SpotRate

SpotRate returns the spot rate from a yield curve for a given month/year. These rates are published by PensionSoft Corporation. 120% Federal mid-term rates are downloaded from this URL.

Syntax

SpotRate (Year, Month, RateType, Duration)

Parameter Name

Description

Year

Year (not before August 2007)

Month

Month (not before August 2007)

RateType

Defines which rate to return:

Option	Description
”IRS”	Returns the spot rate for Month/Year from the Treasury High Quality Market (HQM) Corporate Bond Yield Curve. These rates are published monthly by the IRS.
“FTSE”	Returns the spot rate for Month/Year from the FTSE Pension Discount Curve. These rates are published monthly by the Society of Actuaries.
“FTSEABOVE”	Returns the spot rate for Month/Year from the FTSE Above Median Double-A Curve. These rates are published monthly by the Yield Book.
“ERISA4044”	Returns the spot rate for Month/Year from the ERISA 4044 Yield Curve. These rates are published monthly by the PBGC. ERISA 4044 rates are used for determining the present value of annuities for involuntary or distress terminations as well as valuing benefits under multiemployer plans following a mass withdrawal.

Duration

Defines the maturity, or years, of the rate to be returned: 0.5, 1.0, 1.5, 2.0, 2.5, …

· IRS allowable value are: 0.5 to 100.0 by .5

· ERISA4044 allowable value are: 0.5 to 100.0 by .5

· FTSE allowable value are: 0.5 to 30.0 by .5

· FTSEABOVE allowable value are: 0.5 to 30.0 by .5