3 AAC 28.607 - Group annuity or pure endowment contracts

(a) Except as provided in (b) and (c) of this section, the 1983 GAM Table, the 1983 Table "a", and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the insurance company, any one of these tables may be used to determine the minimum standard of valuation for any annuity or pure endowment purchased on or after July 1, 1978 under a group annuity or pure endowment contract.

(b) Except as provided in (c) of this section, either the 1983 GAM Table or the 1994 GAR Table must be used to determine the minimum standard of valuation for any annuity or pure endowment purchased on or after December 31,1985 under a group annuity or pure endowment contract.

(c) The 1994 GAR Table must be used to determine the minimum standard of valuation for any annuity or pure endowment purchased on or after March 11, 1998 under a group annuity or pure endowment contract.

Notes

3 AAC 28.607

Eff. 12/26/2014, Register 212, January 2015

The 1983 Table "a", the 1983 GAM Table, and the 1994 GAR Table referenced in 3 AAC 28.607 may be obtained from the Society of Actuaries; 475 N, Martingale Road, Suite 600; Schaumburg, Illinois 60173; telephone number (847) 706-3500.

Authority:AS 21.06.090

AS 21.18.110

AS 21.18.160