The Society of Actuaries has released its latest U.S. mortality assumptions for pension plans, which were last updated in 2000.
The new tables show that the average 65-year-old U.S. male is expected to live to be 86.6, and the average 65-year-old female is expected to live to be 88.8 years of age.
That’s an increase of 2.0 years for men, and 2.4 for women. The SOA said that could translate to a 4 percent to 8 percent cost in private plan defined benefit liabilities, depending on the design and demographic profile of each plan. Previous mortality tables were published in 2000.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
