- 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.
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11 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:
Added 2025 IRS static mortality tables published in IRS Notice 2024-42:
EAC Tools has the following enhancements:
You now can view tables and charts showing:
These charts are available from the EAC Tools "Special" menu.  EAC 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. Fixed 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.
Fixed 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:
Fixed 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.
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