PreRetDisc returns a pre-retirement discount factor, discounted from a future age 𝑥 + 𝑛 to a current age 𝑥, based on assumptions for interest, pre-retirement mortality, and termination.
Where
and the discount
factors for mortality and termination are as follows:
Syntax
PreRetDisc(CurrentAge, FutureAge, InterestRate, [MortalityTable], [AgeSetback],
[TurnoverTable], [CalculationMethod])
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Parameter Name |
Description |
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CurrentAge |
Current
age 𝑥.
May be provided as an integer, or as a fractional amount (e.g. years &
months). |
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FutureAge |
Future
age = 𝑥 + 𝑛. |
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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%. |
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MortalityTable |
Mortality
table definition text string. |
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AgeSetback |
Mortality table age set-back. A
negative number is a set-forward. |
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TurnoverTable |
One
of the published T-Tables = "t1", "t2", … ,
"t17"; or a named range of rates; or a reference to a range of
rates. |
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CalculationMethod |
Method of calculation for fractional ages.
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