User-Defined Mortality Table
To create a user-defined table in a text file, follow the layout of this sample file. Save the file in the same folder where the eac_pv.xlam add-in resides. A worksheet tool to do this is available here -- create your q's, and the tool will automatically create the text file.
RP-2014 Combined Mortality Table
Note that the Society of Actuaries Report issued November 2014 does not provide combined tables: “This RP-2014 report does not include mortality tables analogous to the “Combined Healthy” tables in the RP-2000 report. Actuaries who wish to develop Combined Healthy tables are encouraged to blend appropriately selected RP-2014 Employee and Healthy Retiree tables, taking plan-specific demographic information in to account.”
The tool provides three ways to use a combined table:
The tool provides three ways to use a combined table:
- The user may create a combined table on a worksheet, name the range of q’s, and use the name in the present value functions. A sample worksheet is provided showing how to do this, using Employee and Annuitant tables plus user-provided retirement rate assumptions.
- The user may create a combined table that is saved in a text file. A worksheet tool to do this is available here. A sample text file is available here.
- If there is just one retirement age, it is simple to produce a combined table using "employee" rates until retirement and "retiree" rates thereafter: to produce a “combined” table for retirement at age 62, for example, append “-C62” to the table name. For example:
“RP2014-E-M-C62”, or “RP2014-BC--M-C62”.