Private Pension Plan Mortality Study and Tables

September 19, 2022
Contact: Cindy MacDonald, Sr. Director, cmacdonald@soa.org, 847-706-3559

Background and Purpose

This research will provide detailed insights into the risk factors that drive private pension plan mortality experience. The private pension plan mortality experience collected for this research will be aggregated, de-identified, and made available for further analysis. In addition, mortality tables based on this private pension plan experience will be developed for use in the valuation and risk management of private pension plans.

Research Objective and Deliverables

We will collect 2015–2022 mortality experience data from approximately 100 corporate pension plans with approximately 70,000 deaths per calendar year. This data will form the basis of a robust, statistically credible, mortality experience dataset. Mortality rates, actual to expected ratios, and other metrics will be included in the aggregated, de-identified experience data and will be made available via data visualization dashboards. Results of the experience data will be analyzed and the insights will be presented in a detailed analysis report. The detailed report and dashboards will be available for purchase, with entities that contributed data to the study receiving a significant discount.

Private pension mortality tables will be developed along with a report that documents the table development process. The mortality table and report documenting its development will be made publicly available after they have been reviewed through a public exposure process.

Target Audience and Impact

Private pension plan system fiduciaries, administrators and consultants need the updated industry-wide mortality tables, data and insights to inform decision-making and consulting advice. The resulting mortality tables will be the most current tables available based explicitly on private pension plan mortality.

Estimated Cost

$400,000–500,000

Estimated Timeline

Detailed analysis report and visualizations of the results and aggregated data available for purchase in 2025. Public mortality tables release expected in 2026.

Similar Research Topics the Institute Has Published

Pri-2012 Private Retirement Plans Mortality Tables, released October 2019. Click here for research.

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Serving as the research arm of the Society of Actuaries (SOA), the SOA Research Institute provides objective, data-driven research bringing together tried and true practices and future-focused approaches to address societal challenges and business needs. The Institute provides trusted knowledge, extensive experience and new technologies to actuaries, employers, regulators, research funders and the public, to help them effectively identify, predict and manage risks.