Mortality Improvement Updates
The Society of Actuaries (SOA) released its annually updated mortality improvement scale for pension plans, MP-2017. As a Bloomberg article notes, the updates reflect that age-adjusted U.S. population mortality rates increased 1.2% between 2014 and 2015. The updated scale suggests that life expectancies declined slightly, which may also decrease pension plan obligations slightly.
MP-2017 incorporates the latest publicly available mortality data from the Social Security Administration through 2013. Additionally, MP-2017 includes 2014 data and preliminary 2015 data, developed by the SOA and obtained from the Centers for Disease Control and Prevention, Centers for Medicare and Medicaid Services, and the U.S. Census Bureau.
The Society of Actuaries (SOA) released its annually updated mortality improvement scale for pension plans, MP-2017. As a Bloomberg article notes, the updates reflect that age-adjusted U.S. population mortality rates increased 1.2% between 2014 and 2015. The updated scale suggests that life expectancies declined slightly, which may also decrease pension plan obligations slightly.
MP-2017 incorporates the latest publicly available mortality data from the Social Security Administration through 2013. Additionally, MP-2017 includes 2014 data and preliminary 2015 data, developed by the SOA and obtained from the Centers for Disease Control and Prevention, Centers for Medicare and Medicaid Services, and the U.S. Census Bureau.
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