Utah Admin. Code R590-96-3 - Definitions
Terms used in this rule are defined in Section 31A-1-301. Additional terms are defined as follows:
(1)
"1983 Table (a)" means the mortality table developed by the Society of
Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity
Valuation, adopted by the NAIC in June 1982 as a recognized mortality table for
annuities, and published in the 1982 Proceedings of the NAIC II, page
454.
(2) "1983 GAM Table" means the
mortality table developed by the Society of Actuaries Committee on Annuities,
adopted by the NAIC in December 1983 as a recognized mortality table for
annuities, and published in 1984 Proceedings of the NAIC I, pages
414-415.
(3) "1994 GAM Table" means
the 1994 Group Annuity Mortality Static Table, a period table containing loaded
mortality rates for calendar year 1994, developed by the Society of Actuaries
Group Annuity Valuation Table Task Force, and published in the Transactions of
the Society of Actuaries, Vol. XLVII (1995), pages 898-899.
(4) "1994 GAR Table" means the 1994 Group
Annuity Reserving Table, a generational mortality table developed by the
Society of Actuaries Group Annuity Valuation Table Task Force, derived from a
combination of 1994 GAM Table and the Projection Scale AA as described in
Subsection
R590-96-7,
adopted by the NAIC in December 1996 as a recognized mortality table for
annuities, and published in the Transactions of the Society of Actuaries, Vol.
XLVII (1995), pages 866-867.
(5)
"Annuity 2000 Mortality Table" means the mortality table developed by the
Society of Actuaries Committee on Life Insurance Research adopted by the NAIC
in December 1996 as a recognized mortality table for annuities, and published
in the Transactions of the Society of Actuaries, Vol. XLVII (1995), page
240.
(6) "2012 IAM Period Table"
means the period table containing loaded mortality rates for calendar year
2012, developed by the Society of Actuaries Committee on Life Insurance
Research, and published in the 2012 Proceedings of the NAIC, Fall Volume I,
pages 149-150.
(7) "2012 IAR
Table" means the generational mortality table developed by Society of Actuaries
Committee on Life Insurance Research, derived from a combination of the 2012
IAM Period Table and the Projection Scale G2 as described in Subsection
R590-96-5,
adopted by the NAIC in December 2012, and published in the 2012 Proceedings of
the NAIC, Fall Volume I, pages 149-152.
(8) "Generational Mortality Table" means a
mortality table containing a set of mortality rates that decrease for a given
age from one year to the next based on a combination of a period table and a
projection scale containing mortality improvement factors.
(9) "Period Table" means a table of mortality
rates applicable to a given calendar year.
(10) "Projection Scale AA" means the table of
annual mortality improvement factors for projecting future mortality rates
beyond calendar year 1994, developed by the Society of Actuaries Group Annuity
Valuation Table Task Force, and published in the Transactions of the Society of
Actuaries, Vol. XLVII (1995), pages 824-826.
(11) "Projection Scale G2" means the table of
annuity mortality improvement factors for projecting future mortality rates
beyond calendar year 2012, developed by the Society of Actuaries Committee on
Life Insurance Research, and published in the 2012 Proceedings of the NAIC,
Fall Volume I, pages 151-152 .
Notes
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