NOTICES
PUBLIC SCHOOL EMPLOYEES'
RETIREMENT BOARD
Actuarial Tables
[43 Pa.B. 2537]
[Saturday, May 4, 2013]The act of December 20, 1995 (P. L. 689, No. 77) (Act 77) amended 24 Pa.C.S. § 8502(h) and (j) (relating to administrative duties of board) to require the Public School Employees' Retirement Board (Board) to publish in the Pennsylvania Bulletin the actuarial tables used by the Public School Employees' Retirement System (PSERS) in calculating annuities and other benefits. The Board adopted the following actuarial tables at its March 11, 2011, meeting. The actuarial tables are effective July 1, 2013. Accordingly, these actuarial tables are being published as required under Act 77.
JEFFREY B. CLAY,
Executive DirectorThe following material provides general information and actuarial tables for computing an estimated regular (nondisability) retirement benefit from PSERS. Also included is the Present Value of $1 Annuity Using Disability Mortality table.
General Information A vestee or any other eligible member upon termination of school service who has not withdrawn his accumulated deductions may apply for and elect to receive either a maximum single life annuity (MSLA) or a reduced annuity (Reduced MSLA) certified by the actuary to be actuarially equivalent to the maximum single life annuity and in accordance with one of the options under the Optional Forms of an Annuity section of this document. Optional forms of an annuity are considered to be ''actuarially equivalent'' if they have the same present value (PV) as the present value of the maximum single life annuity. A Class T-E or Class T-F member may not receive an annual benefit, calculated as of the effective date of retirement, greater than the member's final average salary.
A vestee who retires on or after attaining superannuation age is entitled to a ''normal'' annuity, also known as a superannuation or full annuity, where no age or service-related penalties (for retiring early) are applied to the MSLA.
Superannuation or normal retirement age is defined by Membership Class as:
Membership Class Age T-A 62 or any age upon accrual of 35 eligibility points (service credits) T-B 62 T-C and T-D 62 or age 60 provided the member has at least 30 eligibility points (service credits), or any age upon accrual of 35 eligibility points T-E and T-F 65 with accrual of at least three eligibility points or a combination of age and eligibility points totaling 92, provided the member has accrued at least 35 eligibility points A vestee who retires prior to attaining superannuation age is entitled to an ''early'' or ''withdrawal'' annuity, where the MSLA is reduced due to retiring early. This early retirement reduction is based on how far away from superannuation age the member is on the effective date of retirement.
A key component in the computation of a PSERS' retirement benefit is the final average salary (FAS). PSERS' retirement code defines final average salary as the highest compensation received as an active member for any three nonoverlapping periods of 12 consecutive months. Compensation for part-time service is annualized on the basis of the fractional portion of the school year for which credit is received. This period is frequently the most recent 3 fiscal year period.
Calculating the MSLA Calculating all forms of a (nondisability) retirement benefit begins with calculating the MSLA.
For Class T-C members, the MSLA is calculated as:
MSLA = 2.0% X Total Class T-C Service Credits X FAS X Early Retirement Factor* For Class T-D members, the MSLA is calculated as:
MSLA = 2.0% X Total Class T-C Service Credits X FAS X Early Retirement Factor* + 2.5% X Total Class T-D Service Credits X FAS X Early Retirement Factor* For Class T-E members, the MSLA is calculated as:
MSLA = 2.0% X Total Class T-E Service Credits X FAS X Early Retirement Factor* MSLA is limited to 100% of FAS.
For Class T-F members, the MSLA is calculated as:
MSLA = 2.5% X Total Class T-F Service Credits X FAS X Early Retirement Factor* MSLA is limited to 100% of FAS.
*Except for superannuated members and members who have attained 55 years of age and have 25 or more service credits, the Early Retirement Factor can be found in Table 3 Early Retirement Factors—Unisex. The Early Retirement Factor for members who have attained superannuation age is 1.0, which results in no reduction. The reduction for those members who have attained 55 years of age and have 25 or more service credits is equal to 1/4% multiplied by the number of months, including a fraction of a month as a full month, by which the effective date of retirement precedes superannuation age.
Calculating the Present Value of the MSLA As previously noted in the general information section, optional forms of an annuity are considered to be ''actuarially equivalent'' to the MSLA if they have the same PV as the present value of the MSLA. The PV of the MSLA is calculated as:
PV of the MSLA = MSLA X PV of $1 Annuity on the Effective Date of Retirement* *See Table 1 Present Value of $1 Annuity—Unisex
Optional Forms of an Annuity Acceptable optional forms of an annuity are:
Option 1.—A life annuity to the member with a guaranteed total payment equal to the PV of the MSLA on the effective date of retirement with the provision that, if, at his death, he has received less than such present value, the unpaid balance shall be payable to his beneficiary. The Option 1 Annuity is made to be actuarially equivalent to the MSLA by applying an Option 1 Reducing Factor, which is based on the age of the member as of the effective date of retirement, to the MSLA.
The reduced Option 1 annuity is calculated as:
Reduced Option 1 Annuity = MSLA X Option 1 Reducing Factor* *See Table 2 Service Option 1 Reducing Factors—Unisex
Option 2.—A joint and survivor annuity payable during the lifetime of the member with the full amount of such annuity payable thereafter to his survivor annuitant, if living at his death. The Option 2 Annuity is made to be actuarially equivalent to the MSLA by applying an Option 2 Reducing Factor, which is based on the age of the member and the age of the survivor as of the effective date of retirement, to the MSLA.
An Option 2 annuity is calculated as:
Reduced Option 2 Annuity = MSLA X Option 2 Reducing Factor* *See Table 4 Factors for Obtaining Annuities and Pensions Under Option 2—Unisex
Option 3.—A joint and 50% survivor annuity payable during the lifetime of the member with one-half of such annuity payable thereafter to his survivor annuitant, if living at his death. The Option 3 Annuity is made to be actuarially equivalent to the MSLA by applying an Option 3 Reducing Factor, which is based on the age of the member and the age of the survivor as of the effective date of retirement, to the MSLA.
An Option 3 annuity is calculated as:
Reduced Option 3 Annuity = MSLA X Option 3 Reducing Factor* *See Table 5 Factors for Obtaining Annuities and Pensions Under Option 3—Unisex
Option 4.—Some other benefit certified by the actuary to be actuarially equivalent to the MSLA, subject to the following restrictions:
(i) Any annuity shall be payable without reduction during the lifetime of the member.
(ii) The sum of all annuities payable to the designated survivor annuitants shall not be greater than one and one-half times the annuity payable to the member.
(iii) A portion of the benefit may be payable as a lump sum, except that such lump sum payment shall not exceed an amount equal to the accumulated deductions standing to the credit of the member. The balance of the present value of the maximum single life annuity shall be paid in the form of an annuity with a guaranteed total payment, a single life annuity or a joint and survivor annuity or any combination thereof but subject to the restrictions of subparagraphs (i) and (ii) of this paragraph. This subparagraph shall not apply to a Class T-E or Class T-F member. This option is often referred to as Special Option 4 Partial Lump Sum Withdrawal.
The most common form of Option 4 is that described in subparagraph (iii). The reduction to the MSLA on account of a Partial Lump Sum Withdrawal is calculated as:
Special Option 4 Partial Lump Sum Withdrawal Reduction = Partial Lump Sum Payment Amount / Present Value of $1 Annuity* *See Table 1 Present Value of $1 Annuity—Unisex
The Special Option 4 Partial Lump Sum Withdrawal Annuity is calculated as:
Special Option 4 Lump Sum Withdrawal Annuity = MSLA − Special Option 4 Lump Sum Withdrawal Reduction Other forms of Option 4 must also be actuarial equivalent to the MSLA and are calculated by PSERS' actuary.
Combining Optional Form 1, 2 or 3 of an Annuity with the Special Option 4 Partial Lump Sum Withdrawal When combining Optional Form 1, 2 or 3 of an Annuity with the Partial Special Option 4 Partial Lump Sum Withdrawal, the annuity is calculated as:
Annuity = Special Option 4 Lump Sum Withdrawal Annuity X Appropriate Option (1, 2 or 3) Reducing Factor *See Table 2, 4 or 5, as appropriate, based on the Option.
Actuarial Tables for Regular (Non-Disability) Retirements
(Adopted March 11, 2011; Effective July 1, 2013)
Table 1
Present Value of $1 Annuity—Unisex
Age at
RetirementAge Age 51 18.311 81 7.954 22 23.026 52 18.052 82 7.586 23 22.932 53 17.784 83 7.222 24 22.835 54 17.508 84 6.862 25 22.734 55 17.224 85 6.510 26 22.629 56 16.931 86 6.166 27 22.519 57 16.629 87 5.831 28 22.406 58 16.318 88 5.508 29 22.288 59 15.999 89 5.197 30 22.165 60 15.674 90 4.900 31 22.038 61 15.341 91 4.620 32 21.905 62 15.000 92 4.359 33 21.768 63 14.653 93 4.118 34 21.625 64 14.301 94 3.899 35 21.478 65 13.943 95 3.700 36 21.326 66 13.582 96 3.521 37 21.169 67 13.218 97 3.361 38 21.007 68 12.851 98 3.219 39 20.839 69 12.481 99 3.092 40 20.665 70 12.109 100 2.978 41 20.485 71 11.734 101 2.875 42 20.298 72 11.356 102 2.779 43 20.106 73 10.975 103 2.686 44 19.906 74 10.595 104 2.590 45 19.700 75 10.214 105 2.491 46 19.487 76 9.833 106 2.391 47 19.267 77 9.454 107 2.291 48 19.039 78 9.076 108 2.188 49 18.804 79 8.700 109 2.080 50 18.562 80 8.326 110 1.955
Table 2
Service Option 1 Reducing Factors—Unisex
Age at Retirement Age at Retirement Age at Retirement 51 0.9795 81 0.7892 22 0.9975 52 0.9776 82 0.7773 23 0.9973 53 0.9754 83 0.7650 24 0.9972 54 0.9730 84 0.7510 25 0.9971 55 0.9704 85 0.7371 26 0.9969 56 0.9676 86 0.7233 27 0.9967 57 0.9643 87 0.7074 28 0.9965 58 0.9607 88 0.6915 29 0.9962 59 0.9568 89 0.6759 30 0.9960 60 0.9527 90 0.6599 31 0.9957 61 0.9481 91 0.6426 32 0.9953 62 0.9432 92 0.6262 33 0.9949 63 0.9380 93 0.6110 34 0.9944 64 0.9325 94 0.5974 35 0.9940 65 0.9264 95 0.5828 36 0.9935 66 0.9204 96 0.5695 37 0.9930 67 0.9141 97 0.5577 38 0.9925 68 0.9073 98 0.5481 39 0.9920 69 0.9004 99 0.5402 40 0.9914 70 0.8933 100 0.5342 41 0.9907 71 0.8857 101 0.5289 42 0.9900 72 0.8777 102 0.5236 43 0.9892 73 0.8694 103 0.5194 44 0.9884 74 0.8608 104 0.5153 45 0.9875 75 0.8516 105 0.5115 46 0.9864 76 0.8423 106 0.5092 47 0.9853 77 0.8327 107 0.5098 48 0.9841 78 0.8223 108 0.5085 49 0.9827 79 0.8120 109 0.5137 50 0.9812 80 0.8012 110 0.5308
Table 3
Early Retirement Factors—Unisex
Superannuation Age
Age at Retirement 50 51 52 53 54 55 56 57 58 59 60 25 0.301835 0.285897 0.270596 0.255906 0.241806 0.228274 0.215289 0.202832 0.190885 0.179429 0.168448 26 0.315442 0.298786 0.282794 0.267443 0.252707 0.238565 0.224995 0.211976 0.199490 0.187517 0.176041 27 0.329731 0.312321 0.295605 0.279558 0.264154 0.249371 0.235187 0.221579 0.208527 0.196012 0.184016 28 0.344744 0.326541 0.309064 0.292286 0.276181 0.260725 0.245895 0.231667 0.218021 0.204936 0.192394 29 0.360523 0.341487 0.323210 0.305664 0.288822 0.272659 0.257150 0.242271 0.228000 0.214316 0.201200 30 0.377116 0.357204 0.338085 0.319732 0.302115 0.285208 0.268985 0.253421 0.238494 0.224180 0.210460 31 0.394573 0.373739 0.353736 0.334533 0.316100 0.298410 0.281436 0.265152 0.249534 0.234558 0.220203 32 0.412948 0.391144 0.370210 0.350112 0.330821 0.312308 0.294543 0.277501 0.261155 0.245481 0.230458 33 0.432301 0.409475 0.387559 0.366520 0.346325 0.326944 0.308347 0.290506 0.273394 0.256986 0.241258 34 0.452695 0.428792 0.405842 0.383811 0.362663 0.342367 0.322893 0.304210 0.286291 0.269109 0.252640 35 0.474197 0.449159 0.425119 0.402041 0.379889 0.358629 0.338230 0.318660 0.299889 0.281891 0.264640 36 0.496882 0.470646 0.445456 0.421274 0.398062 0.375786 0.354410 0.333904 0.314236 0.295376 0.277300 37 0.520829 0.493329 0.466925 0.441578 0.417247 0.393897 0.371491 0.349996 0.329380 0.309612 0.290664 38 0.546125 0.517289 0.489603 0.463024 0.437512 0.413028 0.389534 0.366995 0.345378 0.324649 0.304781 39 0.572864 0.542616 0.513575 0.485695 0.458933 0.433250 0.408606 0.384964 0.362288 0.340545 0.319704 40 0.601149 0.569408 0.538932 0.509676 0.481593 0.454642 0.428781 0.403971 0.380176 0.357359 0.335489 41 0.631092 0.597770 0.565776 0.535062 0.505581 0.477287 0.450138 0.424093 0.399112 0.375159 0.352199 42 0.662816 0.627818 0.594216 0.561959 0.530995 0.501279 0.472766 0.445411 0.419175 0.394017 0.369904 43 0.696455 0.659681 0.624374 0.590479 0.557944 0.526720 0.496759 0.468016 0.440448 0.414014 0.388677 44 0.732156 0.693497 0.656380 0.620747 0.586545 0.553720 0.522223 0.492007 0.463026 0.435237 0.408601 45 0.770081 0.729420 0.690380 0.652902 0.616928 0.582402 0.549274 0.517493 0.487011 0.457782 0.429766 46 0.810409 0.767618 0.726534 0.687093 0.649235 0.612902 0.578039 0.544594 0.512515 0.481755 0.452272 47 0.853335 0.808278 0.765018 0.723488 0.683625 0.645367 0.608657 0.573440 0.539662 0.507274 0.476229 48 0.899078 0.851605 0.806026 0.762270 0.720270 0.679961 0.641284 0.604179 0.568590 0.534466 0.501757 49 0.947877 0.897828 0.849775 0.803644 0.759364 0.716867 0.676091 0.636972 0.599452 0.563475 0.528990 50 0.947198 0.896503 0.847835 0.801120 0.756287 0.713268 0.671999 0.632415 0.594460 0.558079 51 0.946479 0.895098 0.845779 0.798446 0.753030 0.709459 0.667669 0.627598 0.589189 52 0.945714 0.893606 0.843597 0.795612 0.749577 0.705424 0.663087 0.622507 53 0.944901 0.892021 0.841282 0.792605 0.745917 0.701150 0.658240 54 0.944037 0.890339 0.838823 0.789413 0.742035 0.696623 55 0.943118 0.888549 0.836210 0.786024 0.737920 56 0.942140 0.886644 0.833430 0.782425 57 0.941096 0.884615 0.830477 58 0.939983 0.882457 59 0.938801 60 61 62 63 64 65 66 67 68 69 70
Table 3
Early Retirement Factors—Unisex
Superannuation Age
Age at Retirement 61 62 63 64 65 66 67 68 69 70 25 0.157927 0.147851 0.138207 0.128982 0.120163 0.111740 0.103704 0.096045 0.088752 0.081819 26 0.165046 0.154516 0.144438 0.134796 0.125580 0.116778 0.108379 0.100374 0.092753 0.085507 27 0.172523 0.161516 0.150981 0.140902 0.131269 0.122068 0.113289 0.104921 0.096955 0.089380 28 0.180378 0.168870 0.157855 0.147318 0.137245 0.127625 0.118447 0.109698 0.101369 0.093450 29 0.188634 0.176599 0.165080 0.154060 0.143527 0.133467 0.123868 0.114719 0.106009 0.097727 30 0.197316 0.184727 0.172678 0.161151 0.150133 0.139610 0.129569 0.119999 0.110888 0.102225 31 0.206449 0.193278 0.180671 0.168611 0.157083 0.146072 0.135567 0.125554 0.116021 0.106957 32 0.216064 0.202279 0.189085 0.176463 0.164398 0.152875 0.141881 0.131401 0.121425 0.111938 33 0.226190 0.211759 0.197946 0.184733 0.172103 0.160040 0.148530 0.137560 0.127115 0.117184 34 0.236860 0.221749 0.207284 0.193448 0.180222 0.167589 0.155537 0.144049 0.133112 0.122712 35 0.248111 0.232282 0.217130 0.202636 0.188782 0.175550 0.162924 0.150891 0.139434 0.128541 36 0.259980 0.243394 0.227517 0.212330 0.197813 0.183948 0.170718 0.158109 0.146105 0.134690 37 0.272510 0.255124 0.238482 0.222563 0.207346 0.192813 0.178946 0.165729 0.153146 0.141182 38 0.285745 0.267515 0.250065 0.233373 0.217417 0.202178 0.187637 0.173779 0.160584 0.148039 39 0.299736 0.280613 0.262309 0.244799 0.228062 0.212077 0.196824 0.182287 0.168447 0.155287 40 0.314535 0.294468 0.275260 0.256886 0.239322 0.222548 0.206543 0.191287 0.176764 0.162954 41 0.330202 0.309135 0.288971 0.269682 0.251243 0.233633 0.216830 0.200815 0.185568 0.171071 42 0.346800 0.324675 0.303497 0.283238 0.263872 0.245377 0.227730 0.210910 0.194896 0.179670 43 0.364401 0.341152 0.318899 0.297612 0.277264 0.257830 0.239287 0.221614 0.204788 0.188788 44 0.383080 0.358640 0.335247 0.312868 0.291477 0.271047 0.251554 0.232974 0.215285 0.198466 45 0.402924 0.377218 0.352612 0.329075 0.306576 0.285087 0.264584 0.245042 0.226437 0.208746 46 0.424024 0.396972 0.371078 0.346308 0.322630 0.300017 0.278440 0.257874 0.238295 0.219678 47 0.446485 0.417999 0.390734 0.364652 0.339720 0.315908 0.293188 0.271534 0.250917 0.231314 48 0.470418 0.440406 0.411679 0.384199 0.357930 0.332842 0.308905 0.286089 0.264368 0.243714 49 0.495951 0.464310 0.434023 0.405052 0.377358 0.350908 0.325671 0.301617 0.278717 0.256942 50 0.523223 0.489842 0.457890 0.427325 0.398108 0.370204 0.343579 0.318203 0.294043 0.271071 51 0.552390 0.517148 0.483415 0.451146 0.420301 0.390841 0.362732 0.335941 0.310434 0.286182 52 0.583626 0.546391 0.510751 0.476658 0.444068 0.412942 0.383244 0.354938 0.327989 0.302365 53 0.617128 0.577756 0.540069 0.504019 0.469558 0.436646 0.405243 0.375312 0.346816 0.319721 54 0.653114 0.611446 0.571562 0.533409 0.496939 0.462108 0.428874 0.397197 0.367040 0.338365 55 0.691831 0.647693 0.605444 0.565030 0.526398 0.489502 0.454297 0.420743 0.388798 0.358423 56 0.733557 0.686756 0.641960 0.599108 0.558146 0.519025 0.481697 0.446119 0.412247 0.380040 57 0.778607 0.728933 0.681385 0.635902 0.592424 0.550900 0.511280 0.473517 0.437565 0.403380 58 0.827341 0.774557 0.724034 0.675703 0.629505 0.585381 0.543282 0.503155 0.464953 0.428628 59 0.880165 0.824012 0.770262 0.718846 0.669698 0.622757 0.577969 0.535281 0.494639 0.455995 60 0.937542 0.877728 0.820475 0.765707 0.713354 0.663354 0.615646 0.570175 0.526884 0.485721 61 0.936201 0.875134 0.816717 0.760877 0.707545 0.656660 0.608160 0.561984 0.518079 62 0.934771 0.872374 0.812728 0.755762 0.701409 0.649604 0.600282 0.553385 63 0.933248 0.869441 0.808500 0.750354 0.694933 0.642170 0.592000 64 0.931629 0.866329 0.804024 0.744639 0.688102 0.634343 65 0.929908 0.863030 0.799288 0.738601 0.680897 66 0.928082 0.859534 0.794273 0.732220 67 0.926141 0.855823 0.788961 68 0.924074 0.851880 69 0.921875 70
Table 4
Factors for Obtaining Annuities and Pensions Under Option 2—Unisex
Member Age
Age of
Survivor
Annuitant
at Member's
Retirement25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 105 110 5 0.9362 0.9142 0.8869 0.8542 0.8150 0.7685 0.7135 0.6496 0.5782 0.5023 0.4238 0.3456 0.2703 0.2035 0.1536 0.1237 0.1035 0.0817 10 0.9439 0.9226 0.8957 0.8631 0.8238 0.7769 0.7215 0.6569 0.5847 0.5080 0.4287 0.3495 0.2733 0.2058 0.1554 0.1251 0.1047 0.0827 15 0.9523 0.9321 0.9060 0.8737 0.8344 0.7873 0.7313 0.6661 0.5930 0.5152 0.4348 0.3545 0.2773 0.2087 0.1576 0.1269 0.1062 0.0839 20 0.9608 0.9423 0.9175 0.8861 0.8471 0.7999 0.7434 0.6774 0.6031 0.5242 0.4424 0.3608 0.2822 0.2124 0.1604 0.1291 0.1081 0.0854 25 0.9688 0.9527 0.9299 0.9000 0.8619 0.8149 0.7581 0.6912 0.6158 0.5353 0.4519 0.3686 0.2883 0.2170 0.1639 0.1320 0.1105 0.0873 30 0.9760 0.9626 0.9426 0.9151 0.8788 0.8327 0.7759 0.7083 0.6315 0.5493 0.4639 0.3784 0.2960 0.2229 0.1683 0.1355 0.1135 0.0896 35 0.9821 0.9714 0.9548 0.9307 0.8972 0.8531 0.7971 0.7291 0.6510 0.5668 0.4790 0.3909 0.3059 0.2304 0.1740 0.1401 0.1173 0.0927 40 0.9868 0.9788 0.9657 0.9457 0.9163 0.8755 0.8216 0.7541 0.6749 0.5887 0.4980 0.4067 0.3184 0.2399 0.1812 0.1459 0.1221 0.0966 45 0.9905 0.9847 0.9749 0.9592 0.9348 0.8989 0.8488 0.7833 0.7040 0.6160 0.5221 0.4270 0.3345 0.2521 0.1905 0.1534 0.1284 0.1016 50 0.9932 0.9892 0.9821 0.9706 0.9516 0.9218 0.8776 0.8163 0.7388 0.6498 0.5529 0.4533 0.3557 0.2682 0.2028 0.1633 0.1368 0.1082 55 0.9952 0.9925 0.9876 0.9795 0.9656 0.9427 0.9060 0.8517 0.7788 0.6909 0.5919 0.4875 0.3837 0.2899 0.2193 0.1767 0.1480 0.1172 60 0.9966 0.9948 0.9916 0.9862 0.9767 0.9601 0.9320 0.8870 0.8222 0.7390 0.6401 0.5317 0.4209 0.3191 0.2419 0.1950 0.1635 0.1296 65 0.9977 0.9965 0.9944 0.9910 0.9849 0.9737 0.9536 0.9192 0.8656 0.7915 0.6970 0.5870 0.4694 0.3583 0.2726 0.2202 0.1848 0.1468 70 0.9985 0.9977 0.9964 0.9943 0.9905 0.9835 0.9702 0.9458 0.9050 0.8442 0.7596 0.6529 0.5309 0.4099 0.3139 0.2544 0.2139 0.1704 75 0.9990 0.9986 0.9978 0.9965 0.9942 0.9901 0.9820 0.9660 0.9376 0.8921 0.8232 0.7272 0.6064 0.4773 0.3698 0.3015 0.2546 0.2038 80 0.9994 0.9992 0.9987 0.9979 0.9967 0.9944 0.9898 0.9802 0.9620 0.9314 0.8810 0.8034 0.6937 0.5628 0.4450 0.3669 0.3120 0.2518 85 0.9997 0.9995 0.9993 0.9988 0.9982 0.9970 0.9945 0.9891 0.9785 0.9598 0.9271 0.8720 0.7838 0.6632 0.5416 0.4551 0.3920 0.3209 90 0.9998 0.9998 0.9996 0.9994 0.9990 0.9984 0.9972 0.9944 0.9884 0.9779 0.9584 0.9235 0.8615 0.7638 0.6511 0.5628 0.4948 0.4142 95 0.9999 0.9999 0.9998 0.9997 0.9994 0.9991 0.9984 0.9969 0.9937 0.9876 0.9762 0.9548 0.9141 0.8425 0.7487 0.6679 0.6015 0.5180 100 1.0000 0.9999 0.9999 0.9998 0.9996 0.9995 0.9991 0.9982 0.9961 0.9923 0.9851 0.9712 0.9433 0.8909 0.8157 0.7458 0.6855 0.6055 105 1.0000 1.0000 0.9999 0.9999 0.9998 0.9997 0.9994 0.9988 0.9974 0.9949 0.9900 0.9805 0.9606 0.9209 0.8603 0.8005 0.7472 0.6730 110 1.0000 1.0000 1.0000 1.0000 0.9998 0.9998 0.9997 0.9993 0.9985 0.9970 0.9940 0.9879 0.9750 0.9472 0.9005 0.8509 0.8051 0.7383
Table 5
Factors for Obtaining Annuities and Pensions Under Option 3—Unisex
Member Age
Age of
Survivor
Annuitant
at Member's
Retirement25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 105 110 5 0.9670 0.9552 0.9401 0.9214 0.8981 0.8691 0.8328 0.7876 0.7327 0.6687 0.5953 0.5137 0.4255 0.3381 0.2664 0.2201 0.1876 0.1511 10 0.9712 0.9597 0.9450 0.9265 0.9034 0.8745 0.8382 0.7930 0.7379 0.6737 0.6001 0.5180 0.4293 0.3413 0.2690 0.2224 0.1896 0.1527 15 0.9756 0.9649 0.9506 0.9326 0.9097 0.8810 0.8448 0.7996 0.7445 0.6801 0.6061 0.5235 0.4342 0.3454 0.2723 0.2252 0.1920 0.1548 20 0.9800 0.9703 0.9570 0.9396 0.9172 0.8888 0.8528 0.8076 0.7525 0.6879 0.6135 0.5303 0.4402 0.3504 0.2765 0.2288 0.1951 0.1573 25 0.9842 0.9757 0.9637 0.9474 0.9258 0.8980 0.8625 0.8174 0.7622 0.6974 0.6225 0.5386 0.4476 0.3567 0.2817 0.2331 0.1990 0.1605 30 0.9879 0.9809 0.9705 0.9557 0.9355 0.9087 0.8738 0.8292 0.7741 0.7091 0.6337 0.5491 0.4568 0.3645 0.2882 0.2387 0.2038 0.1645 35 0.9910 0.9855 0.9769 0.9641 0.9458 0.9207 0.8871 0.8433 0.7886 0.7235 0.6477 0.5621 0.4685 0.3745 0.2964 0.2458 0.2099 0.1696 40 0.9934 0.9893 0.9826 0.9721 0.9564 0.9337 0.9021 0.8598 0.8059 0.7411 0.6649 0.5783 0.4830 0.3869 0.3068 0.2546 0.2177 0.1761 45 0.9952 0.9923 0.9873 0.9792 0.9663 0.9468 0.9182 0.8784 0.8263 0.7623 0.6861 0.5985 0.5013 0.4027 0.3200 0.2660 0.2277 0.1844 50 0.9966 0.9946 0.9910 0.9851 0.9752 0.9593 0.9348 0.8988 0.8498 0.7877 0.7121 0.6238 0.5247 0.4230 0.3372 0.2808 0.2406 0.1953 55 0.9976 0.9962 0.9938 0.9897 0.9825 0.9705 0.9507 0.9199 0.8756 0.8172 0.7436 0.6555 0.5546 0.4495 0.3597 0.3003 0.2579 0.2098 60 0.9983 0.9974 0.9958 0.9931 0.9882 0.9797 0.9648 0.9401 0.9024 0.8499 0.7805 0.6942 0.5924 0.4838 0.3895 0.3264 0.2811 0.2295 65 0.9989 0.9983 0.9972 0.9955 0.9923 0.9867 0.9763 0.9579 0.9279 0.8836 0.8214 0.7397 0.6389 0.5276 0.4283 0.3609 0.3119 0.2560 70 0.9993 0.9989 0.9982 0.9972 0.9953 0.9917 0.9848 0.9722 0.9501 0.9155 0.8634 0.7900 0.6936 0.5814 0.4777 0.4056 0.3525 0.2912 75 0.9995 0.9993 0.9989 0.9983 0.9971 0.9951 0.9909 0.9827 0.9678 0.9430 0.9030 0.8420 0.7550 0.6462 0.5399 0.4634 0.4058 0.3386 80 0.9997 0.9996 0.9993 0.9990 0.9983 0.9972 0.9949 0.9900 0.9807 0.9645 0.9367 0.8911 0.8192 0.7203 0.6158 0.5368 0.4756 0.4023 85 0.9998 0.9998 0.9996 0.9994 0.9991 0.9985 0.9972 0.9945 0.9891 0.9795 0.9622 0.9316 0.8788 0.7975 0.7026 0.6255 0.5633 0.4858 90 0.9999 0.9999 0.9998 0.9997 0.9995 0.9992 0.9986 0.9972 0.9942 0.9888 0.9787 0.9602 0.9255 0.8662 0.7886 0.7202 0.6620 0.5857 95 1.0000 1.0000 0.9999 0.9999 0.9997 0.9996 0.9992 0.9985 0.9968 0.9938 0.9879 0.9769 0.9551 0.9145 0.8563 0.8008 0.7512 0.6824 100 1.0000 1.0000 0.9999 0.9999 0.9998 0.9997 0.9995 0.9991 0.9981 0.9961 0.9925 0.9853 0.9708 0.9423 0.8985 0.8543 0.8135 0.7542 105 1.0000 1.0000 1.0000 1.0000 0.9999 0.9998 0.9997 0.9994 0.9987 0.9974 0.9949 0.9901 0.9798 0.9589 0.9248 0.8892 0.8554 0.8045 110 1.0000 1.0000 1.0000 1.0000 0.9999 0.9999 0.9998 0.9997 0.9992 0.9984 0.9970 0.9939 0.9874 0.9730 0.9475 0.9194 0.8919 0.8496
PRESENT VALUE OF $1 ANNUITY USING DISABILITY MORTALITY
___________________________ ___________________________ Age Unisex Age Unisex Age Unisex ______ ______ ______ 51 14.618 81 7.025 22 19.352 52 14.376 82 6.774 23 19.106 53 14.130 83 6.526 24 18.851 54 13.886 84 6.283 25 18.692 55 13.642 85 6.043 26 18.526 56 13.400 86 5.808 27 18.352 57 13.159 87 5.578 28 18.171 58 12.919 88 5.353 29 18.086 59 12.678 89 5.133 30 17.998 60 12.438 90 4.919 31 17.904 61 12.198 91 4.711 32 17.806 62 11.956 92 4.508 33 17.703 63 11.713 93 4.311 34 17.594 64 11.467 94 4.120 35 17.479 65 11.219 95 3.935 36 17.359 66 10.968 96 3.755 37 17.233 67 10.713 97 3.580 38 17.100 68 10.455 98 3.420 39 16.960 69 10.195 99 3.276 40 16.813 70 9.931 100 3.146 41 16.658 71 9.666 101 3.028 42 16.495 72 9.399 102 2.917 43 16.324 73 9.131 103 2.809 44 16.143 74 8.862 104 2.698 45 15.954 75 8.595 105 2.583 46 15.755 76 8.328 106 2.467 47 15.545 77 8.062 107 2.349 48 15.325 78 7.799 108 2.229 49 15.093 79 7.538 109 2.104 50 14.857 80 7.280 110 1.967 ___________________________ ___________________________
[Pa.B. Doc. No. 13-841. Filed for public inspection May 3, 2013, 9:00 a.m.]
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