Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Pension - Social Security
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 01-18-2008, 07:33 AM
student_actuary student_actuary is offline
Member
 
Join Date: May 2003
Posts: 115
Default new current liability mortality table

The new current liability mortality table is to be used for valuation of any plan year beginning in and after 2007 calendar year?
Reply With Quote
  #2  
Old 01-18-2008, 08:06 AM
student_actuary student_actuary is offline
Member
 
Join Date: May 2003
Posts: 115
Default

but this change is effective Feb 1 2007; so a plan with plan year 1/1/2007 - 12/31/2007 and valuation date 1/1/2007 would use the old mortality table right?


thanks all
Reply With Quote
  #3  
Old 01-18-2008, 09:25 AM
volva yet's Avatar
volva yet volva yet is offline
Note Contributor
 
Join Date: Feb 2006
Location: Nomadic
Studying for GHC/DMAC
College: PSU '07
Favorite beer: Oskar Blues Old Chub Scotch Ale
Posts: 4,949
Default

Quote:
Originally Posted by student_actuary View Post
but this change is effective Feb 1 2007; so a plan with plan year 1/1/2007 - 12/31/2007 and valuation date 1/1/2007 would use the old mortality table right?


thanks all
As far as I know, that is correct.
__________________
Exams
How to explain actuarial exams to someone else...

Good Einstein quote - "One had to cram all this stuff into one's mind for the examinations, whether one liked it or not. This coercion had such a deterring effect on me that, after I had passed the final examination, I found the consideration of any scientific problems distasteful to me for an entire year."
Reply With Quote
  #4  
Old 01-18-2008, 09:41 AM
DaveyDo's Avatar
DaveyDo DaveyDo is offline
Member
AAA
 
Join Date: May 2005
Location: Cleveland
Posts: 725
Default

There is a specific current liability mortality table to be used for plan years beginning in 2007. That is the only year it will be used. For plan years beginning in 2008, current liability does not exist as a separate measurement. For 2008 you use the segment rates and the recently published mortality tables. (The above is for single employer plans. Different rules for multi-employer plans)
Reply With Quote
  #5  
Old 01-18-2008, 10:43 AM
student_actuary student_actuary is offline
Member
 
Join Date: May 2003
Posts: 115
Thumbs up

Quote:
Originally Posted by colby2152 View Post
As far as I know, that is correct.


rick, do you agree???
Reply With Quote
  #6  
Old 01-18-2008, 11:39 AM
UNCORRELATED LAY UNCORRELATED LAY is offline
Member
CCA AAA COPA
 
Join Date: May 2005
Favorite beer: Mine
Posts: 6,501
Default

From the Regs

Quote:
DATES: Effective Date: These regulations
are effective February 2, 2007.
Applicability Date: These regulations
apply for plan years beginning on or
after January 1, 2007.
We have taken this to mean that our 1/1/07 valuations need to be run on the new mortality.
__________________
Quote:
Originally Posted by ShebaPoe View Post
Your posts are stupid.

All of them.
Reply With Quote
  #7  
Old 01-18-2008, 12:06 PM
Duffer's Avatar
Duffer Duffer is offline
Member
ASPPA COPA
 
Join Date: Feb 2007
Location: Teeing off
Studying for Blues guitar
Posts: 1,493
Default

Quote:
Originally Posted by student_actuary View Post
The new current liability mortality table is to be used for valuation of any plan year beginning in and after 2007 calendar year?
And don't forget that small plans still have a choice between the separate pre-post- tables or the combined table for 2007 current liability.
Reply With Quote
  #8  
Old 01-19-2008, 10:42 AM
Rick_G's Avatar
Rick_G Rick_G is offline
Member
 
Join Date: May 2005
Location: Just south of the Big Chicken
Posts: 2,192
Default

Quote:
Originally Posted by student_actuary View Post
but this change is effective Feb 1 2007; so a plan with plan year 1/1/2007 - 12/31/2007 and valuation date 1/1/2007 would use the old mortality table right?
As noted above by UNCORRELATED, this is NOT correct. The 2007 current liability mortality table should be used for ALL plan years starting in 2007.
__________________
Rick Groszkiewicz


Now offering online seminars and everything else under the sun for actuarial exams.
EA-2F and EA-2L and EA-1
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 11:34 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.16846 seconds with 9 queries