<![CDATA[Endres Actuarial - News]]>Wed, 08 Jan 2025 01:17:39 -0600Weebly<![CDATA[EAC Tools Version 2025.1.0]]>Mon, 28 Oct 2024 05:00:00 GMThttps://endresactuarial.com/news/eac-tools-version-202510
  • Added September 2024 CPI to produce 2025 regulatory amounts (official IRS amounts have not been announced at this time).
  • Added the ability to define the interest parameter using spot rates from the ERISA 4044 yield curve for a given year & month, published by PBGC for valuation dates on or after July 31, 2024.
  • Added ERISA section 4044/4050 mortality tables, published by PBGC for valuation dates on or after July 31, 2024.
  • Allow the mortality table "pre-retirement/post-retirement shortcut" for ERISA 4044 tables. This is same feature that exists for any table that has a non-annuitant table (i.e. pre-retirement) & an associated annuitant table (i.e. post-retirement). Note that this shortcut works only for functions that have a commencement date: for example, it works for PVSL but it does not work for LIFEEXPECT.
    For example, the following mortality table parameters produce the same result:
       -- ERISA-4044-2024*-M
       -- ERISA-4044-2024*-NON-M,ERISA-4044-2024*-ANN-M
    This mortality table definition is: "Pre-retirement: 2024 ERISA Section 4044 Non-Annuitant Healthy Lives Mortality Table (male) (valuation date on or after July 31, 2024); Post-retirement: 2024 ERISA Section 4044 Annuitant Healthy Lives Mortality Table (male) (valuation date on or after July 31, 2024)".
  • Fixed an error that arose when attempting to download 30-year treasury rates from the IRS web page. The screen scrape ran into an error that was introduced recently in the web page's HTML code.
  • Fixed an error that arose when using the following parameters:
       -- calc method parameter = 0.
       -- mortality table parameter was a combination of
           a pre-retirement table and a post-retirement  table
           (e.g. "ERISA-4044-2024*-NON-F,ERISA-4044-2024*-ANN-F").
       -- stop age parameter was non-blank and was not a whole number.
    In this case, the post-retirement mortality table was used during the pre-retirement period.
]]><![CDATA[EAC Tools Version 2024.2.5]]>Wed, 19 Jun 2024 05:00:00 GMThttps://endresactuarial.com/news/eac-tools-version-20242511 new mortality tables were added to EAC Tools. These tables were published in the Federal Register on 6/6/2024; also published by the Pension Benefit Guaranty Corporation (PBGC) in its final rule titled Valuations Assumptions and Methods; also as provided by the PBGC on its website ERISA section 4044/4050 mortality tables.

These tables are used for calculations where the valuation date is on or after July 31, 2024.

The table for missing participants is a static unisex table:
The table for participants eligible for Social Security disability benefits is a static table: ​
For healthy annuitants and healthy non-annuitants, 2012 base tables are provided.
For ERISA 4044 calculations, the 2012 base tables are to be projected with generational mortality improvement using scale MP-2021. These tables have not been officially published at this time. The tables in EAC Tools were created using the add-in's regular mortality table definitions: for example, the table ERISA-4044-2024*-ANN-M was created using: PBGC2012BASE-ANN-M/MP2021@2024/gen.
The tables for valuation dates in 2024 (on or after July 31, 2024) are:
  • 2024 ERISA Section 4044 Non-Annuitant Healthy Lives Mortality Table
    Table names ERISA-4044-2024*-NON-M and ERISA-4044-2024*-NON-F
  • 2024 ERISA Section 4044 Annuitant Healthy Lives Mortality Table
    Table names ERISA-4044-2024*-ANN-M and ERISA-4044-2024*-ANN-F
]]><![CDATA[EAC Tools Version 2024.2.4]]>Tue, 21 May 2024 15:54:03 GMThttps://endresactuarial.com/news/eac-tools-version-202424Added 2025 IRS static mortality tables published in IRS Notice 2024-42:
  • 417(e) lump sum mortality table
  • 430(h) static tables (male and female)
]]><![CDATA[EAC Tools Version 2024.2.1]]>Thu, 21 Mar 2024 02:43:46 GMThttps://endresactuarial.com/news/eac-tools-version-202421EAC Tools has the following enhancements:
  • Updated everything to 2024:
    -- 2024 ERISA 4044 an 4050 mortality tables.
    -- Updated various function demos to 2024.
    -- Updated PBGC Retirement Rate Categories to 2024 and added auto download for future years.
    -- Added CPI-U and CPI-W for all months of 2023.
  • New tables and charts (see below).
  • Added new estimated future 417(e) mortality table "LS2025est". This is a projected table using the methodology that was used by the IRS it produce the table for 2024. This works for any year greater than 2024, although "LS2025est" is the only table shown in the list of tables.
  • Faster startup: Upon Excel launch, the EAC Tools add-in does the following:
    -- checks to see if there is an updated version is available.
    -- checks to see if updated segment rates are available.
    With this version, the HTTP download comes from just one small text file instead of two, resulting in a faster startup.
  • Faster startup: eliminated check for old Utilities add-in which was deprecated one year ago, this was a relatively slow process, and it is no longer needed.
  • Fixed special handling of compound YrsCert for AESLtoJL function in Explainer and Audit
  • Enabled mouse wheel scroll for lists on various user dialogs.
  • Added new function TRate3 to return the 3-Year Treasury Rate.
  • Social Security Period Life Tables upgraded to allow any year that has been published by the SSA. These tables are contained in a new database file EACDataPLT.accdb.
  • Added new functions PVJLX_WS and AESLtoJL_WS to handle specialized joint & survivor annuities with years certain.
  • Fixed a minor issue where the present value of a joint life annuity axy should be 0 (instead of .5427 = 13/24) in the case where the "current age" is greater than the mortality table's terminal age. This had no effect on any other results.
  • Fixed a minor issue where combining two tables using the "^" option cause qx=2 at the terminal age, instead of qx=1. This caused a strange result at the final age, but the affect was practically nil.
]]><![CDATA[EAC Tools New Features in Version 2024.2.1]]>Wed, 20 Mar 2024 05:00:00 GMThttps://endresactuarial.com/news/eac-tools-new-features-in-version-202421You now can view tables and charts showing:
  • Consumer Price Index (CPI-U and CPI-W)
  • Treasury rates (1, 3, 5, 10, 30-year)
  • IRS minimum present value segment rates
These charts are available from the EAC Tools "Special" menu.
Picture
]]><![CDATA[Updated Terms and Conditions]]>Wed, 20 Mar 2024 05:00:00 GMThttps://endresactuarial.com/news/updated-terms-and-conditionsEAC Terms and Conditions have been changed. All users will have to agree to the Terms and Conditions when they launch EAC Tools version 2024.2.1 for the first time.

Click here to read the Terms and Conditions; also available in Excel: EAC Tools/About EAC Tools/View Terms and Conditions.]]><![CDATA[EAC Tools version 2024.1.3 bug fix]]>Wed, 17 Jan 2024 20:54:58 GMThttps://endresactuarial.com/news/eac-tools-version-202413-bug-fixFixed a bug where Excel would open, and the add-in would change the calculation mode set to "manual" instead of "automatic", overriding the user's desired setting. This was a rather mysterious issue in Excel that affected some users.]]><![CDATA[EAC Tools version 2024.1.2 bug fix]]>Sat, 18 Nov 2023 19:15:12 GMThttps://endresactuarial.com/news/eac-tools-version-202412-bug-fixFixed a potential bug that popped up in version 2023.1.1 that was issued last week. This issue affected only EAC Tools -- Full Version, it did not affect EAC Tools -- Basic Version.

The bug occurred if you were to refresh the Social Security wage base data. In this case, the download from the Social Security web page would fail. If you did not refresh the wage base data, then there was no problem.

If you refreshed the wage base data, then you would have the problem:
  • Function WageBase was off (during the download, the digits after the comma were dropped). For example, the wage base for 2024 would be $168 instead of $168,600.
  • Function CovComp and Function SocSec were off because of the WageBase issue.
  • ​The resulting values for Wage Base, Covered Compensation, and Social Security would be nearly zero, thankfully it is an error that is hard to miss!
]]><![CDATA[EAC Tools new version 2024.1.1]]>Fri, 10 Nov 2023 16:43:36 GMThttps://endresactuarial.com/news/eac-tools-new-version-202211Fixed a bug that popped up in version 2024.1.0: This affected only the AESLtoJL function where the "years certain" parameter was set to, for example, "5,0". In this example, the function would use 5-years certain for the SL annuity, and 0-years certain for the JL annuity. The bug was using incorrectly treating "5,0" as a number instead of a text string, resulting in using 50-years certain for the SL annuity.]]><![CDATA[EAC Tools new version 2024.1.0 updated for 2024]]>Fri, 20 Oct 2023 18:45:44 GMThttps://endresactuarial.com/news/eac-tools-new-version-202410-updated-for-2024
  • Added a new mortality improvement scale, 2024 Adjusted Scale MP–2021 Rates, announced by the IRS on October 20, 2023, and published here.
  • Added new 2024 IRS static mortality tables:
    -- 417(e) lump sum mortality table published in IRS Notice 2023-73.
    -- 430(h) static tables (male and female) published in IRS final regulations.
  • Note that the generational tables mentioned in the final regs already exist in EAC Tools. The "2012 Pri-2012 special base tables" are as follows:
    -- IRS2012BASE-ANN-M
    -- IRS2012BASE-ANN-F
    -- IRS2012BASE-NON-M
    -- ​IRS2012BASE-NON-F
    You can use these tables along with the mortality improvement scale of your choice to produce your desired mortality table.
  • Added September 2023 CPI to produce 2024 regulatory amounts (IRS amounts not announced at this time).
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