PVSLGAT2003 calculates the present value of a single life annuity
based on assumptions for interest and the values for the following parameters:
·
MortalityTable = 417(e)(3) Applicable Mortality Table (Rev
Rul 2001-62); this
is the lump sum table for 2003 through 2008 = “GATT2003” = “LS2003”
·
Frequency = 12 (monthly)
·
COLA = 0 (no COLA)
·
CalculationMethod = 0 (interpolation on whole ages)
·
NoPreRetMort = 0 (use pre-retirement
mortality)
·
StopAge = 0 (continue to end of table)
·
AnnTiming = 0 (beginning of period)
·
YrsCertOption = 0 (interpolation on whole
years)
Syntax
PVSLGATT2003(CurrentAge, CommencementAge, InterestRate,
[YearsCertain])
|
Parameter Name |
Description |
|
CurrentAge |
Current age of the annuitant (i.e. the
age at the valuation date). May be provided as an integer, or as a fractional
amount (e.g. years & months). |
|
CommencementAge |
Age of primary annuitant 𝑥 at benefit commencement. ·
If CommencementAge >
CurrentAge then it will be valued as a deferred annuity. ·
If CommencementAge
is missing or zero, then CommencementAge is assumed to be = CurrentAge
and it will be valued as an immediate annuity |
|
InterestRate |
The interest rate(s) to discount future
payments to calculate the present value. May be a number, a percentage, a
text string, a named range, or reference to a range. ·
Rates
can be defined using these interest definitions. ·
Note:
A value that is greater than 25% (i.e. 0.25) will be divided by 100; e.g.
if you enter 2.75 it will be treated as .0275 or 2.75%. |
|
YearsCertain |
Number of years guaranteed payments. May
be an integer, or a factional amount (e.g. years & months). |
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