Updates on RP-2014 and Scale MP-2014 Resources
As anticipated in last week's communication, the Society of Actuaries (SOA) has released a revised RP-2014 Mortality Tables Report, which includes the previously announced corrections to the collar- and quartile-specific Employee mortality rates. The revised report is available on the SOA website.
The RP-2014 Comment Response Document's Section 3 has also been updated with the latest progress made in the effort to provide Pension Benefit Guaranty Corporation (PBGC) mortality data to the SOA.
In addition to the revised materials, the SOA's Retirement Plans Experience Committee (RPEC) has announced the release of two additional resources related to the RP-2014 and Mortality Improvement Scale MP-2014 reports:
Headcount-weighted versions of the RP-2014 tables
An additional set of tables has been developed using the same underlying datasets and method used to construct the RP-2014 tables, but with mortality rates weighted by headcount rather than by amount. RPEC believes that these headcount-weighted mortality tables, denoted RPH-2014, might be more suitable than amount-weighted rates in certain applications. These new tables can be found in the Supplement to the RP-2014 Mortality Tables Report.
A new Excel-based tool that implements the RPEC_2014 model
The MP-2014 Report acknowledges that some actuaries may wish to construct two-dimensional mortality improvement scales based on assumption sets other than that used by RPEC to construct Scale MP-2014. This tool produces two-dimensional mortality improvement rates under the RPEC_2014 model based on user-selected assumption sets. Download the RPEC_2014 model implementation tool.
As anticipated in last week's communication, the Society of Actuaries (SOA) has released a revised RP-2014 Mortality Tables Report, which includes the previously announced corrections to the collar- and quartile-specific Employee mortality rates. The revised report is available on the SOA website.
The RP-2014 Comment Response Document's Section 3 has also been updated with the latest progress made in the effort to provide Pension Benefit Guaranty Corporation (PBGC) mortality data to the SOA.
In addition to the revised materials, the SOA's Retirement Plans Experience Committee (RPEC) has announced the release of two additional resources related to the RP-2014 and Mortality Improvement Scale MP-2014 reports:
Headcount-weighted versions of the RP-2014 tables
An additional set of tables has been developed using the same underlying datasets and method used to construct the RP-2014 tables, but with mortality rates weighted by headcount rather than by amount. RPEC believes that these headcount-weighted mortality tables, denoted RPH-2014, might be more suitable than amount-weighted rates in certain applications. These new tables can be found in the Supplement to the RP-2014 Mortality Tables Report.
A new Excel-based tool that implements the RPEC_2014 model
The MP-2014 Report acknowledges that some actuaries may wish to construct two-dimensional mortality improvement scales based on assumption sets other than that used by RPEC to construct Scale MP-2014. This tool produces two-dimensional mortality improvement rates under the RPEC_2014 model based on user-selected assumption sets. Download the RPEC_2014 model implementation tool.
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