Minnesota Administrative Rules

2752.0025 APPLICATION OF THE 2012 IAR TABLE.

In using the 2012 IAR Table, the mortality rate for a person age x in year (2012+n) is calculated as follows:

q_x²⁰¹²⁺ⁿ = q_x²⁰¹² (1 - G2_x)ⁿ

where the q_x²⁰¹² and G2_x are as specified in the 2012 IAM Period Table and Projection Scale G2, respectively.

The resulting q_x²⁰¹²⁺ⁿ shall be rounded to three decimal places per 1,000, e.g., 0.741 deaths per 1,000. Also, the rounding shall occur according to the method in the example below, starting at the 2012 IAM Period Table rate.

For example, for a male age 30, q₃₀²⁰¹² = 0.741.

q₃₀²⁰¹³ = 0.741 * (1 - 0.010) ^ 1 = 0.73359, which is rounded to 0.734.

q₃₀²⁰¹⁴ = 0.741 * (1 - 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.

A method leading to incorrect rounding would be to calculate q₃₀²⁰¹⁴ as q₃₀²⁰¹³ * (1 - 0.010), or 0.734 * 0.99 = 0.727.

It is incorrect to use the already rounded q₃₀²⁰¹³ to calculate q₃₀²⁰¹⁴.

Statutory Authority:

MS s 45.023; 61A.25

History:

39 SR 418

Published Electronically:

October 6, 2014