 1-20 | 0.0365 | >20 | N/A | N/A | January-March 2023 | 0.0486 | 1-20 | 0.0470 | >20 | N/A | N/A | April-June 2023 | 0.0538 | 1-20 | 0.0509 | >20 | N/A | N/A | July-September 2023 | 0.0524 | 1-20 | 0.0458 | >20 | N/A | N/A | October-December 2023 | 0.0506 | 1-20 | 0.0437 | >20 | N/A | N/A | January-March 2024 | 0.0545 | 1-20 | 0.0522 | >20 | N/A | N/A | April-June 2024 | 0.0550 | 1-20 | 0.0483 | >20 | N/A | N/A |
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Appendix C - Appendix C to Part 4044—Loading Assumptions
If the total value of the plan's benefit liabilities (as defined in 29 U.S.C. § 1301(a)(16)), exclusive of the loading charge, is— | The loading charge equals— | greater than | but less than or equal to | $0 | $200,000 | 5% of the total value of the plan's benefits, plus $200 for each plan participant. | $200,000 | $10,000, plus a percentage of the excess of the total value over $200,000, plus $200 for each plan participant; the percentage is equal to 1% + [(P%−7.50%)/10], where P% is the initial rate, expressed as a percentage, set forth in appendix B of this part for the valuation of benefits. |
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Appendix D - Appendix D to Part 4044—Tables Used To Determine Expected Retirement Age
Table I-24—Selection of Retirement Rate Category
[For valuation dates in 2024 1]
If participant reaches URA in year— | Participant's retirement rate category is— | High
4 if monthly
benefit at URA is greater than— | Low
2 if monthly
benefit at URA is less than— | Medium 3 if monthly benefit at URA is— | From— | To— | 2025 | 802 | 802 | 3,388 | 3,388 | 2026 | 821 | 821 | 3,466 | 3,466 | 2027 | 839 | 839 | 3,546 | 3,546 | 2028 | 859 | 859 | 3,627 | 3,627 | 2029 | 879 | 879 | 3,711 | 3,711 | 2030 | 899 | 899 | 3,796 | 3,796 | 2031 | 919 | 919 | 3,883 | 3,883 | 2032 | 941 | 941 | 3,973 | 3,973 | 2033 | 962 | 962 | 4,064 | 4,064 | 2034 or later | 984 | 984 | 4,157 | 4,157 |
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1 Applicable tables for valuation dates before 2024 are available on PBGC's website (
2 Table II-A.
3 Table II-B.
4 Table II-C.
Table II-A—Expected Retirement Ages for Individuals in the Low Category
Participant's earliest retirement age at valuation date. | Unreduced retirement age | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 42 | 53 | 53 | 53 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 43 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 44 | 54 | 54 | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 56 | 45 | 54 | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 46 | 55 | 55 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 57 | 57 | 47 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 48 | 56 | 57 | 57 | 57 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 49 | 56 | 57 | 58 | 58 | 58 | 58 | 59 | 59 | 59 | 59 | 59 | 50 | 57 | 57 | 58 | 58 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 51 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 60 | 60 | 60 | 52 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 53 | 58 | 59 | 59 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 54 | 58 | 59 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 55 | 59 | 59 | 60 | 61 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 56 | 59 | 60 | 60 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 57 | 59 | 60 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 58 | 59 | 60 | 61 | 61 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 59 | 59 | 60 | 61 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 60 | 60 | 60 | 61 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 61 | 61 | 61 | 62 | 63 | 63 | 63 | 63 | 64 | 64 | 64 | 62 | 62 | 62 | 63 | 63 | 63 | 64 | 64 | 64 | 64 | 63 | 63 | 63 | 64 | 64 | 65 | 65 | 65 | 65 | 64 | 64 | 64 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 66 | 66 | 66 | 66 | 66 | 66 | 67 | 67 | 67 | 67 | 67 | 68 | 68 | 68 | 68 | 69 | 69 | 69 | 70 | 70 |
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Table II-B—Expected Retirement Ages for Individuals in the Medium Category
Participant's earliest retirement age at valuation date | Unreduced retirement age | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 42 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 43 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 44 | 50 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 45 | 51 | 51 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 46 | 52 | 52 | 52 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 47 | 53 | 53 | 53 | 53 | 53 | 54 | 54 | 54 | 54 | 54 | 54 | 48 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 49 | 54 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 50 | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 51 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 52 | 56 | 57 | 57 | 57 | 57 | 58 | 58 | 58 | 58 | 58 | 58 | 53 | 57 | 57 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 54 | 57 | 58 | 58 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 55 | 58 | 58 | 59 | 59 | 59 | 60 | 60 | 60 | 60 | 60 | 60 | 56 | 58 | 59 | 59 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 57 | 59 | 59 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 58 | 59 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 59 | 59 | 60 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 60 | 60 | 60 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 61 | 61 | 61 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 62 | 62 | 62 | 62 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 66 | 66 | 66 | 66 | 66 | 66 | 67 | 67 | 67 | 67 | 67 | 68 | 68 | 68 | 68 | 69 | 69 | 69 | 70 | 70 |
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Table II-C—Expected Retirement Ages for Individuals in the High Category
Participant's earliest retirement age at valuation date. | Unreduced retirement age | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 42 | 46 | 46 | 46 | 46 | 46 | 47 | 47 | 47 | 47 | 47 | 47 | 43 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 44 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 45 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 46 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 47 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 48 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 49 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 50 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 51 | 54 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 52 | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 56 | 53 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 57 | 54 | 57 | 57 | 57 | 57 | 57 | 58 | 58 | 58 | 58 | 58 | 58 | 55 | 57 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 58 | 56 | 58 | 58 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 57 | 58 | 59 | 59 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 58 | 59 | 59 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 59 | 59 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 60 | 60 | 60 | 61 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 61 | 61 | 61 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 63 | 63 | 63 | 63 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 66 | 66 | 66 | 66 | 66 | 66 | 67 | 67 | 67 | 67 | 67 | 68 | 68 | 68 | 68 | 69 | 69 | 69 | 70 | 70 |
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