Sec.38a-78-23a. 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:

The resulting qx ²⁰¹²⁺ⁿ shall be rounded to three decimal places per 1,000, e.g., 0.741 deaths per 1,000. The rounding shall occur according to the formula above, starting at the 2012 period table rate.

For example, for a male age 30, qx²⁰¹²= 0.741.

qx ²⁰¹³= 0.741 * (1 – 0.010) ^ 1 = 0.73359, which is rounded to 0.734.

qx ²⁰¹⁴= 0.741 * (1 – 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.

A method leading to incorrect rounding would be to calculate qx ²⁰¹⁴ as qx ²⁰¹³ * (1 – 0.010), or 0.734 * 0.99 = 0.727.

It is incorrect to use the already rounded qx ²⁰¹³ to calculate qx ²⁰¹⁴.

(Effective January 24, 2014)