Experience Studies – Pension
The Society of Actuaries' Retirement Plans Experience Committee (RPEC) has released a report which introduces a new mortality improvement scale that may be used in pension valuations. This new improvement scale, Scale BB, has been developed as an interim table that may be used until the work on a new set of retirement plan mortality tables and mortality improvement rates, that would be the successors to the RP-2000 tables and Scale AA, is completed.
RPEC released an exposure draft of this report in March 2012 and solicited comments on it through the end of June 2012. A summary of those comments and RPEC’s response to them, as well as the original exposure draft, can be found under ‘Related Links.’
A companion document to the Scale BB Report, which contains additional background concerning the development and intended use of Scale BB, has been developed by RPEC. See “Mortality Improvement Scale BB Q&A” under ‘Related Links.’