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Final Regs Provide Rules for Valuing Partial Interests in Property

JUN. 10, 1994

T.D. 8540; 59 F.R. 30100-30179

DATED JUN. 10, 1994
DOCUMENT ATTRIBUTES
Citations: T.D. 8540; 59 F.R. 30100-30179

 

[4830-01-u]

 

DEPARTMENT OF THE TREASURY

 

Internal Revenue Service

 

26 CFR Parts 1, 20, 25 and 602

 

Treasury Decision 8540

 

RIN 1545-AM81

 

 

 AGENCY: Internal Revenue Service (IRS), Treasury.

 ACTION: Final regulations.

 SUMMARY: This document contains final regulations relating to the valuation of annuities, interests for life or terms of years, and remainder or reversionary interests. Changes to the applicable tax law were made by section 5031 of the Technical and Miscellaneous Revenue Act of 1988. These regulations will provide the public with the guidance needed to comply with the Act.

 DATES: These regulations are effective May 1, 1989. For dates of applicability of these regulations, see the Effective Dates portion under Supplementary Information.

 FOR FURTHER INFORMATION CONTACT: William L. Blodgett (202) 622-3090 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

PAPERWORK REDUCTION ACT

The collection of information contained in these final regulations has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3504(h)) under control number 1545-1343. The estimated annual burden per respondent varies from 30 minutes to one hour, depending on individual circumstances, with an estimated average of 45 minutes.

 Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be sent to the Internal Revenue Service, Attn: IRS Reports Clearance Officer, PC:FP, Washington, DC 20224, and to the Office of Management and Budget, Attn: Desk Officer for the Department of Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503.

BACKGROUND

 On November 2, 1992, the IRS published in the Federal Register proposed amendments to the income tax regulations (26 CFR part 1) under sections 170, 642, 664, and 7520 of the Internal Revenue Code (Code), and to the estate and gift tax regulations (26 CFR part 20 and part 25) under sections 2031, 2512, and 7520 of the Code. Conforming changes were proposed for regulations under other sections of the Code. On February 3, 1993, the IRS published in the Federal Register certain corrections to the proposed regulations. This project finalizes those amendments. Written comments responding to the Notice of Proposed Rulemaking were received. No public hearing was requested, and none was held. After consideration of all of the comments received regarding the proposed regulations, those amendments are adopted by this Treasury decision with revisions in response to those comments. A summary of the principal comments received and revisions made in the final regulations in response to those comments is provided below.

EXPLANATION OF PROVISIONS

 The notice of proposed rulemaking included estate tax regulations that described the implementation of the new valuation standard, including an explanation of the general effective date of May 1, 1989 (section 20.7520-1), an explanation of the special elections for charitable interests (section 20.7520-2), a listing of Code provisions that are not subject to section 7520 (section 20.7520-3), and a description of transitional rules for income, estate, and gift tax valuations (section 20.7520-4). In the final regulations, the substance of sections 20.7520-1 through 20.7520-4 has been incorporated into analogous provisions for the Income Tax Regulations (sections 1.7520-1 through 1.7520-4) and the Gift Tax Regulations (sections 25.7520-1 through 25.7520-4).

 In response to comments, several editorial changes were made to clarify certain of the formulas contained in the proposed regulations. These clarifications principally involve the insertion of additional parentheses or brackets in order to make the formulas easier for the reader to understand and apply.

 Also in response to comments, section 1.170A-12(b) was updated in a correction to the proposed regulations that was published in the Federal Register on February 3, 1993. The update includes a formula for the computation of the special factor to value a remainder interest following one life where the property is subject to exhaustion, wear and tear, or obsolescence. A similar formula in section 1.170A-12(e), which is applicable to the valuation of a remainder interest following two lives, was also updated. The change in formulas avoids the need to include lengthy commutation factor tables in the regulations.

 Clarifying amendments have been made in the final regulations concerning the meaning of "valuation date" for purposes of an election to value a transfer to a charitable remainder trust. In the case of an election under section 7520 to compute the present value of the charitable interest by use of the interest rate component for either of the 2 months preceding the month in which the transfer is made, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. Sections 1.664-2(c) and 1.664-4(e)(4) of the final regulations have been revised accordingly.

 Comments were received pertaining to the rule in the proposed regulations under section 7520 concerning the transfer of more than one partial interest in the same property at different times. In response to these comments, the regulations have been amended to make it clear that, generally, each separate transfer is valued with the interest rate applicable in the month of the transfer.

 The proposed regulations provide for making the election to use a prior month's interest rate in the case of a transfer to charity. Comments questioned the need for requiring the filing of detailed information as part of a prior-month election. This information is already required to be filed with the tax return for certain situations involving charitable interests that are subject to measuring lives. See, for example, section 20.2055-2(f)(5). This requirement is now explained in the regulations under section 7520. Comments also raised a question about the revocability of the election and the time for making the election. The final regulations provide that the taxpayer makes the prior-month election by so stating on the return and identifying the elected month. The failure to include with the return other information that is required to describe the transfer, whether or not the election is made, will ordinarily not invalidate the election. For elections made on or before June 10, 1994, a reasonable attempt to make the election and submit the required information will be treated as a valid election. The final regulations also provide that the election is generally made on a timely filed tax return for the year of the transfer. However, the election may also be made or changed on an amended or supplemented return that is made within 24 months after the original return is filed.

 Comments were received concerning whether the five percent de minimis test (i.e., a transfer to charity of at least five percent of the value of the interest) set forth in the proposed regulations should be applied in determining if the taxpayer may elect to use an alternative prior month interest rate. The final regulations delete this de minimis test.

 Comments were received concerning the application of these regulations in situations where an individual is expected to die prematurely or where two individuals die simultaneously. See, for example, Rev. Rul. 80-80, 1980-1 C.B. 194, which holds that, in cases where the individual's death is imminent, the standard actuarial tables prescribed by the regulations are not to be used. See, also, Carter v. United States, 291 F.2d 63 (5th Cir. 1991), where the court refused to ascribe value to an income interest for purposes of the section 2013 credit where the death of the transferee was simultaneous with the death of the transferor. Comments were also received concerning the scope of these regulations in light of O'Reilly v. Commissioner, 973 F.2d 1403 (8th. Cir. 1992), rem'd, T.C.M. 1994-61. In O'Reilly, the Circuit Court held that the standard actuarial tables were not applicable to a situation in which the application of those tables would have produced an unreasonable result. In that case, the property held in trust produced an extraordinarily low rate of return. A similar result was reached by the Tax Court in Froh v. Commissioner, 100 T.C. 1 (1993), dealing with depletable property. Consistent with these comments, the Service and Treasury are contemporaneously proposing an amendment to these regulations that defines the circumstances in which the section 7520 tables would not apply in valuing a transferred interest. That Notice of Proposed Rulemaking is published elsewhere in this issue of the Federal Register.

Notice 89-60, 1989-1 C.B. 700, announced a method for determining the deemed yearly rate of return for new pooled income funds. This method defined the deemed rate as the highest annual average section 7520 interest rate for the preceding three years, reduced by one percentage point. The proposed regulations would have defined the deemed rate as the highest annual average section 7520 interest rate for the preceding three years, multiplied by 90 percent. Both methods produced the same result for each of the years after the enactment of section 7520:

                               5/1/89

 

 First Year of                   to

 

 Pooled Income Fund:          12/31/89  1990  1991  1992  1993  1994

 

                              ________  ____  ____  ____  ____  ____

 

 

 Notice 89-60 method:            9.4     9.8   9.8   9.8   9.4   8.4

 

 Proposed regulation method:     9.4     9.8   9.8   9.8   9.4   8.4

 

 

 Commentators have indicated a strong preference for the method announced in Notice 89-60, because they view the computation as simpler than that set forth in the proposed regulations. In response to these comments, the final regulations adopt the method described in Notice 89-60 for determining the deemed yearly rate of return for new pooled income funds.

 Comments were received concerning whether, in valuing transfers to a new pooled income fund, the same deemed rate of return would be used throughout the entire three-year period. The final regulations provide that the deemed rate of return for transfers to a new pooled income fund is recomputed each calendar year using the monthly section 7520 rates for the three-year period immediately preceding the calendar year in which each transfer to the fund is made until the fund has been in existence for three taxable years and can compute its highest rate of return for the three taxable years immediately preceding the taxable year in which the transfer of property to the fund is made.

 A commentator suggested that, with respect to the interpolation method for valuing transfers to pooled income funds and charitable remainder unitrusts, a taxpayer be permitted to elect a more exact method of computing the appropriate interest rate. The method prescribed in the proposed regulations has been in use for many years and is prescribed by the Internal Revenue Service in Publication 1457, "Actuarial Values, Alpha Volume," (8-89) and Internal Revenue Service Publication 1458, "Actuarial Values, Beta Volume," (8-89). The IRS and Treasury believe that any change from the method prescribed in these publications, which are in current use, would create undue confusion for taxpayers. Consequently, the commentator's suggested change is not being adopted at this time.

 Comments were received inquiring about the application of section 7520 to the valuation of annuities issued by certain organizations other than insurance companies. In response to these comments, the final regulations explain that the section 7520 tables are to be used in valuing these annuities. This is an application of the principle adopted in Rev. Rul. 84-162, 1984-2 C.B. 200, for transfers after November 23, 1984. A different method of valuation continues to apply for purposes of computing the exclusion ratio in reporting the annuity payments under section 72. These clarifications have been made by updating section 1.101-2(e)(1)(iii)(b) and Example 8 of section 1.1011-2(c).

 Comments were received concerning the presumption in the proposed regulations under section 664 that, if a governing instrument for a charitable remainder unitrust does not prescribe when the distribution is made during the period, the distribution is presumed to be made on the first day of the period. Unitrusts have traditionally been regarded as providing for distributions at the beginning of each period unless the governing instrument provides to the contrary. This presumption has been reflected in unitrust factors prescribed in the regulations under section 664 since the enactment of that section. Therefore, the presumption that distributions are made on the first day of the period, if not otherwise provided for in the instrument, is continued in the final regulations.

EFFECTIVE DATES

 These regulations are generally effective in the case of annuities, interests for life or terms of years, and remainder or reversionary interests created after April 30, 1989. The regulations provide certain transitional rules intended to alleviate any adverse consequences resulting from the statutory amendments. Several principal provisions of the regulations were announced in Notice 89-24, 1989-1 C.B. 660 (which announced the change from the 10 percent fixed rate of interest to the section 7520 floating rate of interest), and Notice 89-60 (which announced the change in mortality tables) (See section 601.601(d)(2)(ii)(b) of the Statement of Procedural Rules). A transitional rule in the final regulations provides that, for valuation dates of transfers after April 30, 1989, and before June 10, 1994, a transferor can rely on Notice 89-24 or Notice 89-60 in valuing the transferred interest. For gift tax purposes, a transitional rule in the final regulations provides that if, after December 31, 1988, but before May 1, 1989, a donor transferred an interest in property, retaining an interest in the same property, and the donor later transferred the retained interest in the property after April 30, 1989, and before January 1, 1990, the donor may elect to value the transfer of the retained interest under either the 10 percent tables or the section 7520 tables (whichever is more beneficial). For estate tax purposes, a transitional rule in the final regulations provides that the estate of a mentally incompetent decedent may elect to value the property interest included in the gross estate under the mortality table and interest rate in effect at the time the decedent became mentally incompetent or the mortality table and interest rate in effect on the decedent's date of death if the decedent was under a mental incapacity that existed on May 1, 1989, and continued uninterrupted until the decedent's death. For purposes of determining the value of the remainder interest in a testamentary charitable remainder unitrust or annuity trust, a transitional rule in the final regulations provides that the mortality table and 10 percent interest rate in effect before May 1, 1989, or the mortality table and interest rate under section 7520 may be used if the decedent was mentally incompetent on May 1, 1989, and (1) such incompetency continued uninterrupted until death, or (2) the decedent died within 90 days of first regaining competency after April 30, 1989.

SPECIAL ANALYSES

 It has been determined that this Treasury decision is not a significant regulatory action as defined in EO 12866. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) and the Regulatory Flexibility Act (5 U.S.C. chapter 6) do not apply to these regulations, and, therefore, a Regulatory Flexibility Analysis is not required. Pursuant to section 7805(f) of the Internal Revenue Code, the notice of proposed rulemaking preceding these regulations was submitted to the Small Business Administration for comment on its impact on small business.

DRAFTING INFORMATION

 The principal author of these regulations is William L. Blodgett, Office of Chief Counsel (Passthroughs and Special Industries), IRS. However, other personnel from the IRS and Treasury Department participated in their development.

LIST OF SUBJECTS

26 CFR Part 1

 Income taxes, Reporting and recordkeeping requirements.

26 CFR Part 20

 Estate taxes, Reporting and recordkeeping requirements.

26 CFR Part 25

 Gift taxes, Reporting and recordkeeping requirements.

26 CFR Part 602

 Reporting and recordkeeping requirements.

ADOPTION OF AMENDMENTS TO THE REGULATIONS

Accordingly, 26 CFR parts 1, 20, 25, and 602 are amended as follows:

Paragraph 1. In the list below, for each section indicated in the left column, remove the language in the middle column and add the language in the right column:

 Section                Remove                     Add

 

 _______                ______                     ___

 

 1.52-1(f)             or 20.2031-10,           or, for certain

 

                         whichever is             prior periods,

 

                         appropriate,             20.2031-7A

 

 1.101-2(e)(2)         paragraph (f) of

 

 Example (1)(ii)

 

 1.170A-4(d)           Table B of               section 20.2031-7A(c)

 

 Example 9,            section 20.2031-

 

 third sentence        10(f)

 

 1.170A-5(b)           Table A(1) in            section 20.2031-7A(c)

 

 Example 5,            section 20.2031-10(f)

 

 fifth sentence

 

 1.170A-6(c)(3)(i)     or section 20.2031-10,   or, for certain

 

 whichever is             prior periods,

 

 appropriate,             20.2031-7A

 

 1.170A-6(c)(3)       Table B in                section 20.2031-7A(c)

 

 (iii) Example 1       section 20.2031-10(f)

 

 second sentence

 

 1.170A-6(c)(3)       Table B in                section 20.2031-7A(c)

 

 (iii) Example 2       section 20.2031-10(f)

 

 second sentence

 

 1.170A-6(c)(3)        section 20.2031-10(e)    section 20.2031-7A(c)

 

 (iii) Example 3

 

 third sentence

 

 1.170A-6(c)(3)        Table B in               section 20.2031-7A(c)

 

 (iii) Example 3       section 20.2031-10(f)

 

 fourth sentence

 

 1.170A-6(c)(4)        or section 20.2031-10,   ---------------------

 

 second sentence       whichever is

 

                        appropriate,

 

 1.170A-6(c)(5)        Table B in               section 20.2031-7A(c)

 

 Example 1             section 20.2031-10(f)

 

 sixth sentence

 

 1.170A-6(c)(5)        section 1.664-4(b)(5)    section 1.664-4A(c)

 

 Example 2(b)

 

 1.170A-6(c)(5)        section 20.2031-10(f)    section 20.2031-7A(c)

 

 Example 3(b)

 

 1.170A-7(c)           or section 20.2031-10,   ---------------------

 

 third sentence        whichever is

 

                        appropriate,

 

 1.170A-12(a)(3)       paragraph (d)            section 25.2512-5

 

 fourth sentence       of section 25.2512-5     (or, for certain

 

 or 25.2512-9             prior periods,

 

                       whichever is             section 25.2512-5A)

 

                       appropriate,

 

 1.170A-12(c)          paragraph (d) in         section 25.2512-5 (or,

 

 first and third       section 25.2512-5 or     for certain prior

 

 sentences             25.2512-9                periods, section

 

 25.2512-5A

 

 1.170A-12(c)          Table B of               section 25.2512-5A(c)

 

 Example, fourth       section 25.2512-9(f)

 

 sentence

 

 1.414(c)-2(b)         or section 20.2031-10    or, for certain

 

 (2)(ii)               (Estate Tax              prior periods,

 

 second sentence       Regulations),            section 20.2031-7A

 

                        whichever is             (Estate Tax

 

                        appropriate,             Regulations)

 

 1.414(c)-4(b)         or section 20.2031-10    or, for certain

 

 (3)(i)                (Estate Tax              prior periods,

 

 last sentence         Regulations),            section 20.2031-7A

 

 whichever is             (Estate Tax

 

 appropriate              Regulations)

 

 1.642(c)-6(d)(2)      paragraph (d)(2)         paragraph (d)(3)

 

 third and fifth

 

 sentences

 

 1.642(c)-6(d)(2)      paragraph (a)(2)         section 1.642(c)-6(b)

 

 fourth sentence       of this section

 

 1.642(c)-7(d)(2)      paragraph (b)(2)         ----------------------

 

 first and second      of

 

 sentences

 

 1.664-1(a)(6)         section 1.664-4(b)(2)    section 1.664-4A(c)

 

 Example (6)(ii)

 

 second sentence

 

 1.664-4(b)(2)         paragraph (a)(4) of      section 1.664-4(a)

 

 second sentence       this section

 

 1.664-4(b)(2)         paragraph (a)(3)         section 1.664-4(b)

 

 last sentence         of this section

 

 1.664-4(b)(3)         paragraph (b)(5)         paragraph (d)(6)

 

 first sentence

 

 1.664-4(b)(3)         paragraph (b)(3)         paragraph (d)(4)

 

 third and sixth

 

 sentences

 

 1.664-4(b)(3)         paragraph (a)(4) of      section 1.664-4(b)

 

 fifth sentence        this section

 

 1.1014-5(a)(3)        or section 20.2031-10,   or, for certain

 

 first sentence        whichever is             prior periods,

 

 applicable               section 20.2031-7A

 

 1.1014-5(c)           Table A(2) in            section 20.2031-7A(c)

 

 Example (1)           paragraph (f) of

 

 fourth sentence       section 20.2031-10

 

 1.1014-5(c)           Table A(2) in            section 20.2031-7A(c)

 

 Example (2)           paragraph (f) of

 

 second sentence       section 20.2031-10

 

 1.1014-5(c)           Table A(1) in            section 20.2031-7A(c)

 

 Example (3)           paragraph (f) of

 

 sixth sentence        section 20.2031-10

 

 1.1014-5(c)           Table A(1) in            section 20.2031-7A(c)

 

 Example (4)           paragraph (f) of

 

 third sentence        section 20.2031-10

 

 1.1014-5(c)           Table A(1) in            section 20.2031-7A(c)

 

 Example (5)(a)        paragraph (f) of

 

 fifth sentence        section 20.2031-10

 

 1.1014-5(c)           Table A(2) in            section 20.2031-7A(c)

 

 Example (6)           paragraph (f) of

 

 fourth sentence       section 20.2031-10

 

 20.2031-7(a)(2)       paragraph (f)            paragraph (d)(6)

 

 first and second

 

 sentences

 

 20.2031-7(a)(2)       paragraph (e)            paragraph (d)(5)

 

 20.2031-7(b)(1)       paragraph (b)(1)         paragraph (d)(2)(i)

 

 20.2031-7(b)(2)       paragraph (b)(2)         paragraph (d)(2)(ii)

 

 20.2031-7(b)(2)       paragraph (b)(1)         paragraph (d)(2)(i)

 

 (in the Example)

 

 20.2031-7(b)(3)(i)    paragraphs (b)(1)        paragraphs (d)(2)(i)

 

                            or (2)                   or (ii)

 

 20.2031-7(b)(3)(i)    paragraph (b)(3)         paragraph (d)(2)

 

                             (i)                      (iii)(A)

 

 20.2031-7(b)(3)(i)    paragraph (b)(2)         paragraph (d)(2)(ii)

 

 (in the Example)

 

 20.2031-7(b)(3)       paragraph (b)(3)         paragraph (d)(2)

 

 (ii)                  (ii)                     (iii)(B)

 

 20.2031-7(c)          paragraph (c)            paragraph (d)(3)

 

 20.2031-7(d)          paragraph (d)            paragraph (d)(4)

 

 20.2031-7(e)          paragraph (f)            paragraph (d)(6)

 

 20.2032-1(f)(1)       section 20.2031-7        section 20.2031-7A(d)

 

 fourth sentence

 

 20.2039-2(c)          through 20.2031-10       or, for certain

 

 (1)(viii)                                      prior periods,

 

                                                section 20.2031-7A

 

 20.2039-5(c)(1)       through 20.2031-10       or, for certain

 

                                                 prior periods,

 

                                                section 20.2031-7A

 

 20.2039-5(c)(2)       through 20.2031-10       or, for certain

 

 prior periods,

 

 section 20.2031-7A

 

 20.2055-2(f)          or 20.2031-10,          or, for certain

 

 (2)(iv)               whichever is             prior periods,

 

                       appropriate,             section 20.2031-7A

 

 20.2056(b)-4(d)       paragraph (e)            paragraph (b)

 

 fourth sentence

 

 25.2511-1(h)(6)      paragraph (e) of         section 25.2512-5

 

                      section 25.2512-5 or

 

                      paragraph (e) of

 

                      section 25.2512-9,

 

                      whichever is

 

                      applicable,

 

 25.2511-1(h)(7)       paragraph (e) of         section 25.2512-5

 

 section 25.2512-5 or

 

 paragraph (e) of

 

 section 25.2512-9,

 

 whichever is

 

 applicable,

 

 25.2512-5(a)(2)       paragraph (f)            paragraph (d)(6)

 

 first and second

 

 sentences

 

 25.2512-5(a)(2)       paragraph (e)            paragraph (d)(5)

 

 third sentence

 

 25.2512-5(b)(1)       paragraph (b)(1)         paragraph (d)(2)(i)

 

 third sentence

 

 25.2512-5(b)(2)       paragraph (b)(2)         paragraph (d)(2)(ii)

 

 last sentence

 

 25.2512-5(b)(2)       paragraph (b)(1)         paragraph (d)(2)(i)

 

 (in the Example)

 

 25.2512-5(b)(3)(i)    paragraphs (b)(1)        paragraph (d)(2)(i)

 

 or (2)                   or (ii)

 

 25.2512-5(b)(3)(i)    paragraphs (b)(3)        paragraph (d)(2)

 

 last sentence         (i)                      (iii)(A)

 

 25.2512-5(b)(3)       paragraph (b)(3)         paragraph (d)(2)

 

 (ii)                  (ii)                     (iii)(B)

 

 25.2512-5(c)          paragraph (c)            paragraph (d)(3)

 

 25.2512-5(d)          paragraph (d)            paragraph (d)(4)

 

 25.2518-3(a)(1)       section 20.2031-10       section 20.2031-7

 

 (iv)(A)

 

 25.2522(c)-3(d)       or 25.2512-9,            ---------------------

 

 (2)(iv)               whichever is

 

 first sentence        appropriate,

 

 25.2522(c)-3(d)       Table B in               section 25.2512-5A(c)

 

 (2)(iv) Example 1     section 25.2512-9(f)

 

 second sentence

 

 25.2522(c)-3(d)       Table B in               section 25.2512-5A(c)

 

 (2)(iv) Example 2     section 25.2512-9(f)

 

 second sentence

 

 25.2522(c)-3(d)       section 25.2512-9(e)     section 25.2512-5A(c)

 

 (2)(iv) Example 3

 

 third sentence

 

 25.2522(c)-3(d)       Table B in               section 25.2512-5A(c)

 

 (2)(iv) Example 3     section 25.2512-9(f)

 

 fourth sentence

 

 25.2523(a)-1(d)       or 25.2512-9,            or, for certain

 

 second sentence       whichever is             prior periods,

 

 appropriate.             section 25.2512-5A.

 

 25.2523(a)-1(d)       (d) of section           (d) of section

 

 third sentence        25.2512-5                25.2512-5.

 

 or 25.2512-9,

 

 whichever is

 

 appropriate.

 

 25.2523(a)-1(d)       (see section 25.2512-   ---------------------

 

 fourth sentence       5-(e) or 25.2512-9(e),

 

 whichever is

 

 appropriate)

 

 25.2523(a)-1(d)       (e) or 25.2512-9(e),     (d) or, for certain

 

 fifth sentence        whichever is             prior periods,

 

 appropriate.             section 25.2512-5A.

 

 25.2523(c)-1(c)       (70,000 X .708919,       as determined

 

 Example, tenth        as found in Table        under

 

 sentence              II of section            section 25.2512-5A(c)

 

 25.2512-5)

 

 

PART 1 -- INCOME TAXES

Par. 2. The authority citation for part 1 is amended by adding an entry in numerical order to read as follows:

Authority: 26 U.S.C. 7805 * * *

Section 1.170A-12 also issued under 26 U.S.C. 170(f)(4). * * *

Section 1.642(c)-6 also issued under 26 U.S.C. 642(c)(5).

Section 1.642(c)-6A also issued under 26 U.S.C. 642(c)(5).

Section 1.664-1 also issued under 26 U.S.C. 664(a).

Section 1.664-2 also issued under 26 U.S.C. 664(a).

Section 1.664-3 also issued under 26 U.S.C. 664(a).

Section 1.664-4 also issued under 26 U.S.C. 664(a).

Section 1.664-4A also issued under 26 U.S.C. 664(a). * * *

Section 1.7520-1 also issued under 26 U.S.C. 7520(c)(2).

Section 1.7520-2 also issued under 26 U.S.C. 7520(c)(2).

Section 1.7520-3 also issued under 26 U.S.C. 7520(c)(2).

Section 1.7520-4 also issued under 26 U.S.C. 7520(c)(2).

Par. 3. Section 1.101-2 is amended as follows:

1. Paragraphs (e)(1)(iii)(b)(1) and (2) are revised.

2. Paragraph (e)(1)(iii)(b)(3) is removed.

3. The revised provisions read as follows:

SECTION 1.101-2. EMPLOYEES' DEATH BENEFITS.

* * * * *

(e) * * *

(1) * * *

(iii) * * *

(b) * * *

(1) In the case of an annuity paid by an insurance company or by an organization (other than an insurance company) regularly engaged in issuing annuity contracts with an insurance company as the coinsurer or reinsurer of the obligations under the contract, by use of the discount interest rates and mortality tables used by the insurance company involved to determine the installment benefits; and

(2) In the case of an annuity issued after November 23, 1984, to which paragraph (e)(1)(iii)(b)(1) of this section is not applicable, by use of the appropriate tables in section 20.2031-7 of this chapter (Estate Tax Regulations).

* * * * *

Par. 4. Section 1.170A-12 is amended as follows:

1. In Paragraph (a)(3), a sentence is added between the fourth and fifth sentences.

2. Paragraphs (b), and (e)(1) and (2) are revised.

3. Paragraph (f) is removed.

4. The authority citation at the end of the section is removed.

5. The added and revised provisions read as follows:

SECTION 1.170A-12 VALUATION OF A REMAINDER INTEREST IN REAL PROPERTY FOR CONTRIBUTIONS MADE AFTER JULY 31, 1969.

(a) * * *

(3) * * * Except as provided in section 1.7520-3(b) of this chapter, for transfers of remainder interests after April 30, 1989, the present value of the remainder interest is determined under section 25.2512-5 of this chapter by use of the interest rate component on the date the interest is transferred unless an election is made under section 7520 and section 1.7520-2 of this chapter to compute the present value of the interest transferred by use of the interest rate component for either of the 2 months preceding the month in which the interest is transferred. * * *

(b) VALUATION OF A REMAINDER INTEREST FOLLOWING ONLY ONE LIFE -- (1) GENERAL RULE. The value of a remainder interest in real property following only one life is determined under the rules provided in section 20.2031-7 (or for certain prior periods, section 20.2031-7A) of this chapter (Estate Tax Regulations), using the interest rate and life contingencies prescribed for the date of the gift. See, however, section 1.7520-3(b)(relating to exceptions to the use of prescribed tables under certain circumstances). However, if any part of the real property is subject to exhaustion, wear and tear, or obsolescence, the special factor determined under paragraph (b)(2) of this section shall be used in valuing the remainder interest in that part. Further, if any part of the property is subject to depletion of its natural resources, such depletion is taken into account in determining the value of the remainder interest.

(2) COMPUTATION OF DEPRECIATION FACTOR. If the valuation of the remainder interest in depreciable property is dependent upon the continuation of one life, a special factor must be used. The factor determined under this paragraph (b)(2) is carried to the fifth decimal place. The special factor is to be computed on the basis of the interest rate and life contingencies prescribed in section 20.2031-7 (or for certain prior periods, section 20.2031-7A) of this chapter (Estate Tax Regulations) and on the assumption that the property depreciates on a straight-line basis over its estimated useful life. For transfers for which the valuation date is after April 30, 1989, special factors for determining the present value of a remainder interest following one life and an example describing the computation are contained in Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89). This publication is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 1459), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. See, however, section 1.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances). Otherwise, in the case of the valuation of a remainder interest following one life, the special factor may be obtained through use of the following formula:

[formula omitted]

(3) The following example illustrates the provisions of this paragraph (b):

EXAMPLE. In June 1992, A, who is 62, donates to Y University a remainder interest in a personal residence, consisting of a house and land, subject to a reserved life estate in A. At the time of the gift, the land has a value of $30,000 and the house has a value of $100,000 with an estimated useful life of 45 years, at the end of which the value of the house is expected to be $20,000. The portion of the property considered to be depreciable is $80,000 (the value of the house ($100,000) less its expected value at the end of 45 years ($20,000)). The portion of the property considered to be nondepreciable is $50,000 (the value of the land at the time of the gift ($30,000) plus the expected value of the house at the end of 45 years ($20,000)). The interest rate prescribed under section 7520 for June 1992 is 8.4 percent. Based on an interest rate of 8.4 percent, the remainder factor for $1.00 prescribed in section 20.2031-7 of this chapter for a person age 62 is 0.29567. The value of the nondepreciable remainder interest is $14,783.50 (0.29567 times $50,000). The value of the depreciable remainder interest is $17,387.20 (0.21734, computed under the formula described in paragraph (b)(2) of this section, times $80,000). Therefore, the value of the remainder interest is $32,170.70.

* * * * *

(e) * * *

(1)(i) If the valuation of the remainder interest in the real property is dependent upon the continuation or the termination of more than one life or upon a term certain concurrent with one or more lives, a special factor must be used.

(ii) The special factor is to be computed on the basis of --

(A) Interest at the rate prescribed under section 25.2512-5 (or, for certain prior periods, section 25.2512-5A) of this chapter, compounded annually;

(B) Life contingencies determined from the values that are set forth in the mortality table in section 20.2031-7 (or, for certain prior periods, section 20.2031-7A) of this chapter; and

(C) If depreciation is involved, the assumption that the property depreciates on a straight-line basis over its estimated useful life.

(iii) If any part of the property is subject to depletion of its natural resources, such depletion must be taken into account in determining the value of the remainder interest.

(2) In the case of the valuation of a remainder interest following two lives, the special factor may be obtained through use of the following formula:

[formula omitted]

Par. 5. Section 1.170A-13 is amended by removing the authority citation immediately following paragraph (d)(3).

Par. 6. Section 1.170A-14 is amended by:

1. Revising the third and fourth sentences of paragraph (h)(4), Example 2, as set forth below.

2. Removing the fifth sentence of paragraph (h)(4), Example 2.

SECTION 1.170A-14 QUALIFIED CONSERVATION CONTRIBUTIONS.

* * * * *

(h) * * *

(4) * * *

EXAMPLE 2. * * * Under section 1.170A-12(b), the value of a remainder interest in real property following one life is determined under section 25.2512-5 of this chapter (Gift Tax Regulations). (See section 25.2512-5A of this chapter with respect to the valuation of annuities, interests for life or term of years, and remainder or reversionary interests transferred before December 1, 1983).

* * * * *

Par. 7. Immediately following section 1.643(d)-2, an undesignated center heading and section 1.642(c)-6A are added to read as follows:

POOLED INCOME FUND ACTUARIAL TABLES APPLICABLE

BEFORE MAY 1, 1989

SECTION 1.642(c)-6A VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989.

(a) VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE JANUARY 1, 1952. There was no provision for the qualification of pooled income funds under section 642 until 1969. See section 20.2031-7A(a) of this chapter (Estate Tax Regulations) for the determination of the present value of a charitable remainder interest created before January 1, 1952.

(b) VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS AFTER DECEMBER 31, 1951, AND BEFORE JANUARY 1, 1971. No charitable deduction is allowable for a transfer to a pooled income fund for which the valuation date is after the effective dates of the Tax Reform Act of 1969 unless the pooled income fund meets the requirements of section 642(c)(5). See section 20.2031-7A(b) of this chapter (Estate Tax Regulations) for the determination of the present value of a charitable remainder interest for which the valuation date is after December 31, 1951, and before January 1, 1971.

(c) PRESENT VALUE OF REMAINDER INTEREST IN THE CASE OF TRANSFERS TO POOLED INCOME FUNDS FOR WHICH THE VALUATION DATE IS AFTER DECEMBER 31, 1970, AND BEFORE DECEMBER 1, 1983. For the determination of the present value of a remainder interest in property transferred to a pooled income fund for which the valuation date is after December 31, 1970, and before December 1, 1983, see section 20.2031-7A(c) of this chapter (Estate Tax Regulations) and former section 1.642(c)-6(e) (as contained in the 26 CFR Part 1 edition revised as of April 1, 1994).

(d) PRESENT VALUE OF REMAINDER INTEREST DEPENDENT ON THE TERMINATION OF ONE LIFE IN THE CASE OF TRANSFERS TO POOLED INCOME FUNDS MADE AFTER NOVEMBER 30, 1983, FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989 -- (1) IN GENERAL. For transfers to pooled income funds made after November 30, 1983, for which the valuation date is before May 1, 1989, the present value of the remainder interest at the time of the transfer of property to the fund is determined by computing the present value (at the time of the transfer) of the life income interest in the transferred property (as determined under paragraph (d)(2) of this section) and subtracting that value from the fair market value of the transferred property on the valuation date. The present value of a remainder interest that is dependent on the termination of the life of one individual is computed by use of Table G in paragraph (d)(4) of this section. For purposes of the computation under this section, the age of an individual is to be taken as the age of the individual at the individual's nearest birthday.

(2) PRESENT VALUE OF LIFE INCOME INTEREST. The present value of the life income interest in property transferred to a pooled income fund shall be computed on the basis of:

(i) Life contingencies determined from the values of 1x that are set forth in Table LN of section 20.2031-7A(d)(6) of this chapter (Estate Tax Regulations); and

(ii) Discount at a rate of interest, compounded annually, equal to the highest yearly rate of return of the pooled income fund for the 3 taxable years immediately preceding its taxable year in which the transfer of property to the fund is made. For purposes of this paragraph (d)(2), the yearly rate of return of a pooled income fund is determined as provided in section 1.642(c)-6(c) unless the highest yearly rate of return is deemed to be 9 percent. For purposes of this paragraph (d)(2), the first taxable year of a pooled income fund is considered a taxable year even though the taxable year consists of less than 12 months. However, appropriate adjustments must be made to annualize the rate of return earned by the fund for that period. Where it appears from the facts and circumstances that the highest yearly rate of return for the 3 taxable years immediately preceding the taxable year in which the transfer of property is made has been purposely manipulated to be substantially less than the rate of return that would otherwise be reasonably anticipated with the purpose of obtaining an excessive charitable deduction, that rate of return may not be used. In that case, the highest yearly rate of return of the fund is determined by treating the fund as a pooled income fund that has been in existence for less than 3 preceding taxable years. If a pooled income fund has been in existence less than 3 taxable years immediately preceding the taxable year in which the transfer of property to the fund is made, the highest yearly rate of return is deemed to be 9 percent.

Par. 8. Section 1.642(c)-6 is amended as follows:

1. The section heading is revised.

2. Paragraphs (a) and (b) are revised.

3. Paragraph (c)(1) is revised.

4. Paragraphs (d)(2) and (d)(3) are redesignated as section 1.642(c)-6A, paragraphs (d)(3) and (d)(4), respectively.

5. Paragraph (d)(1) is redesignated paragraph (d) and revised.

6. Paragraph (e) is revised.

7. The authority citation at the end of the section is removed.

8. Paragraph (f) is added.

9. The added and revised provisions read as follows:

SECTION 1.642(e)-6 VALUATION OF A REMAINDER INTEREST IN PROPERTY TRANSFERRED TO A POOLED INCOME FUND AFTER APRIL 30, 1989.

(a) IN GENERAL. (1) For purposes of sections 170, 2055, 2106, and 2522, the fair market value of a remainder interest in property transferred to a pooled income fund is its present value determined under paragraph (d) of this section.

(2) The present value of a remainder interest at the time of the transfer of property to the pooled income fund is determined by computing the present value (at the time of the transfer) of the life income interest and subtracting that value from the fair market value of the transferred property on the valuation date. The fact that the income beneficiary may not receive the last income payment, as provided in paragraph (b)(7) of section 1.642(c)-5, is not taken into account for purposes of determining the value of the life income interest. For purposes of this section, the valuation date is the date on which property is transferred to the fund by the donor except that, for purposes of section 2055 or 2106, it is the alternate valuation date, if elected, under the provisions and limitations set forth in section 2032 and the regulations thereunder.

(3) Any claim for a deduction on any return for the value of the remainder interest in property transferred to a pooled income fund must be supported by a statement attached to the return showing the computation of the present value of the interest.

(b) ACTUARIAL COMPUTATIONS BY THE INTERNAL REVENUE SERVICE. The regulations in this and in related sections provide tables of actuarial factors and examples that illustrate the use of the tables in determining the value of remainder interests in property. Section 1.7520-1(c)(2) refers to government publications that provide additional tables of factors and examples of computations for more complex situations. If the computation requires the use of a factor that is not provided in this section, the Commissioner may supply the factor upon a request for a ruling. A request for a ruling must be accompanied by a recitation of the facts including the pooled income fund's highest yearly rate of return for the 3 taxable years immediately preceding the date of transfer, the date of birth of each measuring life, and copies of the relevant documents. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see sections 601.201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee. If the Commissioner furnishes the factor, a copy of the letter supplying the factor should be attached to the tax return in which the deduction is claimed. If the commissioner does not furnish the factor, the taxpayer must furnish a factor computed in accordance with the principles set forth in this section.

(c) COMPUTATION OF POOLED INCOME FUND'S YEARLY RATE OF RETURN. (1) For purposes of determining the present value of the life income interest, the yearly rate of return earned by a pooled income fund for a taxable year is the percentage obtained by dividing the amount of income earned by the pooled income fund for the taxable year by an amount equal to --

(i) The average fair market value of the property in such fund for that taxable year; less

(ii) The corrective term adjustment.

* * * * *

(d) VALUATION. The present value of the remainder interest in property transferred to a pooled income fund after April 30, 1989, is determined under paragraph (e) of this section. The present value of the remainder interest in property transferred to a pooled income fund for which the valuation date is before May 1, 1989, is determined under the following sections:

   Valuation Dates

 

   _______________                              Applicable

 

 After       Before                             Regulations

 

 _____       ______                             ___________

 

 -           01-01-52                          1.642(c)-6A(a)

 

 12-31-51    01-01-71                          1.642(c)-6A(b)

 

 12-31-70    12-01-83                          1.642(c)-6A(c)

 

 11-30-83    05-01-89                          1.642(c)-6A(d)

 

 

(e) PRESENT VALUE OF THE REMAINDER INTEREST IN THE CASE OF TRANSFERS TO POOLED INCOME FUNDS FOR WHICH THE VALUATION DATE IS AFTER APRIL 30, 1989 -- (1) IN GENERAL. In the case of transfers to pooled income funds for which the valuation date is after April 30, 1989, the present value of a remainder interest is determined under this section. See, however, section 1.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances). The present value of a remainder interest that is dependent on the termination of the life of one individual is computed by the use of Table S in paragraph (e)(5) of this section. For purposes of the computations under this section, the age of an individual is the age at the individual's nearest birthday. If the valuation date of a transfer to a pooled income fund is after April 30, 1989, and before June 10, 1994, a transferor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700, in valuing the transferred interest. (See section 601.601(d)(2)(ii)(b) of this chapter.)

(2) PRESENT VALUE OF A REMAINDER INTEREST. The present value of a remainder interest in property transferred to a pooled income fund is computed on the basis of --

(i) Life contingencies determined from the values of 1x that are set forth in Table 80CNSMT in section 20.2031-7(d)(6) of this chapter (Estate Tax Regulations); and

(ii) Discount at a rate of interest, compounded annually, equal to the highest yearly rate of return of the pooled income fund for the 3 taxable years immediately preceding its taxable year in which the transfer of property to the fund is made. For purposes of this paragraph (e), the yearly rate of return of a pooled income fund is determined as provided in section 1.642(c)-6(c) unless the highest rate of return is deemed to be the rate described in paragraph (e)(3) of this section for funds in existence less than 3 taxable years. For purposes of this paragraph (e)(2)(ii), the first taxable year of a pooled income fund is considered a taxable year even though the taxable year consists of less than 12 months. However, appropriate adjustments must be made to annualize the rate of return earned by the fund for that period. Where it appears from the facts and circumstances that the highest yearly rate of return of the fund for the 3 taxable years immediately preceding the taxable year in which the transfer of property is made has been purposely manipulated to be substantially less than the rate of return that would otherwise be reasonably anticipated with the purpose of obtaining an excessive charitable deduction, that rate of return may not be used. In that case, the highest yearly rate of return of the fund is determined by treating the fund as a pooled income fund that has been in existence for less than 3 preceding taxable years.

(3) POOLED INCOME FUNDS IN EXISTENCE LESS THAN 3 TAXABLE YEARS. If a pooled income fund has been in existence less than 3 taxable years immediately preceding the taxable year in which the transfer is made to the fund and the transfer to the fund is made after April 30, 1989, the highest rate of return is deemed to be the interest rate (rounded to the nearest two-tenths of one percent) that is 1 percent less than the highest annual average of the monthly section 7520 rates for the 3 calendar years immediately preceding the calendar year in which the transfer to the pooled income fund is made. The deemed rate of return for transfers to new pooled income funds is recomputed each calendar year using the monthly section 7520 rates for the 3-year period immediately preceding the calendar year in which each transfer to the fund is made until the fund has been in existence for 3 taxable years and can compute its highest rate of return for the 3 taxable years immediately preceding the taxable year in which the transfer of property to the fund is made in accordance with the rules set forth in the first sentence of paragraph (e)(2)(ii) of this section.

(4) COMPUTATION OF VALUE OF REMAINDER INTEREST. The factor that is used in determining the present value of a remainder interest that is dependent on the termination of the life of one individual is the factor from Table S in paragraph (e)(5) of this section under the appropriate yearly rate of return opposite the number that corresponds to the age of the individual upon whose life the value of the remainder interest is based. The tables in paragraph (e)(5) of this section include factors for yearly rates of return from 4.2 to 14 percent. Many actuarial factors not contained in the tables in paragraph (e)(5) of this section are contained in Table S in Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8-89). A copy of this publication may be purchased from the Superintendent of Documents, United States Government Printing Office, Washington, Dc 20402. For other situations, see section 1.642(c)-6(b). If the yearly rate of return is a percentage that is between the yearly rates of return for which factors are provided, a linear interpolation must be made. The present value of the remainder interest is determined by multiplying the fair market value of the property on the valuation date by the appropriate remainder factor. This paragraph may be illustrated by the following example:

EXAMPLE. A, who will be 55 years old on May 8, 1990, transfers $100,000 to a pooled income fund on January 1, 1990, and retains a life income interest in the property. The highest yearly rate of return earned by the fund for its 3 preceding taxable years is 9.47 percent. In Table S, the remainder factor opposite 55 years under 9.4 percent is .18785 and under 9.6 percent is .18322. The present value of the remainder interest is $18,623.00, computed as follows:

 Factor at 9.4 percent for age 55             .18785

 

 Factor at 9.6 percent for age 55             .18322

 

                                               ______

 

 Difference                                   .00463

 

 Interpolation adjustment:

 

 (9.47% - 9.4%) / 0.2%  = x / .00463

 

 x = .00162

 

 Factor at 9.4 percent for age 55             .18785

 

 Less: Interpolation adjustment               .00162

 

                                               ______

 

 Interpolated factor                          .18623

 

 Present value of remainder interest:

 

 ($100,000 X .18623)                        $18,623.00

 

 

(5) ACTUARIAL TABLES. In the case of transfers for which the valuation date is after April 30, 1989, the present value of a remainder interest dependent on the termination of one life in the case of a transfer to a pooled income fund is determined by use of the following tables:

 TABLE S

 

 BASED ON LIFE TABLE 80CNSMT

 

 SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 INTEREST RATE

 

 AGE    4.2%      4.4%      4.6%      4.8%      5.0%

 

 0  .07389    .06749    .06188    .05695    .05261

 

 1  .06494    .05832    .05250    .04738    .04287

 

 2  .06678    .05999    .05401    .04874    .04410

 

 3  .06897    .06200    .05587    .05045    .04567

 

 4  .07139    .06425    .05796    .05239    .04746

 

 5  .07401    .06669    .06023    .05451    .04944

 

 6  .07677    .06928    .06265    .05677    .05156

 

 7  .07968    .07201    .06521    .05918    .05381

 

 8  .08274    .07489    .06792    .06172    .05621

 

 9  .08597    .07794    .07079    .06443    .05876

 

 10  .08936    .08115    .07383    .06730    .06147

 

 11  .09293    .08453    .07704    .07035    .06436

 

 12  .09666    .08807    .08040    .07354    .06739

 

 13  .10049    .09172    .08387    .07684    .07053

 

 14  .10437    .09541    .08738    .08017    .07370

 

 15  .10827    .09912    .09090    .08352    .07688

 

 16  .11220    .10285    .09445    .08689    .08008

 

 17  .11615    .10661    .09802    .09028    .08330

 

 18  .12017    .11043    .10165    .09373    .08656

 

 19  .12428    .11434    .10537    .09726    .08992

 

 20  .12850    .11836    .10919    .10089    .09337

 

 21  .13282    .12248    .11311    .10462    .09692

 

 22  .13728    .12673    .11717    .10848    .10059

 

 23  .14188    .13113    .12136    .11248    .10440

 

 24  .14667    .13572    .12575    .11667    .10839

 

 25  .15167    .14051    .13034    .12106    .11259

 

 26  .15690    .14554    .13517    .12569    .11703

 

 27  .16237    .15081    .14024    .13056    .12171

 

 28  .16808    .15632    .14555    .13567    .12662

 

 29  .17404    .16208    .15110    .14104    .13179

 

 30  .18025    .16808    .15692    .14665    .13721

 

 31  .18672    .17436    .16300    .15255    .14291

 

 32  .19344    .18090    .16935    .15870    .14888

 

 33  .20044    .18772    .17598    .16514    .15513

 

 34  .20770    .19480    .18287    .17185    .16165

 

 35  .21522    .20215    .19005    .17884    .16846

 

 36  .22299    .20974    .19747    .18609    .17552

 

 37  .23101    .21760    .20516    .19360    .18286

 

 38  .23928    .22572    .21311    .20139    .19048

 

 39  .24780    .23409    .22133    .20945    .19837

 

 40  .25658    .24273    .22982    .21778    .20654

 

 41  .26560    .25163    .23858    .22639    .21499

 

 42  .27486    .26076    .24758    .23525    .22370

 

 43  .28435    .27013    .25683    .24436    .23268

 

 44  .29407    .27975    .26633    .25373    .24191

 

 45  .30402    .28961    .27608    .26337    .25142

 

 46  .31420    .29970    .28608    .27326    .26120

 

 47  .32460    .31004    .29632    .28341    .27123

 

 48  .33521    .32058    .30679    .29379    .28151

 

 49  .34599    .33132    .31746    .30438    .29201

 

 50  .35695    .34224    .32833    .31518    .30273

 

 51  .36809    .35335    .33940    .32619    .31367

 

 52  .37944    .36468    .35070    .33744    .32486

 

 53  .39098    .37622    .36222    .34892    .33629

 

 54  .40269    .38794    .37393    .36062    .34795

 

 55  .41457    .39985    .38585    .37252    .35983

 

 56  .42662    .41194    .39796    .38464    .37193

 

 57  .43884    .42422    .41028    .39697    .38426

 

 58  .45123    .43668    .42279    .40951    .39682

 

 59  .46377    .44931    .43547    .42224    .40958

 

 60  .47643    .46206    .44830    .43513    .42250

 

 61  .48916    .47491    .46124    .44814    .43556

 

 62  .50196    .48783    .47427    .46124    .44874

 

 63  .51480    .50081    .48736    .47444    .46201

 

 64  .52770    .51386    .50054    .48773    .47540

 

 65  .54069    .52701    .51384    .50115    .48892

 

 66  .55378    .54029    .52727    .51472    .50262

 

 67  .56697    .55368    .54084    .52845    .51648

 

 68  .58026    .56717    .55453    .54231    .53049

 

 69  .59358    .58072    .56828    .55624    .54459

 

 70  .60689    .59427    .58205    .57021    .55874

 

 71  .62014    .60778    .59578    .58415    .57287

 

 72  .63334    .62123    .60948    .59808    .58700

 

 73  .64648    .63465    .62315    .61198    .60112

 

 74  .65961    .64806    .63682    .62590    .61527

 

 75  .67274    .66149    .65054    .63987    .62948

 

 76  .68589    .67495    .66429    .65390    .64377

 

 77  .69903    .68841    .67806    .66796    .65811

 

 78  .71209    .70182    .69179    .68199    .67242

 

 79  .72500    .71507    .70537    .69588    .68660

 

 80  .73768    .72809    .71872    .70955    .70058

 

 81  .75001    .74077    .73173    .72288    .71422

 

 82  .76195    .75306    .74435    .73582    .72746

 

 83  .77346    .76491    .75654    .74832    .74026

 

 84  .78456    .77636    .76831    .76041    .75265

 

 85  .79530    .78743    .77971    .77212    .76466

 

 86  .80560    .79806    .79065    .78337    .77621

 

 87  .81535    .80813    .80103    .79404    .78717

 

 88  .82462    .81771    .81090    .80420    .79760

 

 89  .83356    .82694    .82043    .81401    .80769

 

 90  .84225    .83593    .82971    .82357    .81753

 

 91  .85058    .84455    .83861    .83276    .82698

 

 92  .85838    .85263    .84696    .84137    .83585

 

 93  .86557    .86009    .85467    .84932    .84405

 

 94  .87212    .86687    .86169    .85657    .85152

 

 95  .87801    .87298    .86801    .86310    .85825

 

 96  .88322    .87838    .87360    .86888    .86420

 

 97  .88795    .88328    .87867    .87411    .86961

 

 98  .89220    .88769    .88323    .87883    .87447

 

 99  .89612    .89176    .88745    .88318    .87895

 

 100  .89977    .89555    .89136    .88722    .88313

 

 101  .90326    .89917    .89511    .89110    .88712

 

 102  .90690    .90294    .89901    .89513    .89128

 

 103  .91076    .90694    .90315    .89940    .89569

 

 104  .91504    .91138    .90775    .90415    .90058

 

 105  .92027    .91681    .91337    .90996    .90658

 

 106  .92763    .92445    .92130    .91816    .91506

 

 107  .93799    .93523    .93249    .92977    .92707

 

 108  .95429    .95223    .95018    .94814    .94611

 

 109  .97985    .97893    .97801    .97710    .97619

 

 (table continued)

 

 AGE    5.2%      5.4%      5.6%      5.8%      6.0%

 

 0  .04879    .04541    .04243    .03978    .03744

 

 1  .03889    .03537    .03226    .02950    .02705

 

 2  .03999    .03636    .03314    .03028    .02773

 

 3  .04143    .03768    .03435    .03139    .02875

 

 4  .04310    .03922    .03578    .03271    .02998

 

 5  .04494    .04094    .03738    .03421    .03137

 

 6  .04692    .04279    .03911    .03583    .03289

 

 7  .04903    .04477    .04097    .03757    .03453

 

 8  .05129    .04689    .04297    .03945    .03630

 

 9  .05370    .04917    .04511    .04148    .03821

 

 10  .05626    .05159    .04741    .04365    .04027

 

 11  .05900    .05419    .04988    .04599    .04250

 

 12  .06188    .05693    .05248    .04847    .04486

 

 13  .06487    .05977    .05518    .05104    .04731

 

 14  .06788    .06263    .05791    .05364    .04978

 

 15  .07090    .06551    .06064    .05623    .05225

 

 16  .07394    .06839    .06337    .05883    .05472

 

 17  .07699    .07129    .06612    .06144    .05719

 

 18  .08009    .07422    .06890    .06408    .05969

 

 19  .08327    .07724    .07177    .06679    .06226

 

 20  .08654    .08035    .07471    .06959    .06492

 

 21  .08991    .08355    .07775    .07247    .06765

 

 22  .09341    .08686    .08090    .07546    .07049

 

 23  .09703    .09032    .08418    .07858    .07345

 

 24  .10084    .09395    .08764    .08187    .07659

 

 25  .10486    .09778    .09130    .08536    .07991

 

 26  .10910    .10184    .09518    .08907    .08346

 

 27  .11359    .10614    .09930    .09302    .08724

 

 28  .11831    .11068    .10366    .09720    .09125

 

 29  .12329    .11547    .10827    .10163    .09551

 

 30  .12852    .12051    .11313    .10631    .10002

 

 31  .13403    .12584    .11827    .11127    .10480

 

 32  .13980    .13142    .12367    .11650    .10985

 

 33  .14587    .13730    .12936    .12201    .11519

 

 34  .15221    .14345    .13533    .12780    .12080

 

 35  .15883    .14989    .14159    .13388    .12670

 

 36  .16571    .15660    .14812    .14022    .13287

 

 37  .17288    .16358    .15492    .14685    .13933

 

 38  .18032    .17085    .16201    .15377    .14607

 

 39  .18804    .17840    .16939    .16097    .15310

 

 40  .19605    .18624    .17706    .16847    .16043

 

 41  .20434    .19436    .18502    .17627    .16806

 

 42  .21289    .20276    .19326    .18434    .17597

 

 43  .22172    .21143    .20177    .19270    .18416

 

 44  .23081    .22038    .21057    .20134    .19265

 

 45  .24019    .22962    .21966    .21028    .20144

 

 46  .24983    .23913    .22904    .21951    .21053

 

 47  .25975    .24892    .23870    .22904    .21991

 

 48  .26992    .25897    .24862    .23883    .22957

 

 49  .28032    .26926    .25879    .24888    .23949

 

 50  .29094    .27978    .26921    .25918    .24966

 

 51  .30180    .29055    .27987    .26973    .26010

 

 52  .31292    .30158    .29081    .28057    .27083

 

 53  .32429    .31288    .30203    .29170    .28186

 

 54  .33590    .32442    .31349    .30308    .29316

 

 55  .34774    .33621    .32522    .31474    .30473

 

 56  .35981    .34824    .33720    .32666    .31658

 

 57  .37213    .36053    .34945    .33885    .32872

 

 58  .38468    .37307    .36196    .35132    .34114

 

 59  .39745    .38584    .37471    .36405    .35383

 

 60  .41040    .39880    .38767    .37699    .36674

 

 61  .42350    .41192    .40080    .39012    .37985

 

 62  .43672    .42518    .41408    .40340    .39314

 

 63  .45006    .43856    .42749    .41684    .40658

 

 64  .46352    .45208    .44105    .43043    .42019

 

 65  .47713    .46577    .45480    .44422    .43401

 

 66  .49093    .47965    .46876    .45824    .44808

 

 67  .50491    .49373    .48293    .47248    .46238

 

 68  .51905    .50800    .49729    .48694    .47691

 

 69  .53330    .52238    .51179    .50154    .49160

 

 70  .54762    .53683    .52638    .51624    .50641

 

 71  .56193    .55131    .54100    .53099    .52126

 

 72  .57624    .56579    .55563    .54577    .53617

 

 73  .59056    .58029    .57030    .56059    .55113

 

 74  .60492    .59485    .58504    .57550    .56620

 

 75  .61936    .60950    .59990    .59053    .58140

 

 76  .63390    .62427    .61487    .60570    .59676

 

 77  .64849    .63910    .62993    .62097    .61223

 

 78  .66307    .65393    .64501    .63628    .62775

 

 79  .67754    .66867    .65999    .65151    .64321

 

 80  .69180    .68320    .67479    .66655    .65849

 

 81  .70573    .69741    .68926    .68128    .67345

 

 82  .71926    .71123    .70335    .69562    .68804

 

 83  .73236    .72460    .71699    .70952    .70219

 

 84  .74503    .73756    .73021    .72300    .71592

 

 85  .75733    .75014    .74306    .73611    .72928

 

 86  .76917    .76225    .75544    .74875    .74216

 

 87  .78041    .77375    .76720    .76076    .75442

 

 88  .79111    .78472    .77842    .77223    .76612

 

 89  .80147    .79533    .78929    .78334    .77747

 

 90  .81157    .80570    .79991    .79420    .78857

 

 91  .82129    .81567    .81013    .80466    .79927

 

 92  .83040    .82503    .81973    .81449    .80933

 

 93  .83884    .83370    .82862    .82360    .81865

 

 94  .84653    .84160    .83673    .83192    .82717

 

 95  .85345    .84872    .84404    .83941    .83484

 

 96  .85959    .85502    .85051    .84605    .84165

 

 97  .86515    .86074    .85639    .85208    .84782

 

 98  .87016    .86589    .86167    .85750    .85337

 

 99  .87478    .87064    .86656    .86251    .85850

 

 100  .87908    .87506    .87109    .86716    .86327

 

 101  .88318    .87929    .87543    .87161    .86783

 

 102  .88746    .88369    .87995    .87624    .87257

 

 103  .89200    .88835    .88474    .88116    .87760

 

 104  .89704    .89354    .89006    .88661    .88319

 

 105  .90322    .89989    .89659    .89331    .89006

 

 106  .91197    .90890    .90586    .90284    .89983

 

 107  .92438    .92170    .91905    .91641    .91378

 

 108  .94409    .94208    .94008    .93809    .93611

 

 109  .97529    .97438    .97348    .97259    .97170

 

 (table continued)

 

 AGE    6.2%      6.4%      6.6%      6.8%      7.0%

 

 0  .03535    .03349    .03183    .03035    .02902

 

 1  .02486    .02292    .02119    .01963    .01824

 

 2  .02547    .02345    .02164    .02002    .01857

 

 3  .02640    .02429    .02241    .02073    .01921

 

 4  .02753    .02535    .02339    .02163    .02005

 

 5  .02883    .02656    .02453    .02269    .02105

 

 6  .03026    .02790    .02578    .02387    .02215

 

 7  .03180    .02935    .02714    .02515    .02336

 

 8  .03347    .03092    .02863    .02656    .02469

 

 9  .03528    .03263    .03025    .02810    .02615

 

 10  .03723    .03449    .03201    .02977    .02774

 

 11  .03935    .03650    .03393    .03160    .02949

 

 12  .04160    .03865    .03598    .03356    .03136

 

 13  .04394    .04088    .03811    .03560    .03331

 

 14  .04629    .04312    .04025    .03764    .03527

 

 15  .04864    .04536    .04238    .03968    .03721

 

 16  .05099    .04759    .04451    .04170    .03913

 

 17  .05333    .04982    .04662    .04370    .04104

 

 18  .05570    .05207    .04875    .04573    .04296

 

 19  .05814    .05438    .05095    .04781    .04494

 

 20  .06065    .05677    .05321    .04996    .04698

 

 21  .06325    .05922    .05554    .05217    .04907

 

 22  .06594    .06178    .05797    .05447    .05126

 

 23  .06876    .06446    .06051    .05688    .05355

 

 24  .07174    .06729    .06321    .05945    .05599

 

 25  .07491    .07031    .06609    .06219    .05861

 

 26  .07830    .07355    .06918    .06515    .06142

 

 27  .08192    .07702    .07250    .06832    .06446

 

 28  .08577    .08071    .07603    .07171    .06772

 

 29  .08986    .08464    .07981    .07534    .07120

 

 30  .09420    .08882    .08383    .07921    .07492

 

 31  .09881    .09327    .08812    .08335    .07891

 

 32  .10369    .09797    .09267    .08774    .08315

 

 33  .10885    .10297    .09750    .09241    .08767

 

 34  .11430    .10824    .10261    .09736    .09246

 

 35  .12002    .11380    .10800    .10259    .09754

 

 36  .12602    .11963    .11366    .10809    .10288

 

 37  .13230    .12574    .11961    .11387    .10850

 

 38  .13887    .13214    .12584    .11994    .11441

 

 39  .14573    .13883    .13237    .12630    .12061

 

 40  .15290    .14583    .13920    .13297    .12712

 

 41  .16036    .15312    .14633    .13994    .13393

 

 42  .16810    .16071    .15375    .14720    .14103

 

 43  .17614    .16858    .16146    .15475    .14842

 

 44  .18447    .17675    .16948    .16261    .15613

 

 45  .19310    .18524    .17780    .17078    .16414

 

 46  .20204    .19402    .18644    .17926    .17247

 

 47  .21128    .20311    .19538    .18806    .18112

 

 48  .22080    .21249    .20462    .19716    .19007

 

 49  .23059    .22214    .21413    .20653    .19930

 

 50  .24063    .23206    .22391    .21617    .20881

 

 51  .25095    .24225    .23398    .22610    .21861

 

 52  .26157    .25275    .24436    .23636    .22874

 

 53  .27249    .26357    .25505    .24694    .23919

 

 54  .28369    .27466    .26604    .25782    .24995

 

 55  .29518    .28605    .27734    .26900    .26103

 

 56  .30695    .29774    .28893    .28050    .27242

 

 57  .31902    .30973    .30084    .29232    .28415

 

 58  .33138    .32203    .31306    .30446    .29621

 

 59  .34402    .33461    .32558    .31691    .30859

 

 60  .35690    .34745    .33836    .32963    .32124

 

 61  .36999    .36050    .35137    .34259    .33414

 

 62  .38325    .37374    .36458    .35576    .34726

 

 63  .39669    .38717    .37799    .36913    .36060

 

 64  .41031    .40078    .39159    .38272    .37415

 

 65  .42416    .41464    .40545    .39656    .38798

 

 66  .43825    .42876    .41958    .41070    .40211

 

 67  .45260    .44315    .43399    .42513    .41655

 

 68  .46720    .45779    .44868    .43985    .43129

 

 69  .48197    .47263    .46357    .45478    .44625

 

 70  .49686    .48760    .47861    .46988    .46140

 

 71  .51182    .50265    .49374    .48508    .47666

 

 72  .52685    .51778    .50896    .50038    .49203

 

 73  .54194    .53298    .52426    .51578    .50751

 

 74  .55714    .54832    .53972    .53134    .52317

 

 75  .57250    .56382    .55536    .54710    .53904

 

 76  .58803    .57951    .57120    .56308    .55515

 

 77  .60369    .59535    .58720    .57923    .57144

 

 78  .61942    .61126    .60329    .59549    .58787

 

 79  .63508    .62713    .61935    .61174    .60428

 

 80  .65059    .64285    .63527    .62785    .62058

 

 81  .66579    .65827    .65090    .64368    .63659

 

 82  .68061    .67332    .66616    .65914    .65226

 

 83  .69499    .68793    .68099    .67418    .66749

 

 84  .70896    .70213    .69541    .68881    .68233

 

 85  .72256    .71596    .70947    .70308    .69681

 

 86  .73569    .72931    .72305    .71688    .71081

 

 87  .74818    .74204    .73599    .73003    .72417

 

 88  .76011    .75419    .74836    .74261    .73695

 

 89  .77169    .76599    .76037    .75484    .74938

 

 90  .78302    .77755    .77215    .76683    .76158

 

 91  .79395    .78870    .78352    .77842    .77337

 

 92  .80423    .79920    .79423    .78933    .78449

 

 93  .81377    .80894    .80417    .79946    .79481

 

 94  .82247    .81784    .81325    .80873    .80425

 

 95  .83033    .82586    .82145    .81709    .81278

 

 96  .83729    .83298    .82872    .82451    .82034

 

 97  .84361    .83944    .83532    .83124    .82721

 

 98  .84929    .84525    .84126    .83730    .83339

 

 99  .85454    .85062    .84674    .84290    .83910

 

 100  .85942    .85561    .85184     .84810    .84440

 

 101  .86408    .86037    .85670     .85306    .84946

 

 102  .86894    .86534    .86177     .85823    .85473

 

 103  .87408    .87060    .86714     .86371    .86032

 

 104  .87980    .87644    .87311     .86980    .86653

 

 105  .88684    .88363    .88046     .87731    .87418

 

 106  .89685    .89389    .89095     .88804    .88514

 

 107  .91117    .90858    .90600     .90344    .90089

 

 108  .93414    .93217    .93022     .92828    .92634

 

 109  .97081    .96992    .96904     .96816    .96729

 

 (table continued)

 

 AGE    7.2%      7.4%      7.6%      7.8%      8.0%

 

 0  .02783    .02676    .02579    .02492    .02413

 

 1  .01699    .01587    .01486    .01395    .01312

 

 2  .01727    .01609    .01504    .01408    .01321

 

 3  .01785    .01662    .01552    .01451    .01361

 

 4  .01863    .01735    .01619    .01514    .01418

 

 5  .01956    .01822    .01700    .01590    .01490

 

 6  .02060    .01919    .01792    .01677    .01572

 

 7  .02174    .02027    .01894    .01773    .01664

 

 8  .02300    .02146    .02007    .01881    .01766

 

 9  .02438    .02278    .02133    .02000    .01880

 

 10  .02590    .02423    .02271    .02133    .02006

 

 11  .02757    .02583    .02424    .02279    .02147

 

 12  .02936    .02755    .02589    .02438    .02299

 

 13  .03123    .02934    .02761    .02603    .02458

 

 14  .03311    .03113    .02933    .02768    .02617

 

 15  .03496    .03290    .03103    .02930    .02773

 

 16  .03679    .03466    .03270    .03090    .02926

 

 17  .03861    .03638    .03434    .03247    .03075

 

 18  .04044    .03812    .03599    .03404    .03225

 

 19  .04231    .03990    .03769    .03565    .03378

 

 20  .04424    .04173    .03943    .03731    .03535

 

 21  .04623    .04362    .04122    .03901    .03697

 

 22  .04831    .04559    .04309    .04078    .03865

 

 23  .05048    .04766    .04505    .04265    .04042

 

 24  .05281    .04987    .04715    .04465    .04233

 

 25  .05530    .05224    .04941    .04680    .04438

 

 26  .05799    .05481    .05187    .04915    .04662

 

 27  .06090    .05759    .05454    .05170    .04906

 

 28  .06402    .06059    .05740    .05445    .05170

 

 29  .06736    .06380    .06049    .05742    .05456

 

 30  .07095    .06725    .06381    .06061    .05763

 

 31  .07479    .07095    .06738    .06405    .06095

 

 32  .07888    .07491    .07120    .06774    .06451

 

 33  .08325    .07913    .07529    .07170    .06834

 

 34  .08790    .08363    .07964    .07592    .07243

 

 35  .09282    .08841    .08428    .08041    .07679

 

 36  .09800    .09344    .08917    .08516    .08140

 

 37  .10347    .09876    .09433    .09018    .08628

 

 38  .10922    .10436    .09978    .09549    .09145

 

 39  .11527    .11025    .10553    .10109    .09690

 

 40  .12162    .11644    .11157    .10698    .10266

 

 41  .12827    .12294    .11792    .11318    .10871

 

 42  .13522    .12973    .12456    .11967    .11505

 

 43  .14245    .13682    .13149    .12645    .12169

 

 44  .15000    .14421    .13873    .13355    .12864

 

 45  .15787    .15192    .14630    .14096    .13591

 

 46  .16604    .15995    .15418    .14870    .14350

 

 47  .17454    .16830    .16238    .15676    .15141

 

 48  .18335    .17696    .17090    .16513    .15964

 

 49  .19244    .18591    .17970    .17379    .16816

 

 50  .20180    .19514    .18879    .18274    .17697

 

 51  .21147    .20466    .19818    .19199    .18609

 

 52  .22147    .21453    .20791    .20159    .19556

 

 53  .23180    .22474    .21799    .21154    .20537

 

 54  .24244    .23526    .22839    .22181    .21552

 

 55  .25341    .24611    .23912    .23243    .22601

 

 56  .26469    .25728    .25019    .24338    .23685

 

 57  .27632    .26881    .26161    .25469    .24805

 

 58  .28829    .28069    .27339    .26637    .25962

 

 59  .30059    .29290    .28550    .27839    .27155

 

 60  .31317    .30540    .29792    .29073    .28379

 

 61  .32601    .31817    .31062    .30334    .29633

 

 62  .33907    .33117    .32356    .31621    .30912

 

 63  .35236    .34441    .33674    .32933    .32217

 

 64  .36588    .35789    .35016    .34270    .33548

 

 65  .37968    .37166    .36390    .35639    .34912

 

 66  .39380    .38576    .37797    .37043    .36312

 

 67  .40824    .40019    .39238    .38482    .37749

 

 68  .42299    .41494    .40713    .39956    .39221

 

 69  .43798    .42995    .42215    .41458    .40722

 

 70  .45316    .44516    .43738    .42983    .42248

 

 71  .46847    .46051    .45276    .44523    .43790

 

 72  .48390    .47599    .46829    .46079    .45349

 

 73  .49946    .49161    .48397    .47652    .46926

 

 74  .51520    .50744    .49986    .49247    .48527

 

 75  .53118    .52351    .51601    .50870    .50156

 

 76  .54740    .53984    .53245    .52522    .51817

 

 77  .56383    .55639    .54912    .54200    .53504

 

 78  .58040    .57310    .56596    .55896    .55212

 

 79  .59698    .58983    .58283    .57597    .56925

 

 80  .61345    .60646    .59961    .59290    .58632

 

 81  .62965    .62283    .61615    .60959    .60316

 

 82  .64550    .63886    .63235    .62595    .61968

 

 83  .66092    .65447    .64813    .64191    .63579

 

 84  .67595    .66969    .66353    .65748    .65153

 

 85  .69063    .68456    .67859    .67271    .66693

 

 86  .70484    .69896    .69318    .68748    .68188

 

 87  .71839    .71271    .70711    .70159    .69616

 

 88  .73137    .72588    .72046    .71512    .70986

 

 89  .74400    .73870    .73347    .72831    .72323

 

 90  .75640    .75129    .74625    .74128    .73638

 

 91  .76840    .76349    .75864    .75385    .74913

 

 92  .77971    .77499    .77033    .76572    .76118

 

 93  .79022    .78568    .78120    .77677    .77239

 

 94  .79983    .79547    .79115    .78688    .78266

 

 95  .80852    .80431    .80014    .79602    .79195

 

 96  .81622    .81215    .80812    .80414    .80019

 

 97  .82322    .81927    .81537    .81151    .80769

 

 98  .82952    .82569    .82190    .81815    .81443

 

 99  .83534    .83161    .82792    .82427    .82066

 

 100  .84074    .83711    .83352    .82997    .82644

 

 101  .84589    .84236    .83886    .83539    .83196

 

 102  .85126    .84782    .84442    .84104    .83770

 

 103  .85695    .85362    .85031    .84703    .84378

 

 104  .86328    .86005    .85686    .85369    .85054

 

 105  .87108    .86800    .86494    .86191    .85890

 

 106  .88226    .87940    .87656    .87374    .87094

 

 107  .89836    .89584    .89334    .89085    .88838

 

 108  .92442    .92250    .92060    .91870    .91681

 

 109  .96642    .96555    .96468    .96382    .96296

 

 (table continued)

 

 AGE    8.2%      8.4%      8.6%      8.8%      9.0%

 

 0  .02341    .02276    .02217    .02163    .02114

 

 1  .01237    .01170    .01108    .01052    .01000

 

 2  .01243    .01172    .01107    .01048    .00994

 

 3  .01278    .01203    .01135    .01073    .01016

 

 4  .01332    .01253    .01182    .01116    .01056

 

 5  .01400    .01317    .01241    .01172    .01109

 

 6  .01477    .01390    .01310    .01238    .01171

 

 7  .01563    .01472    .01389    .01312    .01242

 

 8  .01660    .01564    .01477    .01396    .01322

 

 9  .01770    .01669    .01577    .01492    .01414

 

 10  .01891    .01785    .01688    .01599    .01517

 

 11  .02026    .01915    .01814    .01720    .01634

 

 12  .02173    .02056    .01950    .01852    .01761

 

 13  .02326    .02204    .02092    .01989    .01895

 

 14  .02478    .02351    .02234    .02126    .02027

 

 15  .02628    .02495    .02372    .02259    .02155

 

 16  .02774    .02635    .02507    .02388    .02279

 

 17  .02917    .02772    .02637    .02513    .02399

 

 18  .03059    .02907    .02767    .02637    .02517

 

 19  .03205    .03046    .02899    .02763    .02637

 

 20  .03355    .03188    .03035    .02892    .02760

 

 21  .03509    .03334    .03173    .03024    .02886

 

 22  .03669    .03487    .03318    .03162    .03017

 

 23  .03837    .03646    .03470    .03306    .03154

 

 24  .04018    .03819    .03634    .03463    .03303

 

 25  .04214    .04006    .03812    .03633    .03465

 

 26  .04428    .04210    .04008    .03820    .03644

 

 27  .04662    .04434    .04223    .04025    .03841

 

 28  .04915    .04677    .04456    .04249    .04056

 

 29  .05189    .04941    .04709    .04493    .04291

 

 30  .05485    .05226    .04984    .04757    .04546

 

 31  .05805    .05535    .05282    .05045    .04824

 

 32  .06149    .05867    .05603    .05356    .05124

 

 33  .06520    .06226    .05950    .05692    .05449

 

 34  .06916    .06609    .06322    .06052    .05799

 

 35  .07339    .07020    .06720    .06439    .06174

 

 36  .07787    .07455    .07143    .06850    .06573

 

 37  .08262    .07917    .07593    .07287    .06999

 

 38  .08765    .08407    .08069    .07751    .07451

 

 39  .09296    .08925    .08574    .08243    .07931

 

 40  .09858    .09472    .09109    .08765    .08440

 

 41  .10449    .10050    .09673    .09316    .08978

 

 42  .11069    .10656    .10265    .09895    .09544

 

 43  .11718    .11291    .10887    .10503    .10140

 

 44  .12399    .11958    .11540    .11143    .10766

 

 45  .13111    .12656    .12224    .11814    .11423

 

 46  .13856    .13387    .12941    .12516    .12113

 

 47  .14633    .14150    .13690    .13252    .12835

 

 48  .15442    .14945    .14471    .14020    .13589

 

 49  .16280    .15769    .15281    .14816    .14373

 

 50  .17147    .16622    .16121    .15643    .15186

 

 51  .18045    .17507    .16993    .16501    .16030

 

 52  .18979    .18427    .17899    .17394    .16911

 

 53  .19947    .19383    .18842    .18324    .17828

 

 54  .20950    .20372    .19819    .19288    .18779

 

 55  .21986    .21397    .20831    .20288    .19767

 

 56  .23058    .22457    .21879    .21324    .20791

 

 57  .24167    .23554    .22965    .22399    .21854

 

 58  .25314    .24690    .24090    .23512    .22956

 

 59  .26497    .25863    .25252    .24664    .24097

 

 60  .27712    .27068    .26448    .25849    .25272

 

 61  .28956    .28304    .27674    .27067    .26480

 

 62  .30228    .29567    .28929    .28312    .27717

 

 63  .31525    .30857    .30211    .29586    .28982

 

 64  .32851    .32176    .31522    .30890    .30278

 

 65  .34209    .33528    .32868    .32229    .31610

 

 66  .35604    .34918    .34253    .33609    .32983

 

 67  .37037    .36347    .35678    .35028    .34398

 

 68  .38508    .37815    .37142    .36489    .35854

 

 69  .40008    .39313    .38638    .37982    .37344

 

 70  .41533    .40838    .40162    .39504    .38864

 

 71  .43076    .42382    .41705    .41047    .40405

 

 72  .44638    .43945    .43269    .42611    .41969

 

 73  .46218    .45527    .44854    .44197    .43556

 

 74  .47823    .47137    .46466    .45812    .45173

 

 75  .49459    .48777    .48112    .47462    .46826

 

 76  .51127    .50452    .49793    .49148    .48517

 

 77  .52823    .52157    .51505    .50867    .50243

 

 78  .54541    .53885    .53242    .52613    .51996

 

 79  .56267    .55621    .54989    .54369    .53762

 

 80  .57987    .57354    .56733    .56125    .55527

 

 81  .59685    .59065    .58457    .57860    .57274

 

 82  .61351    .60746    .60151    .59567    .58993

 

 83  .62978    .62387    .61806    .61236    .60675

 

 84  .64567    .63992    .63426    .62869    .62321

 

 85  .66125    .65565    .65014    .64472    .63938

 

 86  .67636    .67092    .66557    .66030    .65511

 

 87  .69081    .68554    .68034    .67522    .67018

 

 88  .70468    .69957    .69453    .68956    .68466

 

 89  .71821    .71326    .70838    .70357    .69882

 

 90  .73153    .72676    .72204    .71739    .71280

 

 91  .74447    .73986    .73532    .73083    .72640

 

 92  .75669    .75225    .74787    .74354    .73927

 

 93  .76807    .76379    .75957    .75540    .75127

 

 94  .77849    .77437    .77030    .76627    .76229

 

 95  .78792    .78394    .78001    .77611    .77226

 

 96  .79630    .79244    .78863    .78485    .78112

 

 97  .80391    .80016    .79646    .79280    .78917

 

 98  .81076    .80712    .80352    .79996    .79643

 

 99  .81709    .81354    .81004    .80657    .80313

 

 100  .82296    .81950    .81609    .81270    .80934

 

 101  .82855    .82518    .82185    .81854    .81526

 

 102  .83438    .83110    .82785    .82462    .82142

 

 103  .84056    .83737    .83420    .83106    .82795

 

 104  .84743    .84433    .84127    .83822    .83521

 

 105  .85591    .85295     .85001   .84709    .84419

 

 106  .86816    .86540     .86266   .85993    .85723

 

 107  .88592    .88348     .88105   .87863    .87623

 

 108  .91493    .91306     .91119   .90934    .90749

 

 109  .96211    .96125     .96041   .95956    .95872

 

 (table continued)

 

 AGE    9.2%      9.4%      9.6%      9.8%    10.0%

 

 0  .02069    .02027    .01989    .01954    .01922

 

 1  .00953    .00910    .00871    .00834    .00801

 

 2  .00944    .00899    .00857    .00819    .00784

 

 3  .00964    .00916    .00872    .00832    .00795

 

 4  .01001    .00951    .00904    .00862    .00822

 

 5  .01051    .00998    .00949    .00904    .00862

 

 6  .01110    .01054    .01002    .00954    .00910

 

 7  .01178    .01118    .01064    .01013    .00966

 

 8  .01254    .01192    .01134    .01081    .01031

 

 9  .01342    .01276    .01216    .01159    .01107

 

 10  .01442    .01372    .01308    .01249    .01194

 

 11  .01555    .01481    .01414    .01351    .01293

 

 12  .01678    .01601    .01529    .01463    .01402

 

 13  .01807    .01726    .01651    .01582    .01517

 

 14  .01935    .01850    .01771    .01698    .01630

 

 15  .02058    .01969    .01886    .01810    .01738

 

 16  .02178    .02084    .01997    .01917    .01842

 

 17  .02293    .02194    .02103    .02018    .01940

 

 18  .02406    .02302    .02207    .02118    .02035

 

 19  .02521    .02412    .02312    .02218    .02131

 

 20  .02638    .02524    .02419    .02320    .02229

 

 21  .02758    .02638    .02527    .02424    .02328

 

 22  .02882    .02757    .02640    .02532    .02430

 

 23  .03013    .02881    .02759    .02644    .02538

 

 24  .03155    .03016    .02888    .02767    .02655

 

 25  .03309    .03164    .03029    .02902    .02784

 

 26  .03481    .03328    .03186    .03052    .02928

 

 27  .03670    .03509    .03360    .03219    .03088

 

 28  .03876    .03708    .03550    .03403    .03264

 

 29  .04102    .03925    .03760    .03604    .03458

 

 30  .04348    .04162    .03988    .03825    .03671

 

 31  .04616    .04421    .04238    .04067    .03905

 

 32  .04906    .04702    .04510    .04329    .04160

 

 33  .05221    .05007    .04806    .04616    .04438

 

 34  .05560    .05336    .05125    .04926    .04738

 

 35  .05925    .05690    .05469    .05260    .05063

 

 36  .06313    .06068    .05836    .05617    .05411

 

 37  .06727    .06470    .06228    .05999    .05783

 

 38  .07167    .06899    .06646    .06407    .06180

 

 39  .07635    .07356    .07092    .06841    .06604

 

 40  .08132    .07841    .07565    .07303    .07055

 

 41  .08658    .08355    .08067    .07794    .07535

 

 42  .09212    .08896    .08596    .08312    .08041

 

 43  .09794    .09466    .09154    .08858    .08576

 

 44  .10407    .10067    .09743    .09434    .09141

 

 45  .11052    .10699    .10362    .10042    .09736

 

 46  .11728    .11362    .11013    .10680    .10363

 

 47  .12438    .12059    .11697    .11352    .11022

 

 48  .13179    .12787    .12412    .12055    .11713

 

 49  .13949    .13544    .13157    .12787    .12433

 

 50  .14749    .14331    .13931    .13548    .13182

 

 51  .15580    .15150    .14737    .14342    .13963

 

 52  .16448    .16004    .15579    .15172    .14780

 

 53  .17352    .16896    .16458    .16038    .15635

 

 54  .18291    .17822    .17372    .16940    .16524

 

 55  .19266    .18785    .18322    .17878    .17450

 

 56  .20278    .19785    .19310    .18854    .18414

 

 57  .21329    .20824    .20338    .19870    .19419

 

 58  .22420    .21904    .21407    .20927    .20464

 

 59  .23550    .23023    .22515    .22024    .21551

 

 60  .24716    .24178    .23659    .23158    .22674

 

 61  .25913    .25366    .24837    .24325    .23831

 

 62  .27141    .26584    .26045    .25524    .25020

 

 63  .28397    .27832    .27284    .26754    .26240

 

 64  .29685    .29111    .28555    .28016    .27493

 

 65  .31010    .30429    .29865    .29317    .28787

 

 66  .32377    .31788    .31217    .30663    .30124

 

 67  .33786    .33191    .32614    .32053    .31508

 

 68  .35237    .34638    .34055    .33488    .32937

 

 69  .36724    .36120    .35533    .34961    .34405

 

 70  .38241    .37634    .37043    .36468    .35907

 

 71  .39780    .39171    .38578    .38000    .37436

 

 72  .41344    .40733    .40138    .39558    .38991

 

 73  .42931    .42321    .41725    .41143    .40575

 

 74  .44549    .43940    .43345    .42763    .42195

 

 75  .46205    .45598    .45004    .44424    .43856

 

 76  .47900    .47297    .46706    .46129    .45563

 

 77  .49632    .49033    .48447    .47873    .47311

 

 78  .51392    .50800    .50220    .49652    .49094

 

 79  .53166    .52582    .52009    .51448    .50897

 

 80  .54941    .54366    .53802    .53248    .52705

 

 81  .56699    .56134    .55579    .55035    .54499

 

 82  .58429    .57875    .57331    .56796    .56270

 

 83  .60123    .59581    .59047    .58523    .58007

 

 84  .61783    .61253    .60731    .60218    .59713

 

 85  .63413    .62896    .62387    .61886    .61392

 

 86  .65000    .64496    .64000    .63511    .63030

 

 87  .66520    .66031    .65548    .65071    .64602

 

 88  .67983    .67507    .67037    .66574    .66117

 

 89  .69414    .68952    .68495    .68045    .67601

 

 90  .70827    .70379    .69938    .69502    .69071

 

 91  .72202    .71770    .71343    .70921    .70504

 

 92  .73504    .73087    .72674    .72267    .71864

 

 93  .74719    .74317    .73918    .73524    .73135

 

 94  .75835    .75446    .75061    .74680    .74303

 

 95  .76845    .76468    .76096    .75727    .75362

 

 96  .77742    .77377    .77015    .76657    .76303

 

 97  .78559    .78203    .77852    .77504    .77160

 

 98  .79294    .78948    .78606    .78267    .77931

 

 99  .79972    .79635    .79302    .78971    .78644

 

 100  .80602    .80273    .79947    .79624    .79304

 

 101  .81201    .80880    .80561    .80245    .79932

 

 102  .81826    .81512    .81200    .80892    .80586

 

 103  .82487    .82181    .81878    .81577    .81279

 

 104  .83221    .82924    .82630    .82338    .82048

 

 105  .84132    .83846    .83563    .83282    .83003

 

 106  .85454    .85187    .84922    .84659    .84397

 

 107  .87384    .87147    .86911    .86676    .86443

 

 108  .90566    .90383    .90201    .90020    .89840

 

 109  .95788    .95704    .95620    .95537    .95455

 

 (table continued)

 

 AGE   10.2%     10.4%     10.6%     10.8%     11.0%

 

 0  .01891    .01864    .01838    .01814    .01791

 

 1  .00770    .00741    .00715    .00690    .00667

 

 2  .00751    .00721    .00693    .00667    .00643

 

 3  .00760    .00728    .00699    .00671    .00646

 

 4  .00786    .00752    .00721    .00692    .00665

 

 5  .00824    .00788    .00755    .00724    .00695

 

 6  .00869    .00832    .00796    .00764    .00733

 

 7  .00923    .00883    .00846    .00811    .00779

 

 8  .00986    .00943    .00904    .00867    .00833

 

 9  .01059    .01014    .00972    .00933    .00897

 

 10  .01142    .01095    .01051    .01009    .00971

 

 11  .01239    .01189    .01142    .01098    .01057

 

 12  .01345    .01292    .01243    .01197    .01154

 

 13  .01457    .01401    .01349    .01300    .01255

 

 14  .01567    .01508    .01453    .01402    .01354

 

 15  .01672    .01610    .01552    .01498    .01448

 

 16  .01772    .01707    .01646    .01589    .01536

 

 17  .01866    .01798    .01734    .01674    .01618

 

 18  .01958    .01886    .01818    .01755    .01697

 

 19  .02050    .01974    .01903    .01837    .01775

 

 20  .02143    .02064    .01989    .01919    .01854

 

 21  .02238    .02154    .02075    .02002    .01933

 

 22  .02336    .02247    .02164    .02087    .02014

 

 23  .02438    .02345    .02257    .02176    .02099

 

 24  .02550    .02451    .02359    .02273    .02192

 

 25  .02673    .02569    .02472    .02381    .02295

 

 26  .02811    .02701    .02598    .02502    .02411

 

 27  .02965    .02849    .02741    .02639    .02543

 

 28  .03134    .03013    .02898    .02790    .02689

 

 29  .03322    .03193    .03072    .02958    .02851

 

 30  .03527    .03391    .03264    .03143    .03030

 

 31  .03753    .03610    .03475    .03348    .03228

 

 32  .04000    .03849    .03707    .03573    .03446

 

 33  .04269    .04111    .03961    .03819    .03685

 

 34  .04561    .04394    .04236    .04087    .03946

 

 35  .04877    .04702    .04535    .04378    .04229

 

 36  .05215    .05031    .04856    .04690    .04533

 

 37  .05578    .05384    .05200    .05025    .04860

 

 38  .05965    .05761    .05568    .05385    .05211

 

 39  .06379    .06165    .05962    .05770    .05587

 

 40  .06820    .06596    .06383    .06181    .05989

 

 41  .07288    .07054    .06832    .06620    .06418

 

 42  .07784    .07539    .07306    .07085    .06873

 

 43  .08308    .08052    .07808    .07576    .07355

 

 44  .08861    .08594    .08340    .08097    .07865

 

 45  .09445    .09167    .08901    .08648    .08406

 

 46  .10060    .09770    .09494    .09230    .08977

 

 47  .10707    .10406    .10119    .09843    .09579

 

 48  .11386    .11073    .10774    .10487    .10213

 

 49  .12094    .11769    .11458    .11160    .10874

 

 50  .12831    .12494    .12172    .11862    .11565

 

 51  .13600    .13251    .12917    .12596    .12288

 

 52  .14405    .14044    .13698    .13366    .13046

 

 53  .15247    .14875    .14517    .14172    .13841

 

 54  .16124    .15740    .15370    .15014    .14671

 

 55  .17039    .16642    .16261    .15893    .15539

 

 56  .17991    .17583    .17190    .16811    .16445

 

 57  .18984    .18564    .18160    .17769    .17392

 

 58  .20018    .19587    .19172    .18770    .18382

 

 59  .21093    .20652    .20225    .19812    .19414

 

 60  .22206    .21753    .21316    .20893    .20483

 

 61  .23353    .22890    .22442    .22009    .21589

 

 62  .24532    .24059    .23601    .23158    .22728

 

 63  .25742    .25260    .24793    .24339    .23900

 

 64  .26987    .26495    .26019    .25556    .25107

 

 65  .28271    .27771    .27286    .26815    .26357

 

 66  .29601    .29093    .28600    .28120    .27654

 

 67  .30978    .30462    .29961    .29474    .29000

 

 68  .32401    .31879    .31371    .30877    .30396

 

 69  .33863    .33336    .32822    .32322    .31835

 

 70  .35361    .34829    .34310    .33804    .33311

 

 71  .36886    .36349    .35826    .35316    .34818

 

 72  .38439    .37899    .37373    .36858    .36356

 

 73  .40021    .39479    .38950    .38432    .37927

 

 74  .41639    .41096    .40565    .40046    .39538

 

 75  .43301    .42758    .42226    .41706    .41198

 

 76  .45009    .44467    .43937    .43417    .42908

 

 77  .46761    .46221    .45693    .45175    .44667

 

 78  .48548    .48013    .47488    .46973    .46468

 

 79  .50356    .49826    .49306    .48795    .48294

 

 80  .52171    .51647    .51133    .50628    .50132

 

 81  .53974    .53457    .52950    .52451    .51961

 

 82  .55753    .55245    .54745    .54254    .53771

 

 83  .57500    .57001    .56510    .56026    .55551

 

 84  .59216    .58726    .58245    .57770    .57304

 

 85  .60906    .60428    .59956    .59492    .59034

 

 86  .62555    .62088    .61627    .61173    .60725

 

 87  .64139    .63683    .63233    .62790    .62352

 

 88  .65666    .65221    .64783    .64350    .63923

 

 89  .67163    .66730    .66304    .65882    .65466

 

 90  .68646    .68226    .67812    .67402    .66998

 

 91  .70093    .69686    .69285    .68888    .68496

 

 92  .71466    .71073    .70684    .70300    .69920

 

 93  .72750    .72370    .71994    .71622    .71254

 

 94  .73931    .73562    .73198    .72838    .72481

 

 95  .75001    .74644    .74291    .73941    .73595

 

 96  .75953    .75606    .75262    .74923    .74586

 

 97  .76819    .76481    .76147    .75816    .75489

 

 98  .77599    .77270    .76944    .76621    .76302

 

 99  .78319    .77998    .77680    .77365    .77053

 

 100  .78987    .78673    .78362    .78054    .77748

 

 101  .79622    .79315    .79010    .78708    .78409

 

 102  .80283    .79983    .79685    .79390    .79097

 

 103  .80983    .80690    .80399    .80111    .79825

 

 104  .81760    .81475    .81192    .80912    .80633

 

 105  .82726    .82451    .82178    .81907    .81638

 

 106  .84137    .83879    .83623    .83368    .83115

 

 107  .86211    .85981    .85751    .85523    .85297

 

 108  .89660    .89481    .89304    .89127    .88950

 

 109  .95372    .95290    .95208    .95126    .95045

 

 (table continued)

 

 AGE   11.2%     11.4%     11.6%     11.8%     12.0%

 

 0  .01770    .01750    .01732    .01715    .01698

 

 1  .00646    .00626    .00608    .00590    .00574

 

 2  .00620    .00600    .00580    .00562    .00544

 

 3  .00622    .00600    .00579    .00560    .00541

 

 4  .00639    .00616    .00594    .00573    .00554

 

 5  .00668    .00643    .00620    .00598    .00578

 

 6  .00705    .00678    .00654    .00630    .00608

 

 7  .00749    .00720    .00694    .00669    .00646

 

 8  .00801    .00771    .00743    .00716    .00692

 

 9  .00863    .00831    .00801    .00773    .00747

 

 10  .00935    .00901    .00869    .00840    .00812

 

 11  .01019    .00983    .00950    .00918    .00889

 

 12  .01113    .01075    .01040    .01007    .00975

 

 13  .01212    .01172    .01135    .01100    .01067

 

 14  .01309    .01267    .01227    .01190    .01155

 

 15  .01400    .01356    .01314    .01275    .01238

 

 16  .01486    .01439    .01396    .01354    .01315

 

 17  .01566    .01516    .01470    .01427    .01386

 

 18  .01641    .01590    .01541    .01495    .01452

 

 19  .01717    .01662    .01611    .01563    .01517

 

 20  .01793    .01735    .01681    .01630    .01582

 

 21  .01868    .01807    .01750    .01696    .01646

 

 22  .01946    .01882    .01821    .01764    .01711

 

 23  .02027    .01959    .01895    .01835    .01778

 

 24  .02115    .02044    .01976    .01913    .01853

 

 25  .02214    .02138    .02067    .01999    .01936

 

 26  .02326    .02246    .02170    .02098    .02031

 

 27  .02452    .02367    .02287    .02211    .02140

 

 28  .02593    .02503    .02418    .02338    .02262

 

 29  .02750    .02654    .02564    .02479    .02398

 

 30  .02923    .02821    .02726    .02635    .02550

 

 31  .03115    .03008    .02907    .02811    .02720

 

 32  .03326    .03213    .03105    .03004    .02907

 

 33  .03558    .03438    .03325    .03217    .03115

 

 34  .03812    .03685    .03565    .03451    .03342

 

 35  .04087    .03953    .03826    .03706    .03591

 

 36  .04384    .04242    .04108    .03980    .03859

 

 37  .04703    .04553    .04411    .04276    .04148

 

 38  .05045    .04888    .04738    .04595    .04460

 

 39  .05412    .05247    .05089    .04939    .04795

 

 40  .05806    .05631    .05465    .05307    .05155

 

 41  .06226    .06042    .05868    .05701    .05541

 

 42  .06671    .06479    .06295    .06119    .05952

 

 43  .07143    .06941    .06748    .06564    .06387

 

 44  .07644    .07432    .07230    .07036    .06851

 

 45  .08174    .07953    .07741    .07538    .07343

 

 46  .08735    .08503    .08281    .08068    .07865

 

 47  .09327    .09085    .08853    .08630    .08417

 

 48  .09949    .09697    .09455    .09222    .08999

 

 49  .10600    .10337    .10084    .09842    .09609

 

 50  .11280    .11006    .10743    .10490    .10247

 

 51  .11991    .11706    .11432    .11169    .10915

 

 52  .12738    .12442    .12157    .11883    .11619

 

 53  .13522    .13215    .12919    .12635    .12360

 

 54  .14341    .14023    .13717    .13421    .13136

 

 55  .15198    .14868    .14551    .14244    .13948

 

 56  .16092    .15752    .15423    .15106    .14799

 

 57  .17029    .16677    .16338    .16010    .15692

 

 58  .18007    .17645    .17295    .16956    .16628

 

 59  .19028    .18655    .18294    .17945    .17606

 

 60  .20087    .19703    .19332    .18972    .18624

 

 61  .21182    .20788    .20407    .20037    .19678

 

 62  .22311    .21907    .21515    .21135    .20767

 

 63  .23473    .23060    .22658    .22268    .21890

 

 64  .24671    .24248    .23837    .23438    .23050

 

 65  .25912    .25480    .25059    .24651    .24254

 

 66  .27200    .26760    .26331    .25913    .25507

 

 67  .28539    .28090    .27653    .27227    .26813

 

 68  .29927    .29471    .29027    .28593    .28171

 

 69  .31359    .30896    .30445    .30005    .29576

 

 70  .32830    .32361    .31903    .31457    .31021

 

 71  .34332    .33858    .33394    .32942    .32500

 

 72  .35866    .35387    .34919    .34461    .34015

 

 73  .37433    .36950    .36478    .36016    .35565

 

 74  .39042    .38556    .38081    .37616    .37161

 

 75  .40699    .40212    .39734    .39267    .38809

 

 76  .42410    .41921    .41443    .40974    .40514

 

 77  .44170    .43682    .43203    .42734    .42274

 

 78  .45972    .45486    .45009    .44541    .44082

 

 79  .47802    .47319    .46845    .46379    .45922

 

 80  .49644    .49166    .48695    .48233    .47779

 

 81  .51479    .51006    .50541    .50083    .49633

 

 82  .53296    .52828    .52369    .51917    .51472

 

 83  .55083    .54623    .54170    .53724    .53285

 

 84  .56844    .56391    .55945    .55506    .55074

 

 85  .58583    .58139    .57702    .57270    .56845

 

 86  .60284    .59849    .59420    .58997    .58580

 

 87  .61921    .61495    .61076    .60661    .60253

 

 88  .63502    .63086    .62675    .62270    .61871

 

 89  .65055    .64650    .64249    .63854    .63463

 

 90  .66599    .66204    .65814    .65430    .65049

 

 91  .68108    .67725    .67347    .66973    .66604

 

 92  .69545    .69173    .68806    .68444    .68085

 

 93  .70890    .70530    .70174    .69822    .69474

 

 94  .72129    .71780    .71434    .71093    .70755

 

 95  .73253    .72914    .72579    .72247    .71919

 

 96  .74253    .73924    .73598    .73275    .72955

 

 97  .75165    .74844    .74526    .74211    .73899

 

 98  .75986    .75672    .75362    .75054    .74750

 

 99  .76744    .76437    .76134    .75833    .75535

 

 100  .77446    .77146    .76849    .76555    .76263

 

 101  .78113    .77819    .77528    .77239    .76953

 

 102  .78807    .78519    .78234    .77951    .77671

 

 103  .79541    .79260    .78981    .78705    .78430

 

 104  .80357    .80083    .79810    .79541    .79273

 

 105  .81371    .81106    .80843    .80582    .80322

 

 106  .82863    .82614    .82366    .82119    .81874

 

 107  .85071    .84847    .84624    .84403    .84182

 

 108  .88775    .88601    .88427    .88254    .88081

 

 109  .94964    .94883    .94803    .94723    .94643

 

 (table continued)

 

 AGE   12.2%     12.4%     12.6%     12.8%     13.0%

 

 0  .01683    .01669    .01655    .01642    .01630

 

 1  .00559    .00544    .00531    .00518    .00506

 

 2  .00528    .00513    .00499    .00485    .00473

 

 3  .00524    .00508    .00493    .00479    .00465

 

 4  .00536    .00519    .00503    .00488    .00473

 

 5  .00558    .00540    .00523    .00507    .00492

 

 6  .00588    .00569    .00550    .00533    .00517

 

 7  .00624    .00604    .00584    .00566    .00549

 

 8  .00668    .00646    .00626    .00606    .00588

 

 9  .00722    .00699    .00677    .00656    .00636

 

 10  .00785    .00761    .00737    .00715    .00694

 

 11  .00861    .00835    .00810    .00786    .00764

 

 12  .00946    .00918    .00891    .00866    .00843

 

 13  .01035    .01006    .00978    .00951    .00927

 

 14  .01122    .01091    .01061    .01034    .01007

 

 15  .01203    .01171    .01140    .01110    .01082

 

 16  .01279    .01244    .01211    .01181    .01151

 

 17  .01347    .01311    .01276    .01244    .01213

 

 18  .01411    .01373    .01336    .01302    .01270

 

 19  .01474    .01434    .01396    .01359    .01325

 

 20  .01537    .01494    .01454    .01415    .01379

 

 21  .01598    .01553    .01510    .01470    .01432

 

 22  .01660    .01613    .01568    .01525    .01485

 

 23  .01725    .01674    .01627    .01581    .01539

 

 24  .01796    .01742    .01692    .01644    .01599

 

 25  .01876    .01819    .01765    .01714    .01666

 

 26  .01967    .01907    .01850    .01796    .01745

 

 27  .02072    .02008    .01948    .01890    .01836

 

 28  .02190    .02122    .02057    .01996    .01938

 

 29  .02322    .02249    .02181    .02116    .02054

 

 30  .02469    .02392    .02319    .02250    .02184

 

 31  .02634    .02552    .02475    .02401    .02331

 

 32  .02816    .02729    .02647    .02568    .02494

 

 33  .03018    .02926    .02838    .02755    .02675

 

 34  .03239    .03142    .03048    .02960    .02875

 

 35  .03482    .03378    .03279    .03185    .03095

 

 36  .03743    .03633    .03528    .03428    .03333

 

 37  .04026    .03909    .03798    .03692    .03591

 

 38  .04330    .04207    .04089    .03977    .03869

 

 39  .04658    .04528    .04403    .04284    .04170

 

 40  .05011    .04873    .04741    .04615    .04495

 

 41  .05389    .05244    .05104    .04971    .04844

 

 42  .05791    .05638    .05491    .05350    .05216

 

 43  .06219    .06057    .05902    .05754    .05612

 

 44  .06673    .06503    .06340    .06184    .06034

 

 45  .07157    .06978    .06806    .06642    .06484

 

 46  .07669    .07481    .07301    .07128    .06962

 

 47  .08212    .08015    .07826    .07645    .07470

 

 48  .08784    .08578    .08380    .08190    .08006

 

 49  .09384    .09169    .08961    .08762    .08570

 

 50  .10013    .09787    .09570    .09361    .09160

 

 51  .10671    .10436    .10209    .09991    .09780

 

 52  .11365    .11120    .10883    .10655    .10435

 

 53  .12095    .11840    .11593    .11355    .11126

 

 54  .12860    .12595    .12338    .12090    .11851

 

 55  .13663    .13386    .13120    .12862    .12613

 

 56  .14503    .14217    .13940    .13672    .13413

 

 57  .15385    .15089    .14801    .14523    .14254

 

 58  .16311    .16004    .15706    .15418    .15139

 

 59  .17279    .16961    .16654    .16355    .16066

 

 60  .18286    .17958    .17640    .17332    .17033

 

 61  .19330    .18992    .18665    .18347    .18038

 

 62  .20409    .20061    .19724    .19396    .19078

 

 63  .21522    .21165    .20818    .20480    .20152

 

 64  .22672    .22306    .21949    .21602    .21265

 

 65  .23867    .23491    .23125    .22769    .22423

 

 66  .25112    .24727    .24353    .23988    .23632

 

 67  .26409    .26016    .25633    .25260    .24896

 

 68  .27760    .27359    .26968    .26586    .26214

 

 69  .29157    .28748    .28350    .27961    .27581

 

 70  .30596    .30181    .29775    .29379    .28992

 

 71  .32069    .31648    .31236    .30833    .30440

 

 72  .33578    .33151    .32733    .32325    .31925

 

 73  .35123    .34691    .34269    .33855    .33450

 

 74  .36715    .36279    .35852    .35434    .35024

 

 75  .38360    .37921    .37491    .37069    .36656

 

 76  .40064    .39623    .39190    .38765    .38349

 

 77  .41823    .41381    .40947    .40521    .40103

 

 78  .43632    .43189    .42755    .42329    .41910

 

 79  .45473    .45032    .44599    .44173    .43755

 

 80  .47333    .46894    .46463    .46040    .45623

 

 81  .49191    .48755    .48328    .47907    .47493

 

 82  .51034    .50603    .50179    .49762    .49351

 

 83  .52852    .52427    .52008    .51595    .51189

 

 84  .54648    .54228    .53815    .53407    .53006

 

 85  .56426    .56013    .55606    .55205    .54810

 

 86  .58169    .57764    .57364    .56970    .56581

 

 87  .59850    .59452    .59060    .58673    .58291

 

 88  .61476    .61086    .60702    .60322    .59947

 

 89  .63078    .62697    .62321    .61950    .61583

 

 90  .64674    .64302    .63935    .63573    .63215

 

 91  .66238    .65877    .65520    .65167    .64819

 

 92  .67730    .67379    .67032    .66689    .66350

 

 93  .69130    .68789    .68452    .68119    .67789

 

 94  .70421    .70090    .69762    .69438    .69118

 

 95  .71594    .71272    .70954    .70639    .70326

 

 96  .72638    .72325    .72014    .71707    .71403

 

 97  .73590    .73285    .72982    .72682    .72385

 

 98  .74448    .74149    .73853    .73560    .73269

 

 99  .75240    .74948    .74658    .74371    .74086

 

 100  .75974    .75687    .75403    .75121    .74842

 

 101  .76669    .76388    .76109    .75833    .75559

 

 102  .77393    .77117    .76844    .76573    .76304

 

 103  .78158    .77888    .77620    .77355    .77091

 

 104  .79007    .78743    .78482    .78222    .77964

 

 105  .80065    .79809    .79556    .79304    .79054

 

 106  .81631    .81389    .81149    .80911    .80674

 

 107  .83963    .83745    .83529    .83313    .83099

 

 108  .87910    .87739    .87569    .87400    .87232

 

 109  .94563    .94484    .94405    .94326    .94248

 

 (table continued)

 

 AGE   13.2%     13.4%     13.6%     13.8%     14.0%

 

 0  .01618    .01607    .01596    .01586    .01576

 

 1  .00494    .00484    .00473    .00464    .00454

 

 2  .00461    .00449    .00439    .00428    .00419

 

 3  .00453    .00441    .00429    .00419    .00408

 

 4  .00460    .00447    .00435    .00423    .00412

 

 5  .00477    .00464    .00451    .00439    .00427

 

 6  .00502    .00487    .00473    .00460    .00448

 

 7  .00532    .00517    .00502    .00488    .00475

 

 8  .00570    .00554    .00538    .00523    .00509

 

 9  .00617    .00600    .00583    .00567    .00552

 

 10  .00674    .00655    .00637    .00620    .00604

 

 11  .00743    .00723    .00704    .00686    .00668

 

 12  .00820    .00799    .00779    .00760    .00741

 

 13  .00903    .00880    .00859    .00839    .00819

 

 14  .00982    .00958    .00936    .00914    .00894

 

 15  .01056    .01031    .01007    .00985    .00963

 

 16  .01123    .01097    .01072    .01048    .01025

 

 17  .01184    .01156    .01130    .01104    .01081

 

 18  .01239    .01210    .01182    .01155    .01130

 

 19  .01293    .01262    .01233    .01205    .01178

 

 20  .01345    .01313    .01282    .01252    .01224

 

 21  .01396    .01361    .01329    .01298    .01268

 

 22  .01446    .01410    .01375    .01343    .01312

 

 23  .01498    .01460    .01423    .01388    .01355

 

 24  .01556    .01515    .01476    .01439    .01404

 

 25  .01621    .01577    .01536    .01497    .01460

 

 26  .01696    .01650    .01606    .01565    .01525

 

 27  .01784    .01735    .01688    .01644    .01601

 

 28  .01883    .01831    .01781    .01734    .01689

 

 29  .01996    .01940    .01887    .01836    .01788

 

 30  .02122    .02062    .02006    .01952    .01900

 

 31  .02264    .02201    .02140    .02083    .02028

 

 32  .02423    .02355    .02291    .02229    .02170

 

 33  .02600    .02528    .02459    .02393    .02331

 

 34  .02795    .02718    .02645    .02575    .02508

 

 35  .03009    .02928    .02850    .02775    .02704

 

 36  .03242    .03155    .03072    .02992    .02916

 

 37  .03494    .03401    .03313    .03228    .03147

 

 38  .03767    .03668    .03574    .03484    .03398

 

 39  .04061    .03957    .03857    .03762    .03670

 

 40  .04379    .04269    .04163    .04061    .03964

 

 41  .04721    .04604    .04492    .04384    .04281

 

 42  .05086    .04962    .04844    .04729    .04620

 

 43  .05475    .05344    .05218    .05098    .04981

 

 44  .05890    .05752    .05619    .05491    .05368

 

 45  .06332    .06186    .06046    .05911    .05781

 

 46  .06802    .06649    .06501    .06358    .06221

 

 47  .07302    .07140    .06984    .06834    .06690

 

 48  .07830    .07660    .07496    .07338    .07186

 

 49  .08384    .08206    .08034    .07868    .07708

 

 50  .08966    .08779    .08598    .08424    .08256

 

 51  .09577    .09381    .09192    .09009    .08832

 

 52  .10222    .10017    .09819    .09628    .09442

 

 53  .10904    .10689    .10482    .10282    .10088

 

 54  .11619    .11396    .11179    .10970    .10767

 

 55  .12372    .12138    .11912    .11694    .11482

 

 56  .13162    .12919    .12683    .12456    .12235

 

 57  .13994    .13741    .13496    .13259    .13029

 

 58  .14868    .14606    .14352    .14105    .13866

 

 59  .15786    .15514    .15250    .14994    .14745

 

 60  .16743    .16462    .16188    .15922    .15664

 

 61  .17738    .17447    .17164    .16889    .16622

 

 62  .18768    .18467    .18175    .17891    .17614

 

 63  .19833    .19523    .19221    .18928    .18642

 

 64  .20937    .20617    .20306    .20003    .19708

 

 65  .22085    .21757    .21437    .21125    .20821

 

 66  .23286    .22948    .22619    .22299    .21986

 

 67  .24541    .24195    .23857    .23528    .23206

 

 68  .25851    .25497    .25151    .24814    .24484

 

 69  .27211    .26849    .26495    .26150    .25812

 

 70  .28614    .28245    .27884    .27532    .27187

 

 71  .30055    .29679    .29312    .28952    .28600

 

 72  .31535    .31152    .30778    .30412    .30054

 

 73  .33054    .32666    .32286    .31914    .31550

 

 74  .34623    .34230    .33845    .33468    .33098

 

 75  .36250    .35853    .35464    .35082    .34708

 

 76  .37941    .37540    .37148    .36762    .36384

 

 77  .39692    .39290    .38895    .38507    .38126

 

 78  .41499    .41095    .40698    .40309    .39926

 

 79  .43344    .42940    .42543    .42153    .41770

 

 80  .45213    .44811    .44414    .44025    .43642

 

 81  .47085    .46684    .46290    .45902    .45520

 

 82  .48947    .48549    .48157    .47772    .47392

 

 83  .50788    .50394    .50006    .49623    .49246

 

 84  .52610    .52221    .51836    .51458    .51084

 

 85  .54420    .54035    .53656    .53282    .52913

 

 86  .56197    .55818    .55445    .55076    .54713

 

 87  .57913    .57541    .57174    .56811    .56453

 

 88  .59577    .59212    .58851    .58494    .58142

 

 89  .61220    .60862    .60508    .60159    .59813

 

 90  .62861    .62511    .62165    .61823    .61485

 

 91  .64474    .64133    .63795    .63462    .63132

 

 92  .66014    .65682    .65354    .65029    .64708

 

 93  .67463    .67140    .66820    .66504    .66191

 

 94  .68800    .68486    .68175    .67867    .67563

 

 95  .70017    .69712    .69409    .69109    .68812

 

 96  .71101    .70803    .70507    .70215    .69925

 

 97  .72090    .71799    .71510    .71224    .70941

 

 98  .72981    .72696    .72414    .72134    .71856

 

 99  .73805    .73525    .73248    .72974    .72702

 

 100  .74566    .74292    .74020    .73751    .73484

 

 101  .75287    .75018    .74751    .74486    .74223

 

 102  .76037    .75773    .75511    .75251    .74993

 

 103  .76830    .76571    .76313    .76058    .75805

 

 104  .77709    .77455    .77203    .76953    .76705

 

 105  .78805    .78559    .78314    .78071    .77829

 

 106  .80438    .80204    .79972    .79741    .79511

 

 107  .82886    .82674    .82463    .82254    .82045

 

 108  .87064    .86897    .86731    .86566    .86401

 

 109  .94170    .94092    .94014    .93937    .93860

 

 _____________________________________________________________________

 

 

(f) EFFECTIVE DATE. This section is effective as of May 1, 1989.

Par. 9. Section 1.642(c)-6A is further amended by revising the heading for Table G in newly designated paragraph (d)(4) to read as follows:

SECTION 1.642(c)-6A VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989.

* * * * *

(d) PRESENT VALUE OF REMAINDER INTEREST DEPENDENT ON THE TERMINATION OF ONE LIFE IN THE CASE OF TRANSFERS TO POOLED INCOME FUNDS MADE AFTER NOVEMBER 30, 1983, FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989.

* * * * *

(4) * * *

TABLE G

TABLE G -- SINGLE LIFE, UNISEX -- TABLE SHOWING THE PRESENT WORTH OF THE REMAINDER INTEREST IN PROPERTY TRANSFERRED TO A POOLED INCOME FUND HAVING THE YEARLY RATE OF RETURN SHOWN -- APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

Par. 10. Section 1.664-1 is amended as follows:

1. Paragraph (a)(5)(ii)(b) is revised.

2. Paragraphs (a)(5)(iv)(a) through (c) are revised and paragraph (a)(5)(iv)(d) is added.

3. Paragraph (a)(6), the introductory text, is revised.

4. The authority citation at the end of the section is removed.

5. The added and revised provisions read as follows:

SECTION 1.664-1 CHARITABLE REMAINDER TRUSTS.

(a) * * *

(5) * * *

(ii) * * *

(b)(1) In the case of transfers made after November 30, 1983, for which the valuation date is before May 1, 1989, a factor equal to 1.000000 less the factor under the appropriate adjusted payout rate in column 2 of Table D in section 1.664-4A(d)(6) opposite the number of years in column 1 between the date of death of the decedent and the date of the earlier of the death of the last recipient or the last day of such taxable year.

(2) In the case of transfers for which the valuation date is after April 30, 1989, a factor equal to 1.000000 less the factor under the appropriate adjusted payout rate in Table D in section 1.664-4(e)(6) opposite the number of years in column 1 between the date of death of the decedent and the date of the earlier of the death of the last recipient or the last day of such taxable year. The appropriate adjusted payout rate is determined by using the appropriate Table F contained in section 1.664-4(e)(6) for the section 7520 rate for the month of the valuation date.

(3) If the number of years between the date of death and the date of the earlier of the death of the last recipient or the last day of such taxable year is between periods for which factors are provided, a linear interpolation must be made.

* * * * *

(iv) * * *

(a) The section 7520 rate for the month in which the valuation date with respect to the transfer is (or one of the prior two months if elected under section 1.7520-2(b)) after April 30, 1989;

(b) 10 percent for instruments executed or amended (other than in the case of a reformation under section 2055(e)(3)) on or after August 9, 1984, and before May 1, 1989, and not subsequently amended;

(c) 6 percent or 10 percent for instruments executed or amended (other than in the case of a reformation under section 2055(e)(3)) after October 24, 1983, and before August 9, 1984; and

(d) 6 percent for instruments executed before October 25, 1983, and not subsequently amended (other than in the case of a reformation under section 2055(e)(3)).

(6) EXAMPLES. The application of the rules in paragraphs (a)(4) and (a)(5) of this section require the use of actuarial factors contained in section 1.664-4(e), section 1.664-4A(d), and former section 1.664-4(d) (as contained in the 26 CFR Part 1 edition revised as of April 1, 1994) and may be illustrated by use of the following examples:

* * * * *

Par. 11. Section 1.664-2 is amended as follows:

1. Paragraph (c) is revised as set forth below.

2. The authority citation at the end of the section is removed.

SECTION 1.664-2 CHARITABLE REMAINDER ANNUITY TRUST.

* * * * *

(c) CALCULATION OF THE FAIR MARKET VALUE OF THE REMAINDER INTEREST OF A CHARITABLE REMAINDER ANNUITY TRUST. For purposes of sections 170, 2055, 2106, and 2522, the fair market value of the remainder interest of a charitable remainder annuity trust (as described in this section ) is the net fair market value (as of the appropriate valuation date) of the property placed in trust less the present value of the annuity. For purposes of this section, VALUATION DATE means, in general, the date on which the property is transferred to the trust by the donor regardless of when the trust is created. In the case of transfers to a charitable remainder annuity trust for which the valuation date is after April 30, 1989, if an election is made under section 7520 and section 1.7520-2(b) to compute the present value of the charitable interest by use of the interest rate component for either of the 2 months preceding the month in which the transfer is made, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. For purposes of section 2055 or 2106, the valuation date is the date of death unless the alternate valuation date is elected in accordance with section 2032, in which event, and within the limitations set forth in section 2032 and the regulations thereunder, the valuation date is the alternate valuation date. If the decedent's estate elects the alternate valuation date under section 2032 and also elects, under section 7520 and section 1.7520-2(b), to use the interest rate component for one of the 2 months preceding the alternate valuation date, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. The present value of an annuity is computed under section 20.2031-7(d) of this chapter (Estate Tax Regulations) for transfers for which the valuation date is after April 30, 1989, or under section 20.2031-7A(a) through (d) of this chapter, whichever is applicable, for transfers for which the valuation date is before May 1, 1989. See, however, section 1.7520- 3(b)(relating to exceptions to the use of prescribed tables under certain circumstances). If the valuation date of a transfer to a charitable remainder annuity trust is after April 30, 1989, and before June 10, 1994, a transferor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See section 601.601(d)(2)(ii)(b) of this chapter), in valuing the transferred interest.

Par. 12. Immediately following section 1.664-4 an undesignated center heading and section 1.664-4A are added to read as follows:

UNITRUST ACTUARIAL TABLES APPLICABLE BEFORE MAY 1, 1989

SECTION 1.664-4A VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989.

(a) VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE JANUARY 1, 1952. There was no provision for the qualification of a charitable remainder unitrust under section 664 until 1969. See section 20.2031-7A(a) of this chapter (Estate Tax Regulations) for the determination of the present value of a charitable interest for which the valuation date is before January 1, 1952.

(b) VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS AFTER DECEMBER 31, 1951, AND BEFORE JANUARY 1, 1971. No charitable deduction is allowable for a transfer to a unitrust for which the valuation date is after the effective dates of the Tax Reform Act of 1969 unless the unitrust meets the requirements of section 664. See section 20.2031-7A(b) of this chapter (Estate Tax Regulations) for the determination of the present value of a charitable remainder interest for which the valuation date is after December 31, 1951, and before January 1, 1971.

(c) VALUATION OF CHARITABLE REMAINDER UNITRUSTS HAVING CERTAIN PAYOUT SEQUENCES FOR TRANSFERS FOR WHICH THE VALUATION DATE IS AFTER DECEMBER 31, 1970, AND BEFORE DECEMBER 1, 1983. For the determination of the present value of a charitable remainder unitrust for which the valuation date is after December 31, 1970, and before December 1, 1983, see section 20.2031-7A(c) of this chapter (Estate Tax Regulations) and former section 1.664-4(d)(as contained in the 26 CFR Part 1 edition revised as of April 1, 1994)

(d) VALUATION OF CHARITABLE REMAINDER UNITRUSTS HAVING CERTAIN PAYOUT SEQUENCES FOR TRANSFERS FOR WHICH THE VALUATION DATE IS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989 -- (1) IN GENERAL. Except as otherwise provided in paragraph (d)(2) of this section, in the case of transfers made after November 30, 1983, for which the valuation date is before May 1, 1989, the present value of a remainder interest that is dependent on a term of years or the termination of the life of one individual is determined under paragraphs (d)(3) through (d)(6) of this section, provided that the amount of the payout as of any payout date during any taxable year of the trust is not larger than the amount that the trust could distribute on such date under section 1.664-3(a)(1)(v) if the taxable year of the trust were to end on such date. The present value of the remainder interest in the trust is determined by computing the adjusted payout rate (as defined in paragraph (d)(3) of this section) and following the procedure outlined in paragraph (d)(4) or (d)(5) of this section, whichever is applicable. The present value of a remainder interest that is dependent on a term of years is computed under paragraph (d)(4) of this section. The present value of a remainder interest that is dependent on the termination of the life of one individual is computed under paragraph (d)(5) of this section. See paragraph (d)(2) of this section for testamentary transfers for which the valuation date is after November 30, 1983, and before August 9, 1984.

(2) RULES FOR DETERMINING THE PRESENT VALUE FOR TESTAMENTARY TRANSFERS WHERE THE DECEDENT DIES AFTER NOVEMBER 30, 1983, AND BEFORE AUGUST 9, 1984. For purposes of section 2055 or 2106, if --

(i) The decedent dies after November 30, 1983, and before August 9, 1984; or

(ii) On December 1, 1983, the decedent was mentally incompetent so that the disposition of the property could not be changed, and the decedent died after November 30, 1983, without regaining competency to dispose of the decedent's property, or died within 90 days of the date on which the decedent first regained competency, the present value determined under this section of a remainder interest is determined in accordance with paragraph (d)(1) and paragraphs (d)(3) through (d)(6) of this section, or section 1.664-4A(c), at the option of the taxpayer.

Par. 13. Section 1.664-4 is amended as follows:

1. Paragraph (a) is revised.

2. Paragraphs (b)(2) through (b)(5) are redesignated as paragraphs (d)(3) through (d)(6) of section 1.664-4A, respectively.

3. Paragraph (b)(1) is redesignated as paragraph (b) and revised.

4. Paragraphs (c) and (d) are revised.

5. The authority citation at the end of the section is removed.

6. Paragraphs (e) and (f) are added.

7. The revisions and additions read as follows:

SECTION 1.664-4 CALCULATION OF THE FAIR MARKET VALUE OF THE REMAINDER INTEREST IN A CHARITABLE REMAINDER UNITRUST.

(a) RULES FOR DETERMINING PRESENT VALUE. For purposes of section s 170, 2055, 2106, and 2522, the fair market value of a remainder interest in a charitable remainder unitrust (as described in section 1.664-3) is its present value determined under paragraph (d) of this section. The present value determined under this section shall be computed on the basis of --

(1) Life contingencies determined as to each life involved, from the values of 1x set forth in Table 80CNSMT contained in section 20.2031-7(d)(6) of this chapter (Estate Tax Regulations) in the case of transfers for which the valuation date is after April 30, 1989, or column 2 of Table LN, of section 20.2031-7A(d)(6) of this chapter in the case of transfers made after November 30, 1983, for which the valuation date is before May 1, 1989. See section 20.2031-7A(a) through (c) of this chapter, whichever is applicable, for transfers for which the valuation date is before December 1, 1983;

(2) Interest at the section 7520 rate in the case of transfers for which the valuation date is after April 30, 1989, or 10 percent in the case of transfers to charitable remainder unitrusts made after November 30, 1983, for which the valuation date is before May 1, 1989. See section 20.2031-7A(a) through (c) of this chapter, whichever is applicable, for transfers for which the valuation date is before December 1, 1983; and

(3) The assumption that the amount described in section 1.664-3(a)(1)(i)(a) is distributed in accordance with the payout sequence described in the governing instrument. If the governing instrument does not prescribe when the distribution is made during the period for which the payment is made, for purposes of this section, the distribution is considered payable on the first day of the period for which the payment is made.

(b) ACTUARIAL COMPUTATIONS BY THE INTERNAL REVENUE SERVICE. The regulations in this and in related sections provide tables of actuarial factors and examples that illustrate the use of the tables in determining the value of remainder interests in property. Section 1.7520-1(c)(2) refers to government publications that provide additional tables of factors and examples of computations for more complex situations. If the computation requires the use of a factor that is not provided in this section, the Commissioner may supply the factor upon a request for a ruling. A request for a ruling must be accompanied by a recitation of the facts including the date of birth of each measuring life, and copies of the relevant documents. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (See section 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee. If the Commissioner furnishes the factor, a copy of the letter supplying the factor should be attached to the tax return in which the deduction is claimed. If the Commissioner does not furnish the factor, the taxpayer must furnish a factor computed in accordance with the principles set forth in this section.

(c) STATEMENT SUPPORTING DEDUCTION REQUIRED. Any claim for a deduction on any return for the value of a remainder interest in a charitable remainder unitrust must be supported by a full statement attached to the return showing the computation of the present value of such interest.

(d) VALUATION. The fair market value of a remainder interest in a charitable remainder unitrust (as described in section 1.664-3) for transfers for which the valuation date is after April 30, 1989, is its present value determined under paragraph (e) of this section. The fair market value of a remainder interest in a charitable remainder unitrust (as described in section 1.664-3) for transfers for which the valuation date is before May 1, 1989, is its present value determined under the following sections:

   Valuation Dates

 

   _______________

 

                                              Applicable

 

 After           Before                       Regulations

 

 _____           ______                       ___________

 

 --            01-01-52                      1.664-4A(a)

 

 12-31-51        01-01-71                      1.664-4A(b)

 

 12-31-70        12-01-83                      1.664-4A(c)

 

 11-30-83        05-01-89                      1.664-4A(d)

 

 

(e) VALUATION OF CHARITABLE REMAINDER UNITRUSTS HAVING CERTAIN PAYOUT SEQUENCES FOR TRANSFERS FOR WHICH THE VALUATION DATE IS AFTER APRIL 30, 1989 -- (1) IN GENERAL. Except as otherwise provided in paragraph (e)(2) of this section, in the case of transfers for which the valuation date is after April 30, 1989, the present value of a remainder interest is determined under paragraphs (e)(3) through (e)(6) of this section, provided that the amount of the payout as of any payout date during any taxable year of the trust is not larger than the amount that the trust could distribute on such date under section 1.664-3(a)(1)(v) if the taxable year of the trust were to end on such date. See, however, section 1.7520-3(b)(relating to exceptions to the use of the prescribed tables under certain circumstances).

(2) TRANSITIONAL RULES FOR VALUATION OF CHARITABLE REMAINDER UNITRUSTS. (i) If the valuation date of a transfer to a charitable remainder unitrust is after April 30, 1989, and before June 10, 1994, a transferor can rely upon Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700, in valuing the transferred interest. (See section 601.601(d)(2)(ii)(b) of this chapter.)

(ii) For purposes of sections 2055, 2106, or 2624, if on May 1, 1989, the decedent was mentally incompetent so that the disposition of the property could not be changed, and the decedent died after April 30, 1989, without having regained competency to dispose of the decedent's property, or the decedent died within 90 days of the date that the decedent first regained competency after April 30, 1989, the present value of a remainder interest determined under this section is determined as if the valuation date with respect to the decedent's gross estate is either before May 1, 1989, or after April 30, 1989, at the option of the decedent's executor.

(3) ADJUSTED PAYOUT RATE. For transfers for which the valuation date is after April 30, 1989, the adjusted payout rate is determined by using the appropriate Table F, contained in paragraph (e)(6) of this section, for the section 7520 interest rate applicable to the transfer. If the interest rate is between 4.2 and 14 percent, see paragraph (e)(6) of this section. If the interest rate is below 4.2 percent or greater than 14 percent, see section 1.664-4(b). The adjusted payout rate is determined by multiplying the fixed percentage described in section 1.664-3(a)(1)(i)(a) by the factor describing the payout sequence of the trust and the number of months by which the valuation date for the first full taxable year of the trust precedes the first payout date for such taxable year. If the governing instrument does not prescribe when the distribution or distributions shall be made during the taxable year of the trust, see section 1.664-4(a). In the case of a trust having a payout sequence for which no figures have been provided by the appropriate table, and in the case of a trust that determines the fair market value of the trust assets by taking the average of valuations on more than one date during the taxable year, see section 1.664-4(b).

(4) PERIOD IS A TERM OF YEARS. If the period described in section 1.664-3(a)(5) is a term of years, the factor that is used in determining the present value of the remainder interest for transfers for which the valuation date is after April 30, 1989, is the factor under the appropriate adjusted payout rate in Table D in paragraph (e)(6) of this section corresponding to the number of years in the term. If the adjusted payout rate is an amount that is between adjusted payout rates for which factors are provided in Table D, a linear interpolation must be made. The present value of the remainder interest is determined by multiplying the net fair market value (as of the appropriate valuation date) of the property placed in trust by the factor determined under this paragraph. For purposes of this section, the valuation date is, in the case of an inter vivos transfer, the date on which the property is transferred to the trust by the donor. However, if an election is made under section 7520 and section 1.7520-2(b) to compute the present value of the charitable interest by use of the interest rate component for either of the 2 months preceding the month in which the date of transfer falls, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. In the case of a testamentary transfer under section 2055, 2106, or 2624, the valuation date is the date of death, unless the alternate valuation date is elected under section 2032, in which event, and within the limitations set forth in section 2032 and the regulations thereunder, the valuation date is the alternate valuation date. If the decedent's estate elects the alternate valuation date under section 2032 and also elects, under section 7520 and section 1.7520-2(b), to use the interest rate component for one of the 2 months preceding the alternate valuation date, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. If the adjusted payout rate is between 4.2 and 14 percent, see paragraph (e)(6) of this section. If the adjusted payout rate is less than 4.2 percent or greater than 14 percent, see section 1.664-4(b). The application of this paragraph may be illustrated by the following example:

EXAMPLE. D transfers $100,000 to a charitable remainder unitrust on January 1, 1990. The trust instrument requires that the trust pay 8 percent of the fair market value of the trust assets as of January 1st for a term of 12 years to D in quarterly payments (March 31, June 30, September 30, and December 31). The section 7520 rate for January 1990 is 9.6 percent. Under Table F(9.6), the appropriate adjustment factor is.944628 for quarterly payments payable at the end of each quarter. The adjusted payout rate is 7.557 (8% X .944628). Based on the remainder factors in Table D, the present value of the remainder interest is $38,950.30, computed as follows:

 Factor at 7.4 percent for 12 years           .397495

 

 Factor at 7.6 percent for 12 years           .387314

 

                                               ______

 

 Difference                                   .010181

 

 Interpolation adjustment:

 

 (7.557% - 7.4%) / 0.2%    =      x / .010181

 

 x =  .007992

 

 Factor at 7.4 percent for 12 years          .397495

 

 Less: Interpolation adjustment              .007992

 

                                              ______

 

 Interpolated factor                         .389503

 

 Present value of remainder interest:

 

 ($100,000 X .389503)            $38,950.30

 

 

(5) PERIOD IS THE LIFE OF ONE INDIVIDUAL. If the period described in section 1.664-3(a)(5) is the life of one individual, the factor that is used in determining the present value of the remainder interest for transfers for which the valuation date is after April 30, 1989, is the factor in Table U(1) in paragraph (e)(6) of this section under the appropriate adjusted payout. For purposes of the computations described in this paragraph, the age of an individual is the age of that individual at the individual's nearest birthday. If the adjusted payout rate is an amount that is between adjusted payout rates for which factors are provided in the appropriate table, a linear interpolation must be made. The present value of the remainder interest is determined by multiplying the net fair market value (as of the valuation date as determined in paragraph (e)(4) of this section) of the property placed in trust by the factor determined under this paragraph (e)(5). If the adjusted payout rate is between 4.2 and 14 percent, see paragraph (e)(6) of this section. If the adjusted payout rate is below 4.2 percent or greater than 14 percent, see section 1.664-4(b). The application of this paragraph may be illustrated by the following example:

EXAMPLE. A, who will be 45 years old on February 19, 1990, transfers $100,000 to a charitable remainder unitrust on January 1, 1990. The trust instrument requires that the trust pay to A semiannually (on June 30 and December 31) 9 percent of the fair market value of the trust assets as of January 1st during A's life. The section 7520 rate for January 1990 is 9.6 percent. Under Table F(9.6), the appropriate adjustment factor is .933805 for semiannual payments payable at the end of the semiannual period. The adjusted payout rate is 8.404 (9% X .933805). Based on the remainder factors in Table U(1), the present value of the remainder interest is $11,098.00, computed as follows:

 Factor at 8.4 percent at age 45                     .11106

 

 Factor at 8.6 percent at age 45                     .10683

 

                                                      _____

 

 Difference                                          .00423

 

 Interpolation adjustment:

 

 (8.404% - 8.4%) / 0.2%     =      x   .00423

 

 x      =    .00008

 

 Factor at 8.4 percent at age 45                     .11106

 

 Less: Interpolation adjustment                      .00008

 

                                                      _____

 

 Interpolated Factor                                 .11098

 

 Present value of remainder interest:

 

 ($100,000  X .11098)                     $11,098.00

 

 

(6) ACTUARIAL TABLES FOR TRANSFERS FOR WHICH THE VALUATION DATE IS AFTER APRIL 30, 1989. For transfers for which the valuation date is after April 30, 1989, the present value of a charitable remainder unitrust interest that is dependent on a term of years or the termination of a life interest is determined by using the section 7520 rate and the tables set forth below. See, however, section 1.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances). Many actuarial factors not contained in the following tables are contained in Internal Revenue Service Publication 1458, "Actuarial Values, Beta Volume," (8-89). A copy of this publication may be purchased from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402.

 TABLE D

 

 SHOWING THE PRESENT WORTH OF A REMAINDER INTEREST

 

 POSTPONED FOR A TERM CERTAIN IN A CHARITABLE

 

 REMAINDER UNITRUST

 

 APPLICABLE AFTER APRIL 30, 1989

 

 ADJUSTED PAYOUT RATE

 

 YEARS   4.2%     4.4%      4.6%      4.8%      5.0%

 

 1  .958000   .956000   .954000   .952000   .950000

 

 2  .917764   .913936   .910116   .906304   .902500

 

 3  .879218   .873723   .868251   .862801   .857375

 

 4  .842291   .835279   .828311   .821387   .814506

 

 5  .806915   .798527   .790209   .781960   .773781

 

 6  .773024   .763392   .753859   .744426   .735092

 

 7  .740557   .729802   .719182   .708694   .698337

 

 8  .709454   .697691   .686099   .674677   .663420

 

 9  .679657   .666993   .654539   .642292   .630249

 

 10  .651111   .637645   .624430   .611462   .598737

 

 11  .623764   .609589   .595706   .582112   .568800

 

 12  .597566   .582767   .568304   .554170   .540360

 

 13  .572469   .557125   .542162   .527570   .513342

 

 14  .548425   .532611   .517222   .502247   .487675

 

 15  .525391   .509177   .493430   .478139   .463291

 

 16  .503325   .486773   .470732   .455188   .440127

 

 17  .482185   .465355   .449079   .433339   .418120

 

 18  .461933   .444879   .428421   .412539   .397214

 

 19  .442532   .425304   .408714   .392737   .377354

 

 20  .423946   .406591   .389913   .373886   .358486

 

 (Table continued)

 

 YEARS  5.2%      5.4%     5.6%       5.8%      6.0%

 

 1  .948000   .946000   .944000   .942000   .940000

 

 2  .898704   .894916   .891136   .887364   .883600

 

 3  .851971   .846591   .841232   .835897   .830584

 

 4  .807669   .800875   .794123   .787415   .780749

 

 5  .765670   .757627   .749652   .741745   .733904

 

 6  .725855   .716716   .707672   .698724   .689870

 

 7  .688111   .678013   .668042   .658198   .648478

 

 8  .652329   .641400   .630632   .620022   .609569

 

 9  .618408   .606765   .595317   .584061   .572995

 

 10  .586251   .573999   .561979   .550185   .538615

 

 11  .555766   .543003   .530508   .518275   .506298

 

 12  .526866   .513681   .500800   .488215   .475920

 

 13  .499469   .485942   .472755   .459898   .447365

 

 14  .473496   .459701   .446281   .433224   .420523

 

 15  .448875   .434878   .421289   .408097   .395292

 

 16  .425533   .411394   .397697   .384427   .371574

 

 17  .403405   .389179   .375426   .362131   .349280

 

 18  .382428   .368163   .354402   .341127   .328323

 

 19  .362542   .348282   .334555   .321342   .308624

 

 20  .343690   .329475   .315820   .302704   .290106

 

 YEARS  6.2%      6.4%      6.6%      6.8%      7.0%

 

 1  .938000   .936000   .934000   .932000   .930000

 

 2  .879844   .876096   .872356   .868624   .864900

 

 3  .825294   .820026   .814781   .809558   .804357

 

 4  .774125   .767544   .761005   .754508   .748052

 

 5  .726130   .718421   .710779   .703201   .695688

 

 6  .681110   .672442   .663867   .655383   .646990

 

 7  .638881   .629406   .620052   .610817   .601701

 

 8  .599270   .589124   .579129   .569282   .559582

 

 9  .562115   .551420   .540906   .530571   .520411

 

 10  .527264   .516129   .505206   .494492   .483982

 

 11  .494574   .483097   .471863   .460866   .450104

 

 12  .463910   .452179   .440720   .429527   .418596

 

 13  .435148   .423239   .411632   .400320   .389295

 

 14  .408169   .396152   .384465   .373098   .362044

 

 15  .382862   .370798   .359090   .347727   .336701

 

 16  .359125   .347067   .335390   .324082   .313132

 

 17  .336859   .324855   .313254   .302044   .291213

 

 18  .315974   .304064   .292579   .281505   .270828

 

 19  .296383   .284604   .273269   .262363   .251870

 

 20  .278008   .266389   .255233   .244522   .234239

 

 (Table continued)

 

 YEARS  7.2%      7.4%      7.6%      7.8%      8.0%

 

 1  .928000   .926000   .924000   .922000   .920000

 

 2  .861184   .857476   .853776   .850084   .846400

 

 3  .799179   .794023   .788889   .783777   .778688

 

 4  .741638   .735265   .728933   .722643   .716393

 

 5  .688240   .680855   .673535   .666277   .659082

 

 6  .638687   .630472   .622346   .614307   .606355

 

 7  .592701   .583817   .575048   .566391   .557847

 

 8  .550027   .540615   .531344   .522213   .513219

 

 9  .510425   .500609   .490962   .481480   .472161

 

 10  .473674   .463564   .453649   .443925   .434388

 

 11  .439570   .429260   .419171   .409298   .399637

 

 12  .407921   .397495   .387314   .377373   .367666

 

 13  .378550   .368081   .357879   .347938   .338253

 

 14  .351295   .340843   .330680   .320799   .311193

 

 15  .326002   .315620   .305548   .295777   .286297

 

 16  .302529   .292264   .282326   .272706   .263394

 

 17  .280747   .270637   .260870   .251435   .242322

 

 18  .260533   .250610   .241044   .231823   .222936

 

 19  .241775   .232065   .222724   .213741   .205101

 

 20  .224367   .214892   .205797   .197069   .188693

 

 YEARS  8.2%      8.4%      8.6%      8.8%      9.0%

 

 1  .918000   .916000   .914000   .912000   .910000

 

 2  .842724   .839056   .835396   .831744   .828100

 

 3  .773621   .768575   .763552   .758551   .753571

 

 4  .710184   .704015   .697886   .691798   .685750

 

 5  .651949   .644878   .637868   .630920   .624032

 

 6  .598489   .590708   .583012   .575399   .567869

 

 7  .549413   .541089   .532873   .524764   .516761

 

 8  .504361   .495637   .487046   .478585   .470253

 

 9  .463003   .454004   .445160   .436469   .427930

 

 10  .425037   .415867   .406876   .398060   .389416

 

 11  .390184   .380934   .371885   .363031   .354369

 

 12  .358189   .348936   .339902   .331084   .322475

 

 13  .328817   .319625   .310671   .301949   .293453

 

 14  .301854   .292777   .283953   .275377   .267042

 

 15  .277102   .268184   .259533   .251144   .243008

 

 16  .254380   .245656   .237213   .229043   .221137

 

 17  .233521   .225021   .216813   .208887   .201235

 

 18  .214372   .206119   .198167   .190505   .183124

 

 19  .196794   .188805   .181125   .173741   .166643

 

 20  .180657   .172946   .165548   .158452   .151645

 

 (Table continued)

 

 YEARS  9.2%      9.4%     9.6%       9.8%      10.0%

 

 1  .908000   .906000   .904000   .902000   .900000

 

 2  .824464   .820836   .817216   .813604   .810000

 

 3  .748613   .743677   .738763   .733871   .729000

 

 4  .679741   .673772   .667842   .661951   .656100

 

 5  .617205   .610437   .603729   .597080   .590490

 

 6  .560422   .553056   .545771   .538566   .531441

 

 7  .508863   .501069   .493377   .485787   .478297

 

 8  .462048   .453968   .446013   .438180   .430467

 

 9  .419539   .411295   .403196   .395238   .387420

 

 10  .380942   .372634   .364489   .356505   .348678

 

 11  .345895   .337606   .329498   .321567   .313811

 

 12  .314073   .305871   .297866   .290054   .282430

 

 13  .285178   .277119   .269271   .261628   .254187

 

 14  .258942   .251070   .243421   .235989   .228768

 

 15  .235119   .227469   .220053   .212862   .205891

 

 16  .213488   .206087   .198928   .192001   .185302

 

 17  .193847   .186715   .179830   .173185   .166772

 

 18  .176013   .169164   .162567   .156213   .150095

 

 19  .159820   .153262   .146960   .140904   .135085

 

 20  .145117   .138856   .132852   .127096   .121577

 

 YEARS  10.2%     10.4%     10.6%     10.8%     11.0%

 

 1  .898000   .896000   .894000   .892000   .890000

 

 2  .806404   .802816   .799236   .795664   .792100

 

 3  .724151   .719323   .714517   .709732   .704969

 

 4  .650287   .644514   .638778   .633081   .627422

 

 5  .583958   .577484   .571068   .564708   .558406

 

 6  .524394   .517426   .510535   .503720   .496981

 

 7  .470906   .463613   .456418   .449318   .442313

 

 8  .422874   .415398   .408038   .400792   .393659

 

 9  .379741   .372196   .364786   .357506   .350356

 

 10  .341007   .333488   .326118   .318896   .311817

 

 11  .306224   .298805   .291550   .284455   .277517

 

 12  .274989   .267729   .260645   .253734   .246990

 

 13  .246941   .239886   .233017   .226331   .219821

 

 14  .221753   .214937   .208317   .201887   .195641

 

 15  .199134   .192584   .186236   .180083   .174121

 

 16  .178822   .172555   .166495   .160634   .154967

 

 17  .160582   .154609   .148846   .143286   .137921

 

 18  .144203   .138530   .133069   .127811   .122750

 

 19  .129494   .124123   .118963   .114007   .109247

 

 20  .116286   .111214   .106353   .101694   .097230

 

 (Table continued)

 

 YEARS  11.2%     11.4%     11.6%     11.8%     12.0%

 

 1  .888000   .886000   .884000   .882000   .880000

 

 2  .788544   .784996   .781456   .777924   .774400

 

 3  .700227   .695506   .690807   .686129   .681472

 

 4  .621802   .616219   .610673   .605166   .599695

 

 5  .552160   .545970   .539835   .533756   .527732

 

 6  .490318   .483729   .477214   .470773   .464404

 

 7  .435402   .428584   .421858   .415222   .408676

 

 8  .386637   .379726   .372922   .366226   .359635

 

 9  .343334   .336437   .329663   .323011   .316478

 

 10  .304881   .298083   .291422   .284896   .278501

 

 11  .270734   .264102   .257617   .251278   .245081

 

 12  .240412   .233994   .227734   .221627   .215671

 

 13  .213486   .207319   .201317   .195475   .189791

 

 14  .189575   .183684   .177964   .172409   .167016

 

 15  .168343   .162744   .157320   .152065   .146974

 

 16  .149488   .144191   .139071   .134121   .129337

 

 17  .132746   .127754   .122939   .118295   .113817

 

 18  .117878   .113190   .108678   .104336   .100159

 

 19  .104676   .100286   .096071   .092024   .088140

 

 20  .092952   .088853   .084927   .081166   .077563

 

 YEARS  12.2%     12.4%     12.6%     12.8%     13.0%

 

 1  .878000   .876000   .874000   .872000   .870000

 

 2  .770884   .767376   .763876   .760384   .756900

 

 3  .676836   .672221   .667628   .663055   .658503

 

 4  .594262   .588866   .583507   .578184   .572898

 

 5  .521762   .515847   .509985   .504176   .498421

 

 6  .458107   .451882   .445727   .439642   .433626

 

 7  .402218   .395848   .389565   .383368   .377255

 

 8  .353147   .346763   .340480   .334297   .328212

 

 9  .310063   .303764   .297579   .291507   .285544

 

 10  .272236   .266098   .260084   .254194   .248423

 

 11  .239023   .233102   .227314   .221657   .216128

 

 12  .209862   .204197   .198672   .193285   .188032

 

 13  .184259   .178877   .173640   .168544   .163588

 

 14  .161779   .156696   .151761   .146971   .142321

 

 15  .142042   .137266   .132639   .128158   .123819

 

 16  .124713   .120245   .115927   .111754   .107723

 

 17  .109498   .105334   .101320   .097450   .093719

 

 18  .096139   .092273   .088554   .084976   .081535

 

 19  .084410   .080831   .077396   .074099   .070936

 

 20  .074112   .070808   .067644   .064614   .061714

 

 (Table continued)

 

 YEARS  13.2%     13.4%    13.6%      13.8%     14.0%

 

 1  .868000   .866000   .864000   .862000   .860000

 

 2  .753424   .749956   .746496   .743044   .739600

 

 3  .653972   .649462   .644973   .640504   .636056

 

 4  .567648   .562434   .557256   .552114   .547008

 

 5  .492718   .487068   .481469   .475923   .470427

 

 6  .427679   .421801   .415990   .410245   .404567

 

 7  .371226   .365279   .359415   .353631   .347928

 

 8  .322224   .316332   .310535   .304830   .299218

 

 9  .279690   .273944   .268302   .262764   .257327

 

 10  .242771   .237235   .231813   .226502   .221302

 

 11  .210725   .205446   .200286   .195245   .190319

 

 12  .182910   .177916   .173047   .168301   .163675

 

 13  .158766   .154075   .149513   .145076   .140760

 

 14  .137809   .133429   .129179   .125055   .121054

 

 15  .119618   .115550   .111611   .107798   .104106

 

 16  .103828   .100066   .096432   .092922   .089531

 

 17  .090123   .086657   .083317   .080098   .076997

 

 18  .078227   .075045   .071986   .069045   .066217

 

 19  .067901   .064989   .062196   .059517   .056947

 

 20  .058938   .056280   .053737   .051303   .048974

 

 ____________________________________________________________________

 

 TABLE F(4.2), WITH INTEREST AT 4.2 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ______________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 ______________________________________________________________________

 

 ..        1        1.000000     .989820      .984755      .981389

 

 1         2         .996577     .986432      .981385      .978030

 

 2         3         .993166     .983056      .978026

 

 3         4         .989767     .979691      .974679

 

 4         5         .986380     .976338

 

 5         6         .983004     .972996

 

 6         7         .979639     .969666

 

 7         8         .976286

 

 8         9         .972945

 

 9        10         .969615

 

 10       11         .966296

 

 11       12         .962989

 

 12       ..         .959693

 

 _____________________________________________________________________

 

 TABLE F(4.4), WITH INTEREST AT 4.4 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 ______________________________________________________________________

 

 ..        1        1.000000     .989350      .984054      .980533

 

 1         2         .996418     .985806      .980529      .977021

 

 2         3         .992849     .982275      .977017

 

 3         4         .989293     .978757      .973517

 

 4         5         .985749     .975251

 

 5         6         .982219     .971758

 

 6         7         .978700     .968277

 

 7         8         .975195

 

 8         9         .971702

 

 9        10         .968221

 

 10       11         .964753

 

 11       12         .961298

 

 12       ..         .957854

 

 _____________________________________________________________________

 

 TABLE F(4.6), WITH INTEREST AT 4.6 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .988882      .983354      .979680

 

 1         2         .996259     .985183      .979676      .976015

 

 2         3         .992532     .981498      .976011

 

 3         4         .988820     .977826      .972360

 

 4         5         .985121     .974168

 

 5         6         .981436     .970524

 

 6         7         .977764     .966894

 

 7         8         .974107

 

 8         9         .970463

 

 9        10         .966832

 

 10       11         .963216

 

 11       12         .959613

 

 12       ..         .956023

 

 _____________________________________________________________________

 

 TABLE F(4.8), WITH INTEREST AT 4.8 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .988415      .982657      .978830

 

 1         2         .996101     .984561      .978825      .975013

 

 2         3         .992217     .980722      .975008

 

 3         4         .988348     .976898      .971206

 

 4         5         .984494     .973089

 

 5         6         .980655     .969294

 

 6         7         .976831     .965515

 

 7         8         .973022

 

 8         9         .969228

 

 9        10         .965448

 

 10       11         .961684

 

 11       12         .957934

 

 12       ..         .954198

 

 _____________________________________________________________________

 

 TABLE F(5.0), WITH INTEREST AT 5.0 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .987950      .981961      .977982

 

 1         2         .995942     .983941      .977977      .974014

 

 2         3         .991901     .979949      .974009

 

 3         4         .987877     .975973      .970057

 

 4         5         .983868     .972013

 

 5         6         .979876     .968069

 

 6         7         .975900     .964141

 

 7         8         .971940

 

 8         9         .967997

 

 9        10         .964069

 

 10       11         .960157

 

 11       12         .956261

 

 12       ..         .952381

 

 _____________________________________________________________________

 

 TABLE F(5.2), WITH INTEREST AT 5.2 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .987486      .981268      .977137

 

 1         2         .995784     .983323      .977132      .973018

 

 2         3         .991587     .979178      .973012

 

 3         4         .987407     .975050      .968911

 

 4         5         .983244     .970940

 

 5         6         .979099     .966847

 

 6         7         .974972     .962771

 

 7         8         .970862

 

 8         9         .966769

 

 9        10         .962694

 

 10       11         .958636

 

 11       12         .954594

 

 12       ..         .950570

 

 _____________________________________________________________________

 

 TABLE F(5.4), WITH INTEREST AT 5.4 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .987023      .980577      .976295

 

 1         2         .995627     .982707      .976289      .972026

 

 2         3         .991273     .978409      .972019

 

 3         4         .986938     .974131      .967769

 

 4         5         .982622     .969871

 

 5         6         .978325     .965629

 

 6         7         .974047     .961407

 

 7         8         .969787

 

 8         9         .965546

 

 9        10         .961323

 

 10       11         .957119

 

 11       12         .952934

 

 12       ..         .948767

 

 _____________________________________________________________________

 

 TABLE F(5.6), WITH INTEREST AT 5.6 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .986562      .979888      .975455

 

 1         2         .995470     .982092      .975449      .971036

 

 2         3         .990960     .977643      .971029

 

 3         4         .986470     .973214      .966630

 

 4         5         .982001     .968805

 

 5         6         .977552     .964416

 

 6         7         .973124     .960047

 

 7         8         .968715

 

 8         9         .964326

 

 9        10         .959958

 

 10       11         .955609

 

 11       12         .951279

 

 12       ..         .946970

 

 _____________________________________________________________________

 

 TABLE F(5.8), WITH INTEREST AT 5.8 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .986102      .979201      .974618

 

 1         2         .995313     .981480      .974611      .970050

 

 2         3         .990647     .976879      .970043

 

 3         4         .986004     .972300      .965496

 

 4         5         .981382     .967743

 

 5         6         .976782     .963206

 

 6         7         .972203     .958692

 

 7         8         .967646

 

 8         9         .963111

 

 9        10         .958596

 

 10       11         .954103

 

 11       12         .949631

 

 12       ..         .945180

 

 _____________________________________________________________________

 

 TABLE F(6.0), WITH INTEREST AT 6.0 PERCENT, SHOWING FACTORS FOR

 

 COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .985643      .978516      .973784

 

 1         2         .995156     .980869      .973776      .969067

 

 2         3         .990336     .976117      .969059

 

 3         4         .985538     .971389      .964365

 

 4         5         .980764     .966684

 

 5         6         .976014     .962001

 

 6         7         .971286     .957341

 

 7         8         .966581

 

 8         9         .961899

 

 9        10         .957239

 

 10       11         .952603

 

 11       12         .947988

 

 12       ..         .943396

 

 _____________________________________________________________________

 

 TABLE F(6.2), WITH INTEREST AT 6.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .985185      .977833      .972952

 

 1         2         .995000     .980259      .972944      .968087

 

 2         3         .990024     .975358      .968079

 

 3         4         .985074     .970481      .963238

 

 4         5         .980148     .965628

 

 5         6         .975247     .960799

 

 6         7         .970371     .955995

 

 7         8         .965519

 

 8         9         .960691

 

 9        10         .955887

 

 10       11         .951107

 

 11       12         .946352

 

 12       ..         .941620

 

 TABLE F(6.4), WITH INTEREST AT 6.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .984729      .977152      .972122

 

 1         2         .994844     .979652      .972114      .967110

 

 2         3         .989714     .974600      .967101

 

 3         4         .984611     .969575      .962115

 

 4         5         .979534     .964576

 

 5         6         .974483     .959602

 

 6         7         .969458     .954654

 

 7         8         .964460

 

 8         9         .959487

 

 9        10         .954539

 

 10       11         .949617

 

 11       12         .944721

 

 12       ..         .939850

 

 TABLE F(6.6), WITH INTEREST AT 6.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .984274      .976473      .971295

 

 1         2         .994688     .979046      .971286      .966136

 

 2         3         .989404     .973845      .966127

 

 3         4         .984149     .968672      .960995

 

 4         5         .978921     .963527

 

 5         6         .973721     .958408

 

 6         7         .968549     .953317

 

 7         8         .963404

 

 8         9         .958286

 

 9        10         .953196

 

 10       11         .948132

 

 11       12         .943096

 

 12       ..         .938086

 

 TABLE F(6.8), WITH INTEREST AT 6.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .983821      .975796      .970471

 

 1         2         .994533     .978442      .970461      .965165

 

 2         3         .989095     .973092      .965156

 

 3         4         .983688     .967772      .959879

 

 4         5         .978309     .962481

 

 5         6         .972961     .957219

 

 6         7         .967641     .951985

 

 7         8         .962351

 

 8         9         .957089

 

 9        10         .951857

 

 10       11         .946653

 

 11       12         .941477

 

 12       ..         .936330

 

 TABLE F(7.0), WITH INTEREST AT 7.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .983368      .975122      .969649

 

 1         2         .994378     .977839      .969639      .964198

 

 2         3         .988787     .972342      .964187

 

 3         4         .983228     .966875      .958766

 

 4         5         .977700     .961439

 

 5         6         .972203     .956033

 

 6         7         .966736     .950658

 

 7         8         .961301

 

 8         9         .955896

 

 9        10         .950522

 

 10       11         .945178

 

 11       12         .939864

 

 12       ..         .934579

 

 TABLE F(7.2), WITH INTEREST AT 7.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .982917      .974449      .968830

 

 1         2         .994223     .977239      .968819      .963233

 

 2         3         .988479     .971593      .963222

 

 3         4         .982769     .965980      .957658

 

 4         5         .977091     .960400

 

 5         6         .971446     .954851

 

 6         7         .965834     .949335

 

 7         8         .960255

 

 8         9         .954707

 

 9        10         .949192

 

 10       11         .943708

 

 11       12         .938256

 

 12       ..         .932836

 

 TABLE F(7.4), WITH INTEREST AT 7.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD     PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .982467      .973778      .968013

 

 1         2         .994068     .976640      .968002      .962271

 

 2         3         .988172     .970847      .962260

 

 3         4         .982311     .965088      .956552

 

 4         5         .976484     .959364

 

 5         6         .970692     .953673

 

 6         7         .964935     .948017

 

 7         8         .959211

 

 8         9         .953521

 

 9        10         .947866

 

 10       11         .942243

 

 11       12         .936654

 

 12       ..         .931099

 

 TABLE F(7.6), WITH INTEREST AT 7.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .982019      .973109      .967199

 

 1         2         .993914     .976042      .967187      .961313

 

 2         3         .987866     .970103      .961301

 

 3         4         .981854     .964199      .955451

 

 4         5         .975879     .958331

 

 5         6         .969940     .952499

 

 6         7         .964037     .946703

 

 7         8         .958171

 

 8         9         .952340

 

 9        10         .946544

 

 10       11         .940784

 

 11       12         .935058

 

 12       ..         .929368

 

 TABLE F(7.8), WITH INTEREST AT 7.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .981571      .972442      .966387

 

 1         2         .993761     .975447      .966374      .960357

 

 2         3         .987560     .969361      .960345

 

 3         4         .981398     .963312      .954353

 

 4         5         .975275     .957302

 

 5         6         .969190     .951329

 

 6         7         .963143     .945393

 

 7         8         .957133

 

 8         9         .951161

 

 9        10         .945227

 

 10       11         .939329

 

 11       12         .933468

 

 12       ..         .927644

 

 TABLE F(8.0), WITH INTEREST AT 8.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .981125      .971777      .965578

 

 1         2         .993607     .974853      .965564      .959405

 

 2         3         .987255     .968621      .959392

 

 3         4         .980944     .962429      .953258

 

 4         5         .974673     .956276

 

 5         6         .968442     .950162

 

 6         7         .962250     .944088

 

 7         8         .956099

 

 8         9         .949987

 

 9        10         .943913

 

 10       11         .937879

 

 11       12         .931883

 

 12       ..         .925926

 

 TABLE F(8.2), WITH INTEREST AT 8.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .980680      .971114      .964771

 

 1         2         .993454     .974261      .964757      .958455

 

 2         3         .986951     .967883      .958441

 

 3         4         .980490     .961547      .952167

 

 4         5         .974072     .955253

 

 5         6         .967695     .949000

 

 6         7         .961361     .942788

 

 7         8         .955068

 

 8         9         .948816

 

 9        10         .942605

 

 10       11         .936434

 

 11       12         .930304

 

 12       ..         .924214

 

 TABLE F(8.4), WITH INTEREST AT 8.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .980237      .970453      .963966

 

 1         2         .993301     .973670      .963952      .957509

 

 2         3         .986647     .967148      .957494

 

 3         4         .980037     .960669      .951080

 

 4         5         .973472     .954233

 

 5         6         .966951     .947841

 

 6         7         .960473     .941491

 

 7         8         .954039

 

 8         9         .947648

 

 9        10         .941300

 

 10       11         .934994

 

 11       12         .928731

 

 12       ..         .922509

 

 TABLE F(8.6), WITH INTEREST AT 8.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .979794      .969794      .963164

 

 1         2         .993148     .973081      .963149      .956565

 

 2         3         .986344     .966414      .956550

 

 3         4         .979586     .959793      .949996

 

 4         5         .972874     .953217

 

 5         6         .966209     .946686

 

 6         7         .959589     .940199

 

 7         8         .953014

 

 8         9         .946484

 

 9        10         .940000

 

 10       11         .933559

 

 11       12         .927163

 

 12       ..         .920810

 

 TABLE F(8.8), WITH INTEREST AT 8.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .979353      .969136      .962364

 

 1         2         .992996     .972494      .962349      .955624

 

 2         3         .986041     .965683      .955609

 

 3         4         .979135     .958919      .948916

 

 4         5         .972278     .952203

 

 5         6         .965468     .945534

 

 6         7         .958706     .938912

 

 7         8         .951992

 

 8         9         .945324

 

 9        10         .938703

 

 10       11         .932129

 

 11       12         .925600

 

 12       ..         .919118

 

 TABLE F(9.0), WITH INTEREST AT 9.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .978913      .968481      .961567

 

 1         2         .992844     .971908      .961551      .954686

 

 2         3         .985740     .964954      .954670

 

 3         4         .978686     .958049      .947839

 

 4         5         .971683     .951193

 

 5         6         .964730     .944387

 

 6         7         .957826     .937629

 

 7         8         .950972

 

 8         9         .944167

 

 9        10         .937411

 

 10       11         .930703

 

 11       12         .924043

 

 12       ..         .917431

 

 TABLE F(9.2), WITH INTEREST AT 9.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .978474      .967827      .960772

 

 1         2         .992693     .971324      .960755      .953752

 

 2         3         .985439     .964226      .953734

 

 3         4         .978238     .957180      .946765

 

 4         5         .971089     .950186

 

 5         6         .963993     .943242

 

 6         7         .956949     .936350

 

 7         8         .949956

 

 8         9         .943014

 

 9        10         .936123

 

 10       11         .929283

 

 11       12         .922492

 

 12       ..         .915751

 

 TABLE F(9.4), WITH INTEREST AT 9.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .978037      .967176      .959980

 

 1         2         .992541     .970742      .959962      .952820

 

 2         3         .985138     .963501      .952802

 

 3         4         .977790     .956315      .945695

 

 4         5         .970497     .949182

 

 5         6         .963258     .942102

 

 6         7         .956074     .935075

 

 7         8         .948942

 

 8         9         .941865

 

 9        10         .934839

 

 10       11         .927867

 

 11       12         .920946

 

 12       ..         .914077

 

 TABLE F(9.6), WITH INTEREST AT 9.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .977600      .966526      .959190

 

 1         2         .992390     .970161      .959171      .951890

 

 2         3         .984838     .962778      .951872

 

 3         4         .977344     .955452      .944628

 

 4         5         .969906     .948181

 

 5         6         .962526     .940965

 

 6         7         .955201     .933805

 

 7         8         .947932

 

 8         9         .940718

 

 9        10         .933560

 

 10       11         .926455

 

 11       12         .919405

 

 12       ..         .912409

 

 TABLE F(9.8), WITH INTEREST AT 9.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .977165      .965878      .958402

 

 1         2         .992239     .969582      .958382      .950964

 

 2         3         .984539     .962057      .950945

 

 3         4         .976898     .954591      .943565

 

 4         5         .969317     .947183

 

 5         6         .961795     .939832

 

 6         7         .954331     .932539

 

 7         8         .946924

 

 8         9         .939576

 

 9        10         .932284

 

 10       11         .925049

 

 11       12         .917870

 

 12       ..         .910747

 

 TABLE F(10.0), WITH INTEREST AT 10.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 ____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD         PERIOD    PERIOD

 

 ____________________________________________________________________

 

 ..        1        1.000000     .976731      .965232      .957616

 

 1         2         .992089     .969004      .957596      .950041

 

 2         3         .984240     .961338      .950021

 

 3         4         .976454     .953733      .942505

 

 4         5         .968729     .946188

 

 5         6         .961066     .938703

 

 6         7         .953463     .931277

 

 7         8         .945920

 

 8         9         .938436

 

 9        10         .931012

 

 10       11         .923647

 

 11       12         .916340

 

 12       ..         .909091

 

 _____________________________________________________________________

 

 TABLE F(10.2), WITH INTEREST AT 10.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .976298      .964588      .956833

 

 1         2         .991939     .968428      .956812      .949120

 

 2         3         .983943     .960622      .949099

 

 3         4         .976011     .952878      .941448

 

 4         5         .968143     .945196

 

 5         6         .960338     .937577

 

 6         7         .952597     .930019

 

 7         8         .944918

 

 8         9         .937301

 

 9        10         .929745

 

 10       11         .922250

 

 11       12         .914816

 

 12        ..        .907441

 

 TABLE F(10.4), WITH INTEREST AT 10.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .975867      .963946      .956052

 

 1         2         .991789     .967854      .956031      .948202

 

 2         3         .983645     .959907      .948181

 

 3         4         .975568     .952025      .940395

 

 4         5         .967558     .944208

 

 5         6         .959613     .936455

 

 6         7         .951734     .928765

 

 7         8         .943919

 

 8         9         .936168

 

 9        10         .928481

 

 10       11         .920858

 

 11       12         .913296

 

 12        ..        .905797

 

 TABLE F(10.6), WITH INTEREST AT 10.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .975436       .963305     .955274

 

 1         2         .991639     .967281       .955252     .947287

 

 2         3         .983349     .959194       .947265

 

 3         4         .975127     .951174       .939345

 

 4         5         .966974     .943222

 

 5         6         .958890     .935336

 

 6         7         .950873     .927516

 

 7         8         .942923

 

 8         9         .935039

 

 9        10         .927222

 

 10       11         .919470

 

 11       12         .911782

 

 12        ..        .904159

 

 TABLE F(10.8), WITH INTEREST AT 10.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .975007      .962667      .954498

 

 1         2         .991490     .966710      .954475      .946375

 

 2         3         .983052     .958483      .946352

 

 3         4         .974687     .950327      .938299

 

 4         5         .966392     .942239

 

 5         6         .958168     .934221

 

 6         7         .950014     .926271

 

 7         8         .941930

 

 8         9         .933914

 

 9        10         .925966

 

 10       11         .918086

 

 11       12         .910273

 

 12        ..        .902527

 

 TABLE F(11.0), WITH INTEREST AT 11.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .974579      .962030      .953724

 

 1         2         .991341     .966140      .953700      .945466

 

 2         3         .982757     .957774      .945442

 

 3         4         .974247     .949481      .937255

 

 4         5         .965811     .941260

 

 5         6         .957449     .933109

 

 6         7         .949158     .925029

 

 7         8         .940939

 

 8         9         .932792

 

 9        10         .924715

 

 10       11         .916708

 

 11       12         .908770

 

 12        ..        .900901

 

 TABLE F(11.2), WITH INTEREST AT 11.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .974152      .961395      .952952

 

 1         2         .991192     .965572      .952927      .944559

 

 2         3         .982462     .957068      .944534

 

 3         4         .973809     .948638      .936215

 

 4         5         .965232     .940283

 

 5         6         .956731     .932001

 

 6         7         .948304     .923792

 

 7         8         .939952

 

 8         9         .931673

 

 9        10         .923467

 

 10       11         .915333

 

 11       12         .907272

 

 12        ..        .899281

 

 TABLE F(11.4), WITH INTEREST AT 11.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .973726      .960762      .952183

 

 1         2         .991044     .965005      .952157      .943655

 

 2         3         .982168     .956363      .943630

 

 3         4         .973372     .947798      .935178

 

 4         5         .964654     .939309

 

 5         6         .956015     .930896

 

 6         7         .947452     .922559

 

 7         8         .938967

 

 8         9         .930557

 

 9        10         .922223

 

 10       11         .913964

 

 11       12         .905778

 

 12        ..        .897666

 

 TABLE F(11.6), WITH INTEREST AT 11.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .973302      .960130      .951416

 

 1         2         .990896     .964440      .951389      .942754

 

 2         3         .981874     .955660      .942728

 

 3         4         .972935     .946959      .934145

 

 4         5         .964077     .938338

 

 5         6         .955300     .929795

 

 6         7         .946603     .921330

 

 7         8         .937985

 

 8         9         .929445

 

 9        10         .920984

 

 10       11         .912599

 

 11       12         .904290

 

 12        ..        .896057

 

 TABLE F(11.8), WITH INTEREST AT 11.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .972878      .959501      .950651

 

 1         2         .990748     .963877      .950624      .941855

 

 2         3         .981582     .954959      .941828

 

 3         4         .972500     .946124      .933114

 

 4         5         .963502     .937370

 

 5         6         .954588     .928698

 

 6         7         .945756     .920105

 

 7         8         .937006

 

 8         9         .928337

 

 9        10         .919748

 

 10       11         .911238

 

 11       12         .902807

 

 12        ..        .894454

 

 TABLE F(12.0), WITH INTEREST AT 12.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .972456      .958873      .949888

 

 1         2         .990600     .963315      .949860      .940960

 

 2         3         .981289     .954260      .940932

 

 3         4         .972065     .945290      .932087

 

 4         5         .962928     .936405

 

 5         6         .953877     .927603

 

 6         7         .944911     .918884

 

 7         8         .936029

 

 8         9         .927231

 

 9        10         .918515

 

 10       11         .909882

 

 11       12         .901329

 

 12        ..        .892857

 

 TABLE F(12.2), WITH INTEREST AT 12.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD      PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .972034      .958247      .949128

 

 1         2         .990453     .962754      .949099      .940067

 

 2         3         .980997     .953563      .940038

 

 3         4         .971632     .944460      .931063

 

 4         5         .962356     .935443

 

 5         6         .953168     .926512

 

 6         7         .944069     .917667

 

 7         8         .935056

 

 8         9         .926129

 

 9        10         .917287

 

 10       11         .908530

 

 11       12         .899856

 

 12        ..        .891266

 

 TABLE F(12.4), WITH INTEREST AT 12.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD      PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .971614      .957623      .948370

 

 1         2         .990306     .962195      .948340      .939176

 

 2         3         .980706     .952868      .939147

 

 3         4         .971199     .943631      .930043

 

 4         5         .961785     .934484

 

 5         6         .952461     .925425

 

 6         7         .943228     .916454

 

 7         8         .934085

 

 8         9         .925030

 

 9        10         .916063

 

 10       11         .907183

 

 11       12         .898389

 

 12        ..        .889680

 

 TABLE F(12.6), WITH INTEREST AT 12.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .971195      .957000      .947614

 

 1         2         .990159     .961638      .947583      .938289

 

 2         3         .980416     .952175      .938258

 

 3         4         .970768     .942805      .929025

 

 4         5         .961215     .933527

 

 5         6         .951756     .924341

 

 6         7         .942390     .915245

 

 7         8         .933117

 

 8         9         .923934

 

 9        10         .914842

 

 10       11         .905840

 

 11       12         .896926

 

 12        ..        .888099

 

 TABLE F(12.8), WITH INTEREST AT 12.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .970777      .956379      .946860

 

 1         2         .990013     .961082      .946828      .937403

 

 2         3         .980126     .951484      .937372

 

 3         4         .970337     .941981      .928011

 

 4         5         .960647     .932574

 

 5         6         .951053     .923260

 

 6         7         .941554     .914040

 

 7         8         .932151

 

 8         9         .922842

 

 9        10         .913625

 

 10       11         .904501

 

 11       12         .895468

 

 12        ..        .886525

 

 TABLE F(13.0), WITH INTEREST AT 13.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD      PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .970360      .955760      .946108

 

 1         2         .989867     .960528      .946075      .936521

 

 2         3         .979836     .950795      .936489

 

 3         4         .969908     .941160      .926999

 

 4         5         .960079     .931623

 

 5         6         .950351     .922183

 

 6         7         .940721     .912838

 

 7         8         .931188

 

 8         9         .921753

 

 9        10         .912412

 

 10       11         .903167

 

 11       12         .894015

 

 12        ..        .884956

 

 TABLE F(13.2), WITH INTEREST AT 13.2 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD      PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .969945      .955143      .945359

 

 1         2         .989721     .959975      .945325      .935641

 

 2         3         .979548     .950107      .935608

 

 3         4         .969479     .940341      .925991

 

 4         5         .959514     .930675

 

 5         6         .949651     .921109

 

 6         7         .939889     .911641

 

 7         8         .930228

 

 8         9         .920667

 

 9        10         .911203

 

 10       11         .901837

 

 11       12         .892567

 

 12        ..        .883392

 

 TABLE F(13.4), WITH INTEREST AT 13.4 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .969530      .954527      .944611

 

 1         2         .989575     .959423      .944577      .934764

 

 2         3         .979260     .949422      .934730

 

 3         4         .969051     .939524      .924986

 

 4         5         .958949     .929730

 

 5         6         .948953     .920038

 

 6         7         .939060     .910447

 

 7         8         .929271

 

 8         9         .919584

 

 9        10         .909998

 

 10       11         .900511

 

 11       12         .891124

 

 12        ..        .881834

 

 TABLE F(13.6), WITH INTEREST AT 13.6 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL    QUARTERLY    MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .969117      .953913      .943866

 

 1         2         .989430     .958873      .943831      .933890

 

 2         3         .978972     .948738      .933854

 

 3         4         .968624     .938710      .923984

 

 4         5         .958386     .928788

 

 5         6         .948256     .918971

 

 6         7         .938233     .909257

 

 7         8         .928316

 

 8         9         .918504

 

 9        10         .908796

 

 10       11         .899190

 

 11       12         .889686

 

 12        ..        .880282

 

 TABLE F(13.8), WITH INTEREST AT 13.8 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .968704      .953301      .943123

 

 1         2         .989285     .958325      .943087      .933018

 

 2         3         .978685     .948056      .932982

 

 3         4         .968199     .937898      .922985

 

 4         5         .957824     .927849

 

 5         6         .947561     .917907

 

 6         7         .937408     .908072

 

 7         8         .927364

 

 8         9         .917428

 

 9        10         .907598

 

 10       11         .897873

 

 11       12         .888252

 

 12        ..        .878735

 

 TABLE F(14.0), WITH INTEREST AT 14.0 PERCENT, SHOWING FACTORS

 

 FOR COMPUTATION OF THE ADJUSTED PAYOUT RATE FOR CERTAIN

 

 VALUATIONS APPLICABLE AFTER APRIL 30, 1989

 

 1                                 2

 

 NUMBER OF MONTHS BY

 

 WHICH THE VALUATION

 

 DATE FOR THE FIRST FULL

 

 TAXABLE YEAR OF THE

 

 TRUST PRECEDES THE                    FACTORS FOR PAYOUT

 

 FIRST PAYOUT                       AT THE END OF EACH PERIOD

 

 _____________________________________________________________________

 

 AT       BUT         ANNUAL    SEMIANNUAL     QUARTERLY   MONTHLY

 

 LEAST   LESS THAN      PERIOD      PERIOD       PERIOD       PERIOD

 

 _____________________________________________________________________

 

 ..        1        1.000000     .968293      .952691      .942382

 

 1         2         .989140     .957778      .942345      .932148

 

 2         3         .978399     .947377      .932111

 

 3         4         .967774     .937088      .921989

 

 4         5         .957264     .926912

 

 5         6         .946868     .916846

 

 6         7         .936586     .906889

 

 7         8         .926415

 

 8         9         .916354

 

 9        10         .906403

 

 10       11         .896560

 

 11       12         .886824

 

 12        ..        .877193

 

 _____________________________________________________________________

 

 TABLE U(1)

 

 BASED ON LIFE TABLE 80CNSMT

 

 UNITRUST SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 ADJUSTED PAYOUT RATE

 

 AGE    4.2%      4.4%      4.6%      4.8%      5.0%

 

 0  .06797    .06181    .05645    .05177    .04768

 

 1  .05881    .05243    .04686    .04199    .03773

 

 2  .06049    .05394    .04821    .04319    .03880

 

 3  .06252    .05579    .04990    .04473    .04020

 

 4  .06479    .05788    .05182    .04650    .04183

 

 5  .06724    .06016    .05393    .04845    .04363

 

 6  .06984    .06257    .05618    .05054    .04557

 

 7  .07259    .06513    .05856    .05276    .04764

 

 8  .07548    .06784    .06109    .05513    .04985

 

 9  .07854    .07071    .06378    .05765    .05221

 

 10  .08176    .07374    .06663    .06033    .05473

 

 11  .08517    .07695    .06966    .06319    .05743

 

 12  .08872    .08031    .07284    .06619    .06026

 

 13  .09238    .08378    .07612    .06929    .06320

 

 14  .09608    .08728    .07943    .07243    .06616

 

 15  .09981    .09081    .08276    .07557    .06914

 

 16  .10356    .09435    .08612    .07874    .07213

 

 17  .10733    .09792    .08949    .08192    .07513

 

 18  .11117    .10155    .09291    .08515    .07817

 

 19  .11509    .10526    .09642    .08847    .08130

 

 20  .11913    .10908    .10003    .09188    .08452

 

 21  .12326    .11300    .10375    .09539    .08784

 

 22  .12753    .11705    .10758    .09902    .09127

 

 23  .13195    .12125    .11156    .10279    .09484

 

 24  .13655    .12563    .11573    .10675    .09860

 

 25  .14136    .13022    .12010    .11091    .10255

 

 26  .14640    .13504    .12471    .11530    .10674

 

 27  .15169    .14011    .12956    .11994    .11117

 

 28  .15721    .14542    .13465    .12482    .11583

 

 29  .16299    .15097    .13999    .12994    .12075

 

 30  .16901    .15678    .14559    .13533    .12592

 

 31  .17531    .16287    .15146    .14099    .13137

 

 32  .18186    .16921    .15759    .14691    .13709

 

 33  .18869    .17584    .16401    .15312    .14309

 

 34  .19578    .18273    .17070    .15961    .14937

 

 35  .20315    .18990    .17767    .16637    .15593

 

 36  .21076    .19732    .18490    .17340    .16276

 

 37  .21863    .20501    .19239    .18071    .16987

 

 38  .22676    .21296    .20016    .18828    .17725

 

 39  .23515    .22118    .20820    .19614    .18492

 

 40  .24379    .22967    .21652    .20428    .19288

 

 41  .25270    .23842    .22511    .21270    .20112

 

 42  .26184    .24742    .23395    .22137    .20962

 

 43  .27123    .25666    .24305    .23031    .21840

 

 44  .28085    .26616    .25241    .23952    .22745

 

 45  .29072    .27591    .26203    .24901    .23678

 

 46  .30082    .28591    .27191    .25875    .24639

 

 47  .31116    .29616    .28204    .26877    .25626

 

 48  .32171    .30663    .29241    .27902    .26640

 

 49  .33245    .31730    .30300    .28950    .27676

 

 50  .34338    .32816    .31379    .30020    .28735

 

 51  .35449    .33923    .32479    .31112    .29818

 

 52  .36582    .35053    .33603    .32230    .30927

 

 53  .37736    .36205    .34751    .33372    .32063

 

 54  .38909    .37376    .35921    .34537    .33221

 

 55  .40099    .38568    .37111    .35724    .34404

 

 56  .41308    .39779    .38322    .36934    .35610

 

 57  .42536    .41011    .39555    .38167    .36841

 

 58  .43781    .42262    .40810    .39422    .38096

 

 59  .45043    .43530    .42083    .40698    .39373

 

 60  .46318    .44813    .43372    .41992    .40668

 

 61  .47602    .46107    .44674    .43299    .41979

 

 62  .48893    .47410    .45986    .44617    .43303

 

 63  .50190    .48720    .47306    .45946    .44638

 

 64  .51494    .50038    .48636    .47286    .45986

 

 65  .52808    .51368    .49980    .48641    .47350

 

 66  .54134    .52711    .51338    .50013    .48733

 

 67  .55471    .54068    .52712    .51401    .50134

 

 68  .56820    .55437    .54100    .52805    .51552

 

 69  .58172    .56812    .55495    .54219    .52982

 

 70  .59526    .58190    .56894    .55637    .54417

 

 71  .60874    .59564    .58291    .57055    .55854

 

 72  .62218    .60934    .59685    .58471    .57291

 

 73  .63557    .62301    .61078    .59887    .58728

 

 74  .64896    .63669    .62472    .61307    .60171

 

 75  .66237    .65040    .63872    .62733    .61622

 

 76  .67581    .66416    .65279    .64168    .63083

 

 77  .68925    .67793    .66688    .65606    .64550

 

 78  .70263    .69166    .68093    .67044    .66016

 

 79  .71585    .70525    .69486    .68468    .67471

 

 80  .72885    .71860    .70856    .69872    .68906

 

 81  .74150    .73162    .72193    .71242    .70308

 

 82  .75376    .74425    .73490    .72572    .71671

 

 83  .76559    .75643    .74744    .73859    .72989

 

 84  .77700    .76821    .75955    .75104    .74266

 

 85  .78805    .77961    .77130    .76311    .75505

 

 86  .79866    .79056    .78258    .77472    .76697

 

 87  .80870    .80094    .79329    .78574    .77829

 

 88  .81825    .81081    .80348    .79623    .78908

 

 89  .82746    .82035    .81332    .80638    .79952

 

 90  .83643    .82963    .82291    .81627    .80971

 

 91  .84503    .83854    .83212    .82578    .81950

 

 92  .85308    .84689    .84076    .83470    .82870

 

 93  .86052    .85460    .84875    .84295    .83721

 

 94  .86729    .86163    .85602    .85046    .84496

 

 95  .87338    .86795    .86257    .85723    .85195

 

 96  .87877    .87354    .86836    .86323    .85814

 

 97  .88365    .87861    .87362    .86867    .86375

 

 98  .88805    .88318    .87835    .87356    .86880

 

 99  .89210    .88739    .88271    .87807    .87347

 

 100  .89588    .89131    .88678    .88227    .87780

 

 101  .89949    .89506    .89066    .88629    .88195

 

 102  .90325    .89897    .89471    .89047    .88627

 

 103  .90724    .90311    .89900    .89491    .89085

 

 104  .91167    .90770    .90376    .89983    .89593

 

 105  .91708    .91333    .90959    .90587    .90217

 

 106  .92470    .92126    .91782    .91440    .91100

 

 107  .93545    .93246    .92948    .92650    .92353

 

 108  .95239    .95016    .94792    .94569    .94346

 

 109  .97900    .97800    .97700    .97600    .97500

 

 (Table continued)

 

 AGE    5.2%      5.4%      5.6%      5.8%     6.0%

 

 0  .04410    .04096    .03820    .03578    .03364

 

 1  .03400    .03072    .02784    .02531    .02308

 

 2  .03494    .03155    .02856    .02593    .02361

 

 3  .03621    .03270    .02961    .02688    .02446

 

 4  .03771    .03408    .03087    .02804    .02553

 

 5  .03937    .03562    .03230    .02936    .02675

 

 6  .04117    .03729    .03385    .03080    .02809

 

 7  .04310    .03909    .03552    .03236    .02954

 

 8  .04517    .04102    .03733    .03405    .03113

 

 9  .04738    .04310    .03928    .03588    .03285

 

 10  .04976    .04533    .04138    .03786    .03471

 

 11  .05230    .04772    .04364    .04000    .03673

 

 12  .05498    .05026    .04604    .04227    .03889

 

 13  .05776    .05289    .04853    .04463    .04113

 

 14  .06056    .05554    .05104    .04701    .04338

 

 15  .06337    .05820    .05356    .04938    .04563

 

 16  .06619    .06086    .05607    .05176    .04787

 

 17  .06902    .06353    .05858    .05413    .05010

 

 18  .07189    .06623    .06113    .05652    .05236

 

 19  .07484    .06901    .06375    .05899    .05469

 

 20  .07788    .07188    .06645    .06154    .05708

 

 21  .08101    .07483    .06923    .06416    .05955

 

 22  .08426    .07789    .07212    .06688    .06212

 

 23  .08763    .08109    .07514    .06973    .06481

 

 24  .09119    .08446    .07833    .07274    .06766

 

 25  .09495    .08802    .08171    .07595    .07069

 

 26  .09893    .09181    .08531    .07937    .07394

 

 27  .10316    .09584    .08915    .08302    .07742

 

 28  .10762    .10010    .09322    .08691    .08112

 

 29  .11233    .10461    .09753    .09104    .08507

 

 30  .11729    .10937    .10210    .09541    .08926

 

 31  .12254    .11441    .10694    .10006    .09372

 

 32  .12804    .11972    .11205    .10497    .09844

 

 33  .13384    .12531    .11744    .11017    .10345

 

 34  .13992    .13119    .12312    .11565    .10874

 

 35  .14628    .13735    .12908    .12142    .11431

 

 36  .15291    .14377    .13531    .12745    .12016

 

 37  .15982    .15049    .14182    .13377    .12628

 

 38  .16701    .15748    .14862    .14037    .13269

 

 39  .17448    .16476    .15571    .14727    .13940

 

 40  .18225    .17234    .16310    .15447    .14641

 

 41  .19031    .18021    .17078    .16197    .15372

 

 42  .19864    .18836    .17875    .16975    .16132

 

 43  .20724    .19679    .18700    .17782    .16921

 

 44  .21613    .20551    .19554    .18618    .17739

 

 45  .22530    .21452    .20438    .19485    .18589

 

 46  .23476    .22381    .21352    .20382    .19468

 

 47  .24449    .23340    .22295    .21309    .20379

 

 48  .25449    .24326    .23265    .22264    .21318

 

 49  .26473    .25336    .24262    .23246    .22285

 

 50  .27521    .26371    .25283    .24253    .23277

 

 51  .28593    .27431    .26331    .25287    .24297

 

 52  .29692    .28520    .27408    .26352    .25349

 

 53  .30819    .29637    .28514    .27446    .26431

 

 54  .31970    .30780    .29647    .28569    .27542

 

 55  .33146    .31949    .30807    .29719    .28681

 

 56  .34348    .33143    .31994    .30898    .29851

 

 57  .35575    .34366    .33210    .32106    .31051

 

 58  .36828    .35615    .34454    .33344    .32281

 

 59  .38104    .36888    .35724    .34609    .33540

 

 60  .39400    .38183    .37017    .35898    .34824

 

 61  .40713    .39497    .38329    .37207    .36129

 

 62  .42039    .40825    .39657    .38534    .37454

 

 63  .43379    .42168    .41001    .39878    .38796

 

 64  .44733    .43526    .42362    .41240    .40158

 

 65  .46104    .44903    .43743    .42624    .41544

 

 66  .47496    .46302    .45148    .44033    .42956

 

 67  .48908    .47723    .46577    .45467    .44394

 

 68  .50339    .49165    .48027    .46925    .45858

 

 69  .51783    .50620    .49494    .48401    .47341

 

 70  .53234    .52086    .50971    .49889    .48838

 

 71  .54687    .53554    .52453    .51382    .50342

 

 72  .56143    .55026    .53939    .52882    .51854

 

 73  .57600    .56501    .55431    .54389    .53373

 

 74  .59064    .57985    .56932    .55906    .54906

 

 75  .60538    .59480    .58447    .57439    .56455

 

 76  .62023    .60988    .59977    .58989    .58023

 

 77  .63516    .62506    .61517    .60551    .59605

 

 78  .65010    .64026    .63062    .62119    .61195

 

 79  .66495    .65538    .64600    .63681    .62780

 

 80  .67959    .67031    .66120    .65227    .64350

 

 81  .69392    .68492    .67609    .66742    .65890

 

 82  .70785    .69915    .69059    .68219    .67393

 

 83  .72134    .71293    .70466    .69652    .68852

 

 84  .73441    .72629    .71831    .71044    .70270

 

 85  .74711    .73929    .73158    .72399    .71652

 

 86  .75933    .75180    .74438    .73707    .72985

 

 87  .77095    .76370    .75656    .74951    .74255

 

 88  .78202    .77506    .76818    .76139    .75469

 

 89  .79275    .78606    .77945    .77292    .76647

 

 90  .80322    .79681    .79047    .78420    .77801

 

 91  .81330    .80716    .80109    .79509    .78915

 

 92  .82276    .81689    .81107    .80532    .79963

 

 93  .83152    .82590    .82033    .81481    .80935

 

 94  .83951    .83412    .82877    .82348    .81823

 

 95  .84672    .84153    .83639    .83129    .82624

 

 96  .85309    .84809    .84313    .83822    .83334

 

 97  .85888    .85405    .84926    .84450    .83979

 

 98  .86409    .85941    .85477    .85016    .84559

 

 99  .86890    .86436    .85986    .85539    .85095

 

 100  .87337    .86896    .86459    .86024    .85593

 

 101  .87764    .87336    .86911    .86488    .86069

 

 102  .88209    .87794    .87381    .86971    .86564

 

 103  .88681    .88279    .87880    .87484    .87089

 

 104  .89205    .88819    .88435    .88053    .87673

 

 105  .89848    .89481    .89116    .88752    .88391

 

 106  .90760    .90422    .90085    .89749    .89414

 

 107  .92057    .91762    .91467    .91173    .90880

 

 108  .94123    .93900    .93678    .93456    .93234

 

 109  .97400    .97300    .97200    .97100    .97000

 

 AGE     6.2%     6.4%      6.6%      6.8%      7.0%

 

 0  .03176    .03009    .02861    .02730    .02613

 

 1  .02110    .01936    .01781    .01644    .01522

 

 2  .02156    .01974    .01812    .01669    .01541

 

 3  .02233    .02043    .01875    .01725    .01591

 

 4  .02330    .02132    .01956    .01800    .01660

 

 5  .02443    .02237    .02054    .01890    .01743

 

 6  .02568    .02353    .02162    .01990    .01837

 

 7  .02704    .02480    .02280    .02102    .01941

 

 8  .02852    .02619    .02411    .02224    .02057

 

 9  .03014    .02772    .02554    .02360    .02184

 

 10  .03190    .02938    .02711    .02508    .02325

 

 11  .03381    .03119    .02883    .02672    .02481

 

 12  .03585    .03313    .03068    .02847    .02648

 

 13  .03798    .03515    .03260    .03030    .02822

 

 14  .04012    .03718    .03453    .03213    .02997

 

 15  .04225    .03919    .03644    .03395    .03169

 

 16  .04436    .04120    .03833    .03574    .03339

 

 17  .04647    .04319    .04021    .03752    .03507

 

 18  .04860    .04519    .04210    .03930    .03675

 

 19  .05079    .04725    .04404    .04113    .03847

 

 20  .05304    .04938    .04604    .04301    .04025

 

 21  .05537    .05157    .04811    .04495    .04208

 

 22  .05779    .05385    .05025    .04698    .04398

 

 23  .06032    .05623    .05250    .04910    .04598

 

 24  .06302    .05878    .05491    .05136    .04812

 

 25  .06589    .06150    .05748    .05380    .05042

 

 26  .06897    .06442    .06025    .05643    .05292

 

 27  .07228    .06757    .06325    .05928    .05563

 

 28  .07582    .07094    .06646    .06234    .05854

 

 29  .07958    .07454    .06990    .06562    .06167

 

 30  .08360    .07838    .07357    .06913    .06504

 

 31  .08788    .08249    .07751    .07291    .06866

 

 32  .09242    .08685    .08170    .07694    .07252

 

 33  .09724    .09149    .08617    .08124    .07666

 

 34  .10234    .09641    .09091    .08581    .08107

 

 35  .10773    .10161    .09594    .09066    .08575

 

 36  .11338    .10708    .10122    .09577    .09070

 

 37  .11932    .11283    .10680    .10117    .09592

 

 38  .12554    .11887    .11265    .10685    .10142

 

 39  .13206    .12521    .11880    .11282    .10722

 

 40  .13888    .13184    .12526    .11909    .11332

 

 41  .14601    .13878    .13201    .12567    .11972

 

 42  .15342    .14601    .13906    .13254    .12641

 

 43  .16112    .15353    .14640    .13970    .13340

 

 44  .16913    .16136    .15406    .14718    .14070

 

 45  .17745    .16951    .16202    .15497    .14832

 

 46  .18608    .17796    .17030    .16308    .15625

 

 47  .19501    .18673    .17890    .17150    .16451

 

 48  .20425    .19579    .18780    .18024    .17308

 

 49  .21375    .20514    .19698    .18926    .18193

 

 50  .22352    .21476    .20644    .19856    .19107

 

 51  .23358    .22467    .21620    .20816    .20051

 

 52  .24396    .23490    .22628    .21809    .21030

 

 53  .25465    .24545    .23670    .22836    .22042

 

 54  .26563    .25631    .24742    .23895    .23086

 

 55  .27692    .26747    .25846    .24986    .24164

 

 56  .28850    .27895    .26982    .26109    .25275

 

 57  .30041    .29076    .28152    .27267    .26421

 

 58  .31263    .30288    .29355    .28460    .27602

 

 59  .32515    .31532    .30590    .29685    .28817

 

 60  .33793    .32803    .31853    .30940    .30062

 

 61  .35093    .34098    .33141    .32220    .31335

 

 62  .36414    .35414    .34451    .33524    .32631

 

 63  .37754    .36750    .35783    .34850    .33951

 

 64  .39115    .38108    .37137    .36200    .35296

 

 65  .40500    .39493    .38519    .37579    .36670

 

 66  .41914    .40906    .39932    .38990    .38079

 

 67  .43355    .42350    .41376    .40434    .39521

 

 68  .44824    .43822    .42851    .41909    .40996

 

 69  .46313    .45316    .44348    .43409    .42498

 

 70  .47818    .46827    .45864    .44929    .44020

 

 71  .49331    .48348    .47391    .46461    .45557

 

 72  .50853    .49879    .48930    .48007    .47108

 

 73  .52384    .51421    .50482    .49566    .48674

 

 74  .53930    .52979    .52050    .51145    .50261

 

 75  .55495    .54557    .53641    .52747    .51873

 

 76  .57079    .56157    .55256    .54374    .53513

 

 77  .58680    .57775    .56890    .56024    .55176

 

 78  .60291    .59405    .58537    .57687    .56855

 

 79  .61898    .61032    .60184    .59353    .58537

 

 80  .63491    .62647    .61819    .61007    .60210

 

 81  .65054    .64234    .63427    .62636    .61858

 

 82  .66582    .65784    .65000    .64229    .63472

 

 83  .68065    .67291    .66530    .65781    .65044

 

 84  .69508    .68758    .68020    .67293    .66577

 

 85  .70915    .70190    .69475    .68770    .68076

 

 86  .72274    .71573    .70882    .70200    .69528

 

 87  .73569    .72892    .72224    .71565    .70915

 

 88  .74807    .74154    .73509    .72872    .72243

 

 89  .76010    .75381    .74759    .74144    .73537

 

 90  .77189    .76584    .75985    .75394    .74809

 

 91  .78327    .77746    .77171    .76603    .76040

 

 92  .79399    .78841    .78289    .77743    .77202

 

 93  .80394    .79858    .79328    .78803    .78283

 

 94  .81303    .80788    .80278    .79773    .79272

 

 95  .82124    .81628    .81136    .80649    .80166

 

 96  .82851    .82372    .81897    .81426    .80959

 

 97  .83512    .83048    .82588    .82132    .81679

 

 98  .84106    .83656    .83210    .82767    .82328

 

 99  .84655    .84218    .83785    .83354    .82927

 

 100  .85165    .84740    .84318    .83899    .83483

 

 101  .85652    .85238    .84827    .84419    .84013

 

 102  .86159    .85757    .85358    .84960    .84566

 

 103  .86697    .86307    .85920    .85535    .85152

 

 104  .87295    .86919    .86544    .86172    .85802

 

 105  .88030    .87672    .87315    .86959    .86605

 

 106  .89081    .88749    .88418    .88088    .87760

 

 107  .90588    .90296    .90005    .89715    .89425

 

 108  .93013    .92791    .92570    .92350    .92129

 

 109  .96900    .96800    .96700    .96600    .96500

 

 (Table continued)

 

 AGE    7.2%      7.4%      7.6%      7.8%      8.0%

 

 0  .02509    .02416    .02333    .02258    .02191

 

 1  .01413    .01316    .01229    .01150    .01080

 

 2  .01427    .01325    .01234    .01152    .01078

 

 3  .01471    .01364    .01268    .01182    .01105

 

 4  .01535    .01422    .01322    .01231    .01149

 

 5  .01612    .01494    .01389    .01293    .01208

 

 6  .01700    .01576    .01465    .01365    .01275

 

 7  .01798    .01668    .01552    .01446    .01351

 

 8  .01906    .01770    .01648    .01537    .01437

 

 9  .02027    .01885    .01756    .01640    .01535

 

 10  .02160    .02012    .01877    .01755    .01645

 

 11  .02308    .02153    .02012    .01884    .01768

 

 12  .02468    .02305    .02157    .02023    .01902

 

 13  .02635    .02464    .02310    .02170    .02042

 

 14  .02801    .02623    .02462    .02315    .02181

 

 15  .02965    .02779    .02611    .02457    .02317

 

 16  .03126    .02932    .02756    .02595    .02449

 

 17  .03285    .03082    .02898    .02730    .02577

 

 18  .03443    .03232    .03040    .02864    .02703

 

 19  .03606    .03386    .03185    .03001    .02833

 

 20  .03773    .03543    .03333    .03141    .02965

 

 21  .03945    .03705    .03486    .03285    .03101

 

 22  .04125    .03874    .03645    .03435    .03242

 

 23  .04313    .04052    .03812    .03592    .03390

 

 24  .04515    .04242    .03992    .03762    .03550

 

 25  .04733    .04448    .04187    .03946    .03725

 

 26  .04969    .04673    .04400    .04148    .03916

 

 27  .05227    .04917    .04632    .04369    .04126

 

 28  .05504    .05182    .04884    .04609    .04355

 

 29  .05804    .05468    .05157    .04870    .04604

 

 30  .06125    .05775    .05452    .05152    .04874

 

 31  .06472    .06108    .05771    .05457    .05167

 

 32  .06844    .06465    .06113    .05786    .05483

 

 33  .07242    .06848    .06482    .06141    .05824

 

 34  .07667    .07257    .06876    .06521    .06191

 

 35  .08119    .07694    .07298    .06928    .06583

 

 36  .08597    .08156    .07744    .07360    .07001

 

 37  .09102    .08645    .08217    .07818    .07444

 

 38  .09636    .09162    .08719    .08304    .07915

 

 39  .10198    .09708    .09249    .08818    .08414

 

 40  .10791    .10284    .09808    .09361    .08942

 

 41  .11414    .10890    .10398    .09935    .09499

 

 42  .12066    .11525    .11016    .10537    .10086

 

 43  .12747    .12189    .11663    .11168    .10701

 

 44  .13460    .12885    .12342    .11830    .11347

 

 45  .14204    .13612    .13053    .12525    .12025

 

 46  .14981    .14372    .13796    .13251    .12735

 

 47  .15790    .15164    .14571    .14010    .13478

 

 48  .16630    .15987    .15378    .14800    .14252

 

 49  .17499    .16840    .16214    .15620    .15056

 

 50  .18396    .17721    .17080    .16470    .15890

 

 51  .19325    .18634    .17976    .17350    .16755

 

 52  .20288    .19581    .18908    .18267    .17655

 

 53  .21285    .20563    .19875    .19218    .18592

 

 54  .22315    .21579    .20876    .20204    .19562

 

 55  .23379    .22628    .21911    .21225    .20568

 

 56  .24476    .23712    .22981    .22281    .21611

 

 57  .25610    .24833    .24089    .23376    .22691

 

 58  .26780    .25991    .25234    .24508    .23811

 

 59  .27984    .27184    .26416    .25677    .24968

 

 60  .29219    .28409    .27630    .26880    .26159

 

 61  .30483    .29663    .28873    .28113    .27381

 

 62  .31771    .30942    .30144    .29374    .28631

 

 63  .33084    .32247    .31440    .30661    .29910

 

 64  .34422    .33579    .32765    .31978    .31217

 

 65  .35792    .34943    .34122    .33328    .32560

 

 66  .37197    .36343    .35517    .34717    .33943

 

 67  .38636    .37780    .36950    .36145    .35365

 

 68  .40111    .39252    .38419    .37611    .36827

 

 69  .41613    .40754    .39919    .39109    .38322

 

 70  .43137    .42279    .41445    .40634    .39845

 

 71  .44677    .43821    .42988    .42177    .41388

 

 72  .46233    .45380    .44550    .43741    .42952

 

 73  .47805    .46957    .46130    .45324    .44538

 

 74  .49399    .48557    .47736    .46934    .46152

 

 75  .51020    .50187    .49372    .48577    .47799

 

 76  .52670    .51847    .51041    .50253    .49483

 

 77  .54346    .53534    .52739    .51960    .51198

 

 78  .56040    .55241    .54458    .53691    .52940

 

 79  .57738    .56954    .56185    .55431    .54691

 

 80  .59428    .58660    .57907    .57167    .56441

 

 81  .61094    .60344    .59606    .58882    .58170

 

 82  .62727    .61994    .61274    .60566    .59870

 

 83  .64319    .63605    .62903    .62212    .61532

 

 84  .65872    .65178    .64495    .63821    .63158

 

 85  .67392    .66718    .66054    .65399    .64754

 

 86  .68865    .68212    .67567    .66931    .66304

 

 87  .70273    .69639    .69014    .68397    .67788

 

 88  .71622    .71009    .70403    .69805    .69214

 

 89  .72937    .72344    .71758    .71179    .70607

 

 90  .74230    .73659    .73093    .72534    .71981

 

 91  .75484    .74933    .74388    .73850    .73316

 

 92  .76667    .76137    .75613    .75093    .74579

 

 93  .77768    .77258    .76753    .76252    .75757

 

 94  .78776    .78284    .77797    .77315    .76837

 

 95  .79687    .79213    .78742    .78276    .77814

 

 96  .80496    .80036    .79581    .79129    .78682

 

 97  .81230    .80785    .80343    .79905    .79471

 

 98  .81892    .81459    .81030    .80604    .80181

 

 99  .82503    .82082    .81664    .81249    .80837

 

 100  .83070    .82660   .82252     .81848    .81446

 

 101  .83611    .83210   .82813     .82418    .82026

 

 102  .84174    .83784   .83397     .83012    .82630

 

 103  .84771    .84392   .84016     .83642    .83270

 

 104  .85434    .85068   .84704     .84341    .83981

 

 105  .86253    .85903   .85554     .85207    .84861

 

 106  .87433    .87106   .86782     .86458    .86135

 

 107  .89137    .88849   .88561     .88275    .87989

 

 108  .91909    .91689   .91469     .91250    .91031

 

 109  .96400    .96300   .96200     .96100    .96000

 

 AGE    8.2%      8.4%      8.6%      8.8%      9.0%

 

 0  .02130    .02075    .02025    .01980    .01939

 

 1  .01017    .00960    .00908    .00861    .00819

 

 2  .01011    .00951    .00897    .00848    .00803

 

 3  .01035    .00971    .00914    .00862    .00815

 

 4  .01076    .01009    .00948    .00894    .00843

 

 5  .01130    .01059    .00996    .00938    .00885

 

 6  .01193    .01119    .01051    .00990    .00934

 

 7  .01265    .01187    .01116    .01051    .00992

 

 8  .01347    .01264    .01189    .01121    .01058

 

 9  .01440    .01353    .01274    .01201    .01135

 

 10  .01544    .01453    .01369    .01293    .01223

 

 11  .01662    .01566    .01478    .01398    .01324

 

 12  .01791    .01690    .01597    .01513    .01435

 

 13  .01926    .01820    .01722    .01634    .01552

 

 14  .02059    .01948    .01846    .01752    .01667

 

 15  .02189    .02072    .01965    .01867    .01777

 

 16  .02315    .02192    .02080    .01977    .01882

 

 17  .02436    .02308    .02190    .02082    .01982

 

 18  .02556    .02422    .02298    .02184    .02080

 

 19  .02679    .02537    .02408    .02288    .02178

 

 20  .02804    .02656    .02519    .02394    .02278

 

 21  .02932    .02776    .02633    .02501    .02380

 

 22  .03065    .02902    .02751    .02613    .02485

 

 23  .03204    .03033    .02876    .02730    .02595

 

 24  .03356    .03176    .03010    .02857    .02716

 

 25  .03520    .03332    .03158    .02997    .02848

 

 26  .03702    .03504    .03321    .03152    .02995

 

 27  .03902    .03695    .03502    .03324    .03159

 

 28  .04120    .03902    .03700    .03513    .03339

 

 29  .04358    .04129    .03917    .03720    .03537

 

 30  .04616    .04376    .04154    .03947    .03754

 

 31  .04897    .04646    .04413    .04195    .03993

 

 32  .05200    .04938    .04693    .04465    .04252

 

 33  .05529    .05254    .04998    .04758    .04534

 

 34  .05883    .05595    .05326    .05075    .04840

 

 35  .06262    .05961    .05680    .05417    .05170

 

 36  .06665    .06351    .06057    .05781    .05523

 

 37  .07094    .06766    .06459    .06171    .05900

 

 38  .07550    .07208    .06888    .06586    .06303

 

 39  .08034    .07678    .07344    .07029    .06733

 

 40  .08547    .08177    .07828    .07499    .07190

 

 41  .09090    .08704    .08341    .07998    .07675

 

 42  .09661    .09260    .08882    .08525    .08188

 

 43  .10260    .09844    .09451    .09080    .08729

 

 44  .10891    .10459    .10051    .09666    .09300

 

 45  .11553    .11106    .10683    .10282    .09902

 

 46  .12247    .11784    .11346    .10930    .10536

 

 47  .12974    .12496    .12042    .11611    .11202

 

 48  .13732    .13238    .12769    .12323    .11899

 

 49  .14520    .14011    .13526    .13064    .12625

 

 50  .15338    .14812    .14312    .13836    .13381

 

 51  .16187    .15646    .15130    .14639    .14169

 

 52  .17072    .16516    .15985    .15478    .14993

 

 53  .17993    .17422    .16876    .16353    .15854

 

 54  .18949    .18362    .17801    .17264    .16750

 

 55  .19940    .19339    .18763    .18212    .17683

 

 56  .20968    .20353    .19762    .19196    .18654

 

 57  .22035    .21406    .20802    .20222    .19665

 

 58  .23142    .22499    .21881    .21287    .20717

 

 59  .24286    .23630    .23000    .22393    .21809

 

 60  .25465    .24797    .24154    .23534    .22938

 

 61  .26676    .25996    .25341    .24710    .24101

 

 62  .27916    .27225    .26559    .25916    .25295

 

 63  .29184    .28483    .27806    .27152    .26520

 

 64  .30483    .29772    .29085    .28421    .27779

 

 65  .31817    .31098    .30402    .29729    .29076

 

 66  .33192    .32466    .31762    .31079    .30418

 

 67  .34609    .33876    .33164    .32474    .31805

 

 68  .36066    .35328    .34610    .33914    .33238

 

 69  .37558    .36815    .36093    .35391    .34709

 

 70  .39078    .38332    .37606    .36900    .36213

 

 71  .40620    .39872    .39144    .38435    .37744

 

 72  .42184    .41435    .40706    .39994    .39301

 

 73  .43771    .43023    .42293    .41581    .40886

 

 74  .45387    .44641    .43912    .43201    .42505

 

 75  .47039    .46296    .45570    .44861    .44167

 

 76  .48729    .47991    .47269    .46563    .45872

 

 77  .50452    .49722    .49006    .48305    .47619

 

 78  .52203    .51481    .50773    .50079    .49399

 

 79  .53966    .53254    .52556    .51870    .51198

 

 80  .55728    .55028    .54340    .53665    .53002

 

 81  .57471    .56784    .56109    .55445    .54792

 

 82  .59186    .58512    .57850    .57199    .56558

 

 83  .60863    .60204    .59556    .58918    .58289

 

 84  .62505    .61862    .61228    .60604    .59989

 

 85  .64118    .63491    .62873    .62263    .61663

 

 86  .65685    .65075    .64473    .63879    .63294

 

 87  .67187    .66594    .66008    .65430    .64859

 

 88  .68631    .68054    .67485    .66923    .66367

 

 89  .70042    .69483    .68930    .68384    .67845

 

 90  .71434    .70894    .70359    .69830    .69307

 

 91  .72789    .72266    .71750    .71239    .70733

 

 92  .74070    .73567    .73068    .72574    .72085

 

 93  .75266    .74780    .74298    .73821    .73348

 

 94  .76363    .75893    .75428    .74967    .74510

 

 95  .77356    .76901    .76451    .76005    .75562

 

 96  .78237    .77797    .77360    .76927    .76497

 

 97  .79039    .78612    .78187    .77766    .77348

 

 98  .79762    .79345    .78932    .78522    .78115

 

 99  .80429    .80023    .79620    .79220    .78823

 

 100  .81047    .80651    .80258    .79867    .79479

 

 101  .81636    .81249    .80865    .80483    .80104

 

 102  .82250    .81872    .81497    .81124    .80754

 

 103  .82900    .82532    .82167    .81804    .81442

 

 104  .83622    .83266    .82911    .82558    .82207

 

 105  .84517    .84174    .83833    .83494    .83156

 

 106  .85814    .85494    .85175    .84857    .84540

 

 107  .87704    .87420    .87136    .86853    .86571

 

 108  .90812    .90593    .90375    .90156    .89939

 

 109  .95900    .95800    .95700    .95600    .95500

 

 (Table continued)

 

 AGE    9.2%     9.4%       9.6%      9.8%     10.0%

 

 0  .01901    .01867    .01835    .01806    .01779

 

 1  .00780    .00745    .00712    .00683    .00655

 

 2  .00762    .00725    .00690    .00659    .00630

 

 3  .00771    .00732    .00696    .00663    .00632

 

 4  .00798    .00756    .00718    .00683    .00650

 

 5  .00836    .00792    .00752    .00714    .00680

 

 6  .00883    .00836    .00793    .00754    .00717

 

 7  .00938    .00888    .00842    .00800    .00762

 

 8  .01001    .00948    .00900    .00856    .00815

 

 9  .01075    .01019    .00968    .00921    .00877

 

 10  .01159    .01101    .01046    .00997    .00950

 

 11  .01257    .01195    .01137    .01085    .01036

 

 12  .01364    .01298    .01238    .01182    .01131

 

 13  .01477    .01408    .01344    .01285    .01231

 

 14  .01588    .01515    .01448    .01386    .01328

 

 15  .01694    .01617    .01547    .01481    .01421

 

 16  .01795    .01714    .01640    .01572    .01508

 

 17  .01891    .01806    .01728    .01656    .01589

 

 18  .01983    .01894    .01812    .01736    .01665

 

 19  .02077    .01983    .01897    .01817    .01742

 

 20  .02172    .02073    .01982    .01898    .01819

 

 21  .02268    .02164    .02068    .01979    .01896

 

 22  .02367    .02258    .02157    .02063    .01976

 

 23  .02471    .02356    .02249    .02150    .02058

 

 24  .02585    .02463    .02351    .02246    .02149

 

 25  .02710    .02582    .02463    .02352    .02249

 

 26  .02850    .02714    .02589    .02472    .02363

 

 27  .03006    .02863    .02730    .02607    .02492

 

 28  .03178    .03027    .02887    .02757    .02635

 

 29  .03367    .03208    .03061    .02923    .02794

 

 30  .03575    .03408    .03251    .03106    .02969

 

 31  .03804    .03627    .03463    .03309    .03165

 

 32  .04053    .03867    .03693    .03531    .03378

 

 33  .04325    .04130    .03946    .03775    .03614

 

 34  .04620    .04414    .04221    .04040    .03870

 

 35  .04939    .04723    .04520    .04329    .04149

 

 36  .05280    .05053    .04839    .04638    .04449

 

 37  .05646    .05407    .05182    .04971    .04771

 

 38  .06037    .05786    .05550    .05327    .05118

 

 39  .06454    .06191    .05943    .05709    .05489

 

 40  .06898    .06623    .06363    .06118    .05886

 

 41  .07371    .07083    .06811    .06553    .06310

 

 42  .07870    .07569    .07284    .07015    .06760

 

 43  .08397    .08083    .07785    .07503    .07236

 

 44  .08954    .08626    .08316    .08021    .07741

 

 45  .09542    .09201    .08876    .08568    .08276

 

 46  .10161    .09806    .09468    .09146    .08841

 

 47  .10813    .10443    .10091    .09756    .09438

 

 48  .11495    .11111    .10745    .10397    .10065

 

 49  .12207    .11809    .11429    .11066    .10721

 

 50  .12948    .12535    .12141    .11765    .11405

 

 51  .13721    .13294    .12885    .12495    .12121

 

 52  .14531    .14088    .13665    .13261    .12873

 

 53  .15377    .14920    .14482    .14064    .13662

 

 54  .16258    .15787    .15335    .14902    .14486

 

 55  .17176    .16690    .16224    .15777    .15348

 

 56  .18132    .17632    .17152    .16691    .16247

 

 57  .19129    .18615    .18121    .17646    .17189

 

 58  .20168    .19640    .19132    .18643    .18172

 

 59  .21247    .20705    .20184    .19682    .19198

 

 60  .22363    .21808    .21274    .20759    .20262

 

 61  .23513    .22946    .22399    .21871    .21361

 

 62  .24695    .24117    .23557    .23017    .22495

 

 63  .25909    .25319    .24748    .24196    .23661

 

 64  .27157    .26555    .25973    .25409    .24863

 

 65  .28444    .27832    .27240    .26665    .26108

 

 66  .29777    .29155    .28552    .27968    .27400

 

 67  .31156    .30525    .29913    .29319    .28742

 

 68  .32581    .31943    .31323    .30720    .30134

 

 69  .34045    .33400    .32773    .32163    .31569

 

 70  .35545    .34894    .34260    .33643    .33042

 

 71  .37071    .36415    .35776    .35153    .34547

 

 72  .38625    .37965    .37322    .36694    .36082

 

 73  .40207    .39545    .38899    .38267    .37651

 

 74  .41826    .41163    .40514    .39881    .39261

 

 75  .43488    .42824    .42175    .41541    .40920

 

 76  .45196    .44534    .43886    .43251    .42630

 

 77  .46946    .46287    .45642    .45009    .44389

 

 78  .48732    .48078    .47437    .46808    .46191

 

 79  .50538    .49891    .49255    .48632    .48019

 

 80  .52351    .51712    .51083    .50466    .49860

 

 81  .54151    .53521    .52901    .52292    .51692

 

 82  .55927    .55307    .54697    .54097    .53506

 

 83  .57671    .57062    .56462    .55872    .55290

 

 84  .59383    .58786    .58198    .57618    .57047

 

 85  .61070    .60486    .59911    .59343    .58783

 

 86  .62716    .62145    .61583    .61027    .60479

 

 87  .64296    .63739    .63190    .62647    .62112

 

 88  .65818    .65276    .64740    .64211    .63688

 

 89  .67311    .66784    .66262    .65747    .65237

 

 90  .68790    .68278    .67772    .67271    .66775

 

 91  .70232    .69736    .69246    .68760    .68280

 

 92  .71601    .71121    .70647    .70176    .69711

 

 93  .72880    .72417    .71957    .71502    .71051

 

 94  .74057    .73608    .73163    .72722    .72285

 

 95  .75123    .74688    .74257    .73829    .73405

 

 96  .76071    .75648    .75229    .74813    .74401

 

 97  .76934    .76523    .76115    .75710    .75308

 

 98  .77711    .77310    .76913    .76518    .76126

 

 99  .78429    .78038    .77649    .77264    .76881

 

 100  .79094    .78712    .78332    .77955    .77580

 

 101  .79727    .79352    .78981    .78611    .78244

 

 102  .80386    .80020    .79656    .79295    .78936

 

 103  .81083    .80726    .80371    .80018    .79667

 

 104  .81858    .81510    .81165    .80821    .80479

 

 105  .82819    .82485    .82151    .81820    .81489

 

 106  .84225    .83911    .83598    .83286    .82975

 

 107  .86290    .86009    .85729    .85450    .85171

 

 108  .89721    .89504    .89286    .89070    .88853

 

 109  .95400    .95300    .95200    .95100    .95000

 

 AGE   10.2%     10.4%     10.6%     10.8%     11.0%

 

 0  .01754    .01731    .01710    .01690    .01671

 

 1  .00630    .00607    .00585    .00565    .00547

 

 2  .00604    .00579    .00557    .00536    .00516

 

 3  .00604    .00578    .00554    .00532    .00511

 

 4  .00621    .00593    .00568    .00544    .00522

 

 5  .00648    .00619    .00592    .00567    .00544

 

 6  .00684    .00653    .00624    .00597    .00572

 

 7  .00726    .00693    .00663    .00634    .00608

 

 8  .00777    .00742    .00709    .00679    .00651

 

 9  .00837    .00800    .00765    .00733    .00703

 

 10  .00908    .00868    .00832    .00797    .00765

 

 11  .00991    .00949    .00910    .00874    .00840

 

 12  .01083    .01039    .00997    .00959    .00923

 

 13  .01181    .01134    .01090    .01049    .01012

 

 14  .01275    .01226    .01180    .01137    .01097

 

 15  .01365    .01313    .01264    .01219    .01177

 

 16  .01449    .01394    .01343    .01295    .01251

 

 17  .01526    .01469    .01415    .01365    .01318

 

 18  .01600    .01539    .01482    .01430    .01380

 

 19  .01673    .01609    .01550    .01494    .01442

 

 20  .01747    .01679    .01616    .01557    .01502

 

 21  .01820    .01748    .01682    .01620    .01562

 

 22  .01895    .01819    .01749    .01683    .01622

 

 23  .01972    .01893    .01818    .01749    .01684

 

 24  .02058    .01974    .01895    .01822    .01753

 

 25  .02154    .02064    .01981    .01903    .01830

 

 26  .02262    .02167    .02079    .01996    .01919

 

 27  .02385    .02284    .02191    .02103    .02021

 

 28  .02521    .02415    .02316    .02222    .02135

 

 29  .02673    .02561    .02455    .02357    .02264

 

 30  .02842    .02723    .02611    .02506    .02407

 

 31  .03030    .02903    .02784    .02673    .02568

 

 32  .03235    .03101    .02976    .02857    .02746

 

 33  .03463    .03321    .03188    .03062    .02944

 

 34  .03711    .03561    .03419    .03286    .03161

 

 35  .03981    .03822    .03672    .03531    .03398

 

 36  .04271    .04103    .03945    .03796    .03655

 

 37  .04584    .04407    .04239    .04081    .03932

 

 38  .04920    .04733    .04556    .04389    .04231

 

 39  .05280    .05083    .04897    .04721    .04554

 

 40  .05667    .05459    .05263    .05077    .04901

 

 41  .06080    .05861    .05655    .05459    .05272

 

 42  .06518    .06289    .06071    .05864    .05668

 

 43  .06982    .06742    .06513    .06296    .06089

 

 44  .07475    .07223    .06983    .06754    .06537

 

 45  .07998    .07733    .07481    .07242    .07014

 

 46  .08550    .08273    .08010    .07758    .07519

 

 47  .09134    .08845    .08569    .08306    .08055

 

 48  .09748    .09446    .09158    .08882    .08619

 

 49  .10391    .10076    .09775    .09487    .09212

 

 50  .11062    .10734    .10420    .10120    .09832

 

 51  .11764    .11423    .11096    .10783    .10483

 

 52  .12503    .12148    .11807    .11481    .11168

 

 53  .13278    .12909    .12556    .12216    .11891

 

 54  .14088    .13706    .13339    .12986    .12648

 

 55  .14936    .14540    .14159    .13793    .13442

 

 56  .15821    .15412    .15018    .14639    .14274

 

 57  .16749    .16326    .15918    .15526    .15148

 

 58  .17719    .17282    .16862    .16456    .16065

 

 59  .18731    .18281    .17847    .17429    .17025

 

 60  .19782    .19319    .18872    .18440    .18023

 

 61  .20869    .20393    .19934    .19489    .19060

 

 62  .21990    .21502    .21029    .20573    .20131

 

 63  .23144    .22644    .22159    .21690    .21236

 

 64  .24335    .23823    .23326    .22845    .22379

 

 65  .25568    .25045    .24537    .24044    .23566

 

 66  .26850    .26316    .25797    .25293    .24804

 

 67  .28182    .27637    .27108    .26594    .26095

 

 68  .29565    .29011    .28472    .27949    .27439

 

 69  .30991    .30429    .29882    .29349    .28830

 

 70  .32457    .31887    .31332    .30791    .30264

 

 71  .33955    .33378    .32816    .32267    .31732

 

 72  .35485    .34902    .34333    .33778    .33236

 

 73  .37049    .36461    .35887    .35326    .34778

 

 74  .38656    .38064    .37485    .36920    .36366

 

 75  .40312    .39717    .39136    .38566    .38009

 

 76  .42022    .41426    .40842    .40271    .39711

 

 77  .43782    .43187    .42603    .42031    .41470

 

 78  .45586    .44992    .44410    .43839    .43278

 

 79  .47418    .46828    .46248    .45679    .45120

 

 80  .49264    .48679    .48103    .47538    .46982

 

 81  .51103    .50524    .49954    .49394    .48843

 

 82  .52925    .52352    .51789    .51235    .50690

 

 83  .54718    .54154    .53598    .53051    .52512

 

 84  .56484    .55930    .55383    .54844    .54313

 

 85  .58231    .57686    .57149    .56619    .56096

 

 86  .59939    .59405    .58878    .58358    .57845

 

 87  .61583    .61061    .60545    .60035    .59532

 

 88  .63171    .62661    .62156    .61658    .61165

 

 89  .64733    .64235    .63742    .63255    .62774

 

 90  .66285    .65801    .65321    .64847    .64377

 

 91  .67804    .67334    .66868    .66407    .65950

 

 92  .69250    .68793    .68341    .67893    .67450

 

 93  .70604    .70162    .69723    .69288    .68858

 

 94  .71852    .71422    .70997    .70575    .70156

 

 95  .72984    .72567    .72154    .71744    .71337

 

 96  .73992    .73586    .73183    .72784    .72388

 

 97  .74910    .74514    .74122    .73733    .73346

 

 98  .75737    .75351    .74967    .74587    .74209

 

 99  .76501    .76123    .75748    .75376    .75007

 

 100  .77208    .76838    .76471    .76107    .75745

 

 101  .77879    .77517    .77157    .76800    .76444

 

 102  .78579    .78224    .77871    .77521    .77173

 

 103  .79318    .78971    .78626    .78283    .77942

 

 104  .80139    .79801    .79464    .79129    .78796

 

 105  .81161    .80834    .80508    .80184    .79861

 

 106  .82665    .82357    .82049    .81743    .81438

 

 107  .84893    .84616    .84340    .84064    .83789

 

 108  .88637    .88421    .88205    .87989    .87774

 

 109  .94900    .94800    .94700    .94600    .94500

 

 (Table continued)

 

 AGE   11.2%     11.4%     11.6%     11.8%     12.0%

 

 0  .01654    .01638    .01622    .01608    .01594

 

 1  .00530    .00514    .00499    .00485    .00472

 

 2  .00498    .00481    .00465    .00451    .00437

 

 3  .00492    .00474    .00458    .00442    .00427

 

 4  .00502    .00483    .00465    .00448    .00433

 

 5  .00522    .00502    .00483    .00465    .00449

 

 6  .00549    .00528    .00507    .00489    .00471

 

 7  .00583    .00560    .00539    .00518    .00499

 

 8  .00624    .00600    .00577    .00555    .00535

 

 9  .00675    .00649    .00625    .00602    .00580

 

 10  .00736    .00708    .00682    .00657    .00634

 

 11  .00808    .00779    .00751    .00725    .00700

 

 12  .00890    .00858    .00829    .00801    .00775

 

 13  .00976    .00943    .00912    .00883    .00855

 

 14  .01060    .01025    .00992    .00961    .00932

 

 15  .01138    .01101    .01066    .01034    .01003

 

 16  .01209    .01171    .01134    .01100    .01068

 

 17  .01274    .01233    .01195    .01159    .01125

 

 18  .01334    .01291    .01251    .01213    .01177

 

 19  .01393    .01348    .01305    .01265    .01227

 

 20  .01451    .01403    .01358    .01316    .01276

 

 21  .01508    .01457    .01409    .01365    .01323

 

 22  .01565    .01511    .01461    .01414    .01369

 

 23  .01624    .01567    .01514    .01464    .01417

 

 24  .01689    .01629    .01572    .01519    .01469

 

 25  .01762    .01698    .01638    .01582    .01529

 

 26  .01847    .01779    .01715    .01655    .01599

 

 27  .01944    .01872    .01804    .01740    .01680

 

 28  .02053    .01977    .01904    .01836    .01772

 

 29  .02177    .02095    .02018    .01946    .01877

 

 30  .02315    .02227    .02146    .02068    .01996

 

 31  .02470    .02377    .02290    .02207    .02130

 

 32  .02641    .02543    .02450    .02362    .02279

 

 33  .02833    .02728    .02629    .02535    .02447

 

 34  .03043    .02931    .02826    .02726    .02632

 

 35  .03273    .03154    .03042    .02936    .02836

 

 36  .03522    .03396    .03277    .03164    .03057

 

 37  .03791    .03657    .03531    .03411    .03297

 

 38  .04082    .03940    .03806    .03679    .03558

 

 39  .04396    .04246    .04103    .03968    .03840

 

 40  .04733    .04575    .04424    .04280    .04144

 

 41  .05096    .04928    .04768    .04617    .04472

 

 42  .05482    .05305    .05136    .04975    .04822

 

 43  .05893    .05706    .05528    .05358    .05196

 

 44  .06330    .06133    .05945    .05766    .05595

 

 45  .06796    .06588    .06390    .06202    .06021

 

 46  .07290    .07072    .06864    .06665    .06474

 

 47  .07815    .07586    .07367    .07157    .06957

 

 48  .08368    .08128    .07898    .07678    .07467

 

 49  .08949    .08697    .08456    .08225    .08003

 

 50  .09557    .09293    .09041    .08798    .08566

 

 51  .10195    .09919    .09655    .09401    .09158

 

 52  .10868    .10581    .10304    .10039    .09784

 

 53  .11578    .11278    .10989    .10712    .10445

 

 54  .12322    .12009    .11709    .11419    .11141

 

 55  .13103    .12778    .12464    .12163    .11872

 

 56  .13923    .13584    .13258    .12944    .12642

 

 57  .14784    .14433    .14094    .13768    .13453

 

 58  .15688    .15324    .14973    .14634    .14306

 

 59  .16634    .16258    .15894    .15543    .15203

 

 60  .17621    .17231    .16855    .16491    .16139

 

 61  .18644    .18242    .17854    .17477    .17113

 

 62  .19703    .19289    .18887    .18499    .18123

 

 63  .20796    .20370    .19956    .19556    .19167

 

 64  .21927    .21489    .21063    .20651    .20250

 

 65  .23103    .22653    .22216    .21791    .21379

 

 66  .24329    .23868    .23420    .22984    .22560

 

 67  .25609    .25137    .24678    .24231    .23797

 

 68  .26943    .26461    .25991    .25534    .25089

 

 69  .28325    .27833    .27354    .26887    .26432

 

 70  .29750    .29249    .28760    .28284    .27820

 

 71  .31210    .30701    .30204    .29719    .29246

 

 72  .32707    .32190    .31686    .31193    .30711

 

 73  .34242    .33719    .33207    .32707    .32218

 

 74  .35825    .35296    .34778    .34272    .33776

 

 75  .37464    .36930    .36407    .35895    .35394

 

 76  .39163    .38625    .38099    .37583    .37077

 

 77  .40920    .40380    .39851    .39332    .38823

 

 78  .42728    .42188    .41658    .41138    .40627

 

 79  .44572    .44033    .43503    .42983    .42472

 

 80  .46436    .45900    .45372    .44853    .44343

 

 81  .48301    .47768    .47243    .46727    .46219

 

 82  .50153    .49624    .49104    .48591    .48087

 

 83  .51981    .51459    .50943    .50436    .49936

 

 84  .53789    .53273    .52764    .52262    .51767

 

 85  .55581    .55072    .54571    .54076    .53588

 

 86  .57339    .56839    .56346    .55858    .55377

 

 87  .59035    .58545    .58060    .57581    .57108

 

 88  .60678    .60196    .59721    .59251    .58786

 

 89  .62298    .61827    .61361    .60900    .60444

 

 90  .63913    .63453    .62998    .62548    .62103

 

 91  .65498    .65050    .64607    .64169    .63735

 

 92  .67011    .66575    .66144    .65718    .65295

 

 93  .68431    .68008    .67589    .67174    .66762

 

 94  .69742    .69331    .68923    .68519    .68119

 

 95  .70934    .70534    .70137    .69744    .69354

 

 96  .71995    .71605    .71218    .70835    .70454

 

 97  .72963    .72582    .72205    .71830    .71458

 

 98  .73835    .73463    .73093    .72727    .72363

 

 99  .74640    .74276    .73914    .73555    .73198

 

 100  .75385    .75028    .74673    .74321    .73971

 

 101  .76092    .75741    .75392    .75046    .74702

 

 102  .76827    .76483    .76141    .75801    .75463

 

 103  .77604    .77266    .76931    .76598    .76267

 

 104  .78465    .78136    .77808    .77482    .77157

 

 105  .79540    .79220    .78902    .78585    .78270

 

 106  .81134    .80831    .80530    .80229    .79930

 

 107  .83515    .83241    .82969    .82696    .82425

 

 108  .87559    .87344    .87129    .86915    .86701

 

 109  .94400    .94300    .94200    .94100    .94000

 

 (table continued)

 

 AGE   12.2%     12.4%     12.6%     12.8%     13.0%

 

 0  .01581    .01569    .01557    .01546    .01536

 

 1  .00459    .00448    .00437    .00426    .00417

 

 2  .00424    .00412    .00400    .00389    .00379

 

 3  .00414    .00401    .00389    .00377    .00366

 

 4  .00418    .00404    .00391    .00379    .00368

 

 5  .00433    .00418    .00405    .00391    .00379

 

 6  .00454    .00439    .00424    .00410    .00397

 

 7  .00482    .00465    .00449    .00434    .00420

 

 8  .00516    .00498    .00481    .00465    .00450

 

 9  .00560    .00541    .00523    .00505    .00489

 

 10  .00613    .00592    .00573    .00555    .00537

 

 11  .00677    .00655    .00635    .00615    .00597

 

 12  .00751    .00728    .00706    .00685    .00666

 

 13  .00829    .00805    .00782    .00760    .00739

 

 14  .00905    .00879    .00854    .00831    .00809

 

 15  .00974    .00947    .00921    .00897    .00874

 

 16  .01037    .01009    .00982    .00956    .00932

 

 17  .01093    .01063    .01034    .01007    .00982

 

 18  .01143    .01112    .01082    .01053    .01027

 

 19  .01192    .01159    .01127    .01097    .01069

 

 20  .01239    .01204    .01170    .01139    .01109

 

 21  .01283    .01246    .01211    .01178    .01147

 

 22  .01328    .01288    .01251    .01216    .01183

 

 23  .01372    .01331    .01292    .01254    .01219

 

 24  .01422    .01378    .01336    .01297    .01260

 

 25  .01479    .01432    .01388    .01346    .01306

 

 26  .01545    .01495    .01448    .01404    .01362

 

 27  .01623    .01570    .01520    .01472    .01427

 

 28  .01712    .01655    .01601    .01551    .01503

 

 29  .01813    .01752    .01695    .01641    .01589

 

 30  .01927    .01862    .01801    .01743    .01688

 

 31  .02056    .01987    .01922    .01859    .01801

 

 32  .02201    .02127    .02057    .01990    .01927

 

 33  .02363    .02284    .02209    .02138    .02071

 

 34  .02543    .02458    .02378    .02302    .02230

 

 35  .02741    .02651    .02565    .02484    .02407

 

 36  .02956    .02859    .02768    .02681    .02599

 

 37  .03189    .03087    .02990    .02897    .02809

 

 38  .03443    .03334    .03230    .03131    .03037

 

 39  .03718    .03602    .03491    .03386    .03285

 

 40  .04015    .03891    .03774    .03662    .03555

 

 41  .04335    .04204    .04079    .03959    .03846

 

 42  .04677    .04538    .04405    .04278    .04157

 

 43  .05042    .04894    .04754    .04619    .04491

 

 44  .05432    .05276    .05127    .04984    .04848

 

 45  .05849    .05684    .05526    .05375    .05231

 

 46  .06292    .06118    .05952    .05792    .05639

 

 47  .06765    .06581    .06405    .06237    .06075

 

 48  .07265    .07071    .06886    .06708    .06537

 

 49  .07791    .07587    .07392    .07204    .07024

 

 50  .08343    .08129    .07923    .07726    .07536

 

 51  .08924    .08699    .08483    .08276    .08076

 

 52  .09539    .09303    .09076    .08858    .08648

 

 53  .10189    .09942    .09704    .09475    .09255

 

 54  .10872    .10614    .10365    .10126    .09894

 

 55  .11592    .11322    .11062    .10811    .10569

 

 56  .12350    .12068    .11796    .11534    .11281

 

 57  .13148    .12855    .12572    .12298    .12033

 

 58  .13990    .13685    .13389    .13104    .12828

 

 59  .14875    .14557    .14250    .13953    .13665

 

 60  .15799    .15469    .15150    .14841    .14542

 

 61  .16761    .16419    .16088    .15768    .15457

 

 62  .17758    .17404    .17062    .16729    .16407

 

 63  .18791    .18425    .18071    .17726    .17392

 

 64  .19862    .19484    .19118    .18762    .18417

 

 65  .20979    .20590    .20212    .19845    .19487

 

 66  .22149    .21748    .21359    .20980    .20612

 

 67  .23374    .22962    .22562    .22172    .21792

 

 68  .24656    .24234    .23822    .23422    .23031

 

 69  .25988    .25556    .25134    .24724    .24323

 

 70  .27367    .26925    .26493    .26073    .25662

 

 71  .28784    .28333    .27892    .27462    .27042

 

 72  .30241    .29781    .29332    .28893    .28464

 

 73  .31740    .31272    .30815    .30368    .29930

 

 74  .33291    .32817    .32352    .31897    .31452

 

 75  .34903    .34422    .33951    .33490    .33038

 

 76  .36581    .36095    .35619    .35152    .34694

 

 77  .38324    .37835    .37354    .36883    .36420

 

 78  .40126    .39634    .39150    .38676    .38210

 

 79  .41970    .41476    .40992    .40515    .40047

 

 80  .43842    .43348    .42864    .42387    .41918

 

 81  .45719    .45228    .44744    .44267    .43799

 

 82  .47590    .47101    .46619    .46145    .45677

 

 83  .49443    .48957    .48478    .48007    .47542

 

 84  .51279    .50798    .50324    .49856    .49394

 

 85  .53106    .52630    .52161    .51698    .51241

 

 86  .54902    .54434    .53971    .53514    .53062

 

 87  .56640    .56178    .55722    .55271    .54826

 

 88  .58326    .57872    .57423    .56979    .56541

 

 89  .59994    .59548    .59107    .58671    .58240

 

 90  .61662    .61226    .60794    .60367    .59944

 

 91  .63305    .62879    .62457    .62040    .61627

 

 92  .64876    .64461    .64050    .63643    .63239

 

 93  .66355    .65950    .65550    .65153    .64759

 

 94  .67722    .67328    .66938    .66551    .66167

 

 95  .68967    .68583    .68203    .67825    .67451

 

 96  .70076    .69701    .69330    .68961    .68595

 

 97  .71089    .70722    .70359    .69998    .69640

 

 98  .72001    .71642    .71286    .70933    .70582

 

 99  .72844    .72492    .72143    .71796    .71452

 

 100  .73623    .73278    .72935    .72594    .72256

 

 101  .74361    .74021    .73684    .73349    .73016

 

 102  .75128    .74794    .74463    .74133    .73806

 

 103  .75938    .75610    .75284    .74961    .74639

 

 104  .76835    .76514    .76194    .75877    .75561

 

 105  .77956    .77643    .77332    .77023    .76714

 

 106  .79632    .79334    .79038    .78743    .78449

 

 107  .82154    .81884    .81615    .81346    .81079

 

 108  .86487    .86274    .86061    .85848    .85635

 

 109  .93900    .93800    .93700    .93600    .93500

 

 (table continued)

 

 AGE   13.2%     13.4%     13.6%     13.8%     14.0%

 

 0  .01526    .01516    .01507    .01499    .01490

 

 1  .00407    .00399    .00390    .00382    .00375

 

 2  .00369    .00360    .00352    .00343    .00335

 

 3  .00356    .00346    .00337    .00328    .00320

 

 4  .00357    .00347    .00337    .00327    .00319

 

 5  .00368    .00357    .00346    .00336    .00327

 

 6  .00384    .00372    .00361    .00351    .00341

 

 7  .00407    .00394    .00382    .00371    .00360

 

 8  .00436    .00422    .00410    .00397    .00386

 

 9  .00474    .00459    .00446    .00433    .00420

 

 10  .00521    .00505    .00491    .00477    .00463

 

 11  .00580    .00563    .00547    .00532    .00518

 

 12  .00647    .00629    .00613    .00597    .00581

 

 13  .00719    .00701    .00683    .00666    .00650

 

 14  .00789    .00769    .00750    .00732    .00715

 

 15  .00852    .00831    .00811    .00793    .00775

 

 16  .00909    .00887    .00866    .00846    .00827

 

 17  .00958    .00935    .00913    .00892    .00873

 

 18  .01001    .00977    .00954    .00933    .00912

 

 19  .01043    .01017    .00993    .00970    .00949

 

 20  .01081    .01055    .01029    .01005    .00983

 

 21  .01117    .01089    .01063    .01037    .01013

 

 22  .01152    .01122    .01094    .01067    .01042

 

 23  .01186    .01155    .01125    .01097    .01070

 

 24  .01225    .01191    .01160    .01130    .01101

 

 25  .01269    .01233    .01200    .01168    .01138

 

 26  .01322    .01284    .01248    .01214    .01182

 

 27  .01385    .01344    .01306    .01270    .01235

 

 28  .01457    .01414    .01373    .01334    .01298

 

 29  .01541    .01494    .01451    .01409    .01370

 

 30  .01635    .01586    .01539    .01495    .01452

 

 31  .01745    .01692    .01642    .01594    .01548

 

 32  .01868    .01811    .01757    .01706    .01657

 

 33  .02007    .01946    .01888    .01833    .01781

 

 34  .02162    .02096    .02034    .01975    .01919

 

 35  .02333    .02264    .02197    .02134    .02073

 

 36  .02520    .02446    .02374    .02307    .02242

 

 37  .02725    .02645    .02569    .02496    .02427

 

 38  .02948    .02862    .02781    .02703    .02628

 

 39  .03190    .03099    .03011    .02928    .02849

 

 40  .03453    .03355    .03262    .03173    .03088

 

 41  .03737    .03633    .03534    .03439    .03348

 

 42  .04042    .03931    .03825    .03724    .03627

 

 43  .04368    .04250    .04138    .04030    .03926

 

 44  .04718    .04593    .04473    .04358    .04248

 

 45  .05092    .04960    .04832    .04710    .04593

 

 46  .05492    .05352    .05217    .05087    .04963

 

 47  .05920    .05771    .05628    .05491    .05359

 

 48  .06373    .06216    .06064    .05919    .05779

 

 49  .06851    .06685    .06525    .06371    .06223

 

 50  .07354    .07178    .07009    .06847    .06690

 

 51  .07884    .07699    .07520    .07349    .07183

 

 52  .08446    .08251    .08064    .07883    .07708

 

 53  .09043    .08838    .08640    .08450    .08266

 

 54  .09672    .09456    .09249    .09049    .08855

 

 55  .10335    .10110    .09892    .09682    .09478

 

 56  .11036    .10800    .10571    .10350    .10137

 

 57  .11777    .11530    .11291    .11060    .10836

 

 58  .12561    .12303    .12053    .11811    .11576

 

 59  .13387    .13118    .12856    .12604    .12359

 

 60  .14253    .13972    .13700    .13436    .13180

 

 61  .15156    .14864    .14580    .14305    .14039

 

 62  .16094    .15791    .15496    .15210    .14932

 

 63  .17068    .16753    .16447    .16150    .15861

 

 64  .18081    .17754    .17437    .17129    .16829

 

 65  .19140    .18802    .18474    .18154    .17843

 

 66  .20253    .19904    .19564    .19233   .18911

 

 67  .21423    .21062    .20712    .20370    .20037

 

 68  .22651    .22280    .21919    .21566    .21222

 

 69  .23932    .23551    .23179    .22816    .22461

 

 70  .25261    .24870    .24488    .24115    .23750

 

 71  .26631    .26230    .25839    .25456    .25082

 

 72  .28044    .27634    .27233    .26841    .26457

 

 73  .29502    .29084    .28674    .28273    .27880

 

 74  .31016    .30589    .30171    .29762    .29361

 

 75  .32595    .32161    .31735    .31318    .30909

 

 76  .34245    .33805    .33373    .32949    .32533

 

 77  .35966    .35520    .35083    .34654    .34232

 

 78  .37752    .37302    .36861    .36427    .36001

 

 79  .39587    .39135    .38690    .38253    .37823

 

 80  .41456    .41002    .40556    .40117     .39685

 

 81  .43337    .42883    .42436    .41996     .41562

 

 82  .45217    .44764    .44317    .43877     .43443

 

 83  .47084    .46632    .46187    .45748     .45315

 

 84  .48939    .48490    .48048    .47611     .47180

 

 85  .50790    .50345    .49906    .49473     .49045

 

 86  .52616    .52176    .51741    .51312     .50888

 

 87  .54386    .53951    .53521    .53097     .52677

 

 88  .56107    .55678    .55254    .54834     .54420

 

 89  .57813    .57391    .56973    .56560     .56152

 

 90  .59526    .59112    .58702    .58296     .57894

 

 91  .61217    .60812    .60411    .60013     .59619

 

 92  .62839    .62443    .62051    .61662     .61277

 

 93  .64369    .63983    .63600    .63220     .62843

 

 94  .65786    .65409    .65035    .64664     .64296

 

 95  .67079    .66711    .66345    .65983     .65623

 

 96  .68231    .67871    .67513    .67158     .66806

 

 97  .69284    .68931    .68581    .68234     .67888

 

 98  .70233    .69887    .69544    .69203     .68864

 

 99  .71110    .70770    .70433    .70098     .69765

 

 100  .71920    .71586    .71254    .70924     .70597

 

 101  .72685    .72356    .72029    .71704     .71382

 

 102  .73480    .73157    .72835    .72515     .72198

 

 103  .74319    .74000    .73684    .73369     .73056

 

 104  .75246    .74934    .74623    .74313     .74005

 

 105  .76408    .76102    .75798    .75496     .75195

 

 106  .78157    .77865    .77575    .77285     .76997

 

 107  .80811    .80545    .80279    .80014     .79750

 

 108  .85423    .85210    .84998    .84787     .84575

 

 109  .93400    .93300    .93200    .93100     .93000

 

 ____________________________________________________________________

 

 

(f) EFFECTIVE DATE. This section is effective as of May 1, 1989.

Par. 14. Section 1.664-4A is further amended as follows:

1. The fifth sentence of newly designated paragraph (d)(4) is revised.

2. Newly designated paragraph (d)(5) is amended by:

a. Revising the first and fifth sentences.

b. Removing the reference "(b)(4)" in both places it appears and adding "(b)(5)" in each place.

3. The heading for newly designated paragraph (d)(6) is revised.

4. The headings for Table D, Table E, and Table F(1) in newly designated paragraph (d)(6) are revised.

5. The revisions read as follows:

SECTION 1.664-4A VALUATION OF CHARITABLE REMAINDER INTERESTS FOR WHICH THE VALUATION DATE IS BEFORE MAY 1, 1989.

* * * * *

(d) * * *

(4) PERIOD IS A TERM OF YEARS. * * * If the adjusted payout rate is greater than 14 percent, see section 1.664-4(b).

* * * * *

(5) PERIOD IS THE LIFE OF ONE INDIVIDUAL. If the period described in paragraph (a)(5) of section 1.664-3 is the life of one individual, the factor that is used in determining the present value of the remainder interest is the factor under the appropriate adjusted payout rate in column (2) of Table E in paragraph (d)(6) of this section opposite the number in column (1) that corresponds to the age of the individual whose life measures the period. * * * If the adjusted payout rate is greater than 14 percent, see section 1.664-4(b). * * *

(6) ACTUARIAL TABLES FOR TRANSFERS FOR WHICH THE VALUATION DATE IS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989.

* * * * * *

TABLE D

TABLE D - TERM CERTAIN - TABLE SHOWING THE PRESENT WORTH OF A REMAINDER INTEREST POSTPONED FOR A TERM OF YEARS IN A CHARITABLE REMAINDER UNITRUST HAVING THE ADJUSTED PAYOUT RATE SHOWN APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

TABLE E

TABLE E - SINGLE LIFE, UNISEX - TABLE SHOWING THE PRESENT WORTH OF THE REMAINDER INTEREST IN PROPERTY TRANSFERRED TO A UNITRUST HAVING THE ADJUSTED PAYOUT RATE SHOWN - APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

TABLE F(1)

TABLE F(1) - 10 PERCENT - TABLE SHOWING FACTORS FOR COMPUTATIONS OF THE ADJUSTED PAYOUT RATE FOR CERTAIN VALUATIONS AND PAYOUT SEQUENCES - APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

Par. 14a. An undesignated center heading is added immediately before section 1.665(a)-0A to read as follows:

TREATMENT OF EXCESS DISTRIBUTIONS OF TRUSTS APPLICABLE TO TAXABLE YEARS BEGINNING ON OR AFTER JANUARY 1, 1969

Par. 14b. An undesignated center heading is added immediately before section 1.665(a)-0 to read as follows:

TREATMENT OF EXCESS DISTRIBUTIONS OF TRUSTS APPLICABLE TO TAXABLE YEARS BEGINNING BEFORE JANUARY 1, 1969

Par. 15. Section 1.1011-2, paragraph (c), Example (8)(b) is amended by adding the following three sentences at the end of the paragraph.

SECTION 1.1011-2 BARGAIN SALE TO CHARITABLE ORGANIZATION.

* * * * *

(c) * * *

Example (8).

* * * * *

(b) * * * See Rev. Rul. 84-162, 1984-2 C.B. 200, for transfers for which the valuation date falls after November 23, 1984. (See section 601.601(d)(2)(ii)(b) of this chapter). For the applicable valuation tables in connection therewith, see section 20.2031-7(d)(6) of this chapter. See, however, section 1.7520-3(b) (relating to exceptions to the use of standard actuarial factors in certain circumstances).

* * * * *

Par. 16. Immediately following section 1.7519-3T, an undesignated center heading and sections 1.7520-1 through 1.7520-4 are added to read as follows:

GENERAL ACTUARIAL VALUATIONS

SECTION 1.7520-1 VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERMS OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS.

(a) GENERAL ACTUARIAL VALUATIONS. (1) Except as otherwise provided in this section and in section 1.7520-3 (relating to exceptions to the use of prescribed tables under certain circumstances), in the case of certain transactions after April 30, 1989, subject to income tax, the fair market value of annuities, interests for life or for a term of years (including unitrust interests), remainders, and reversions is their present value determined under this section. See section 20.2031-7(d) (and, for certain prior periods, section 20.2031-7A) of this chapter, Estate Tax Regulations, for the computation of the value of annuities, unitrust interests, life estates, terms for years, remainders, and reversions, other than interests described in paragraphs (a)(2) and (a)(3) of this section.

(2) For a transfer to a pooled income fund after April 30, 1989, see section 1.642(c)-6(e) (or, for certain prior periods, section 1.642(c)-6A) with respect to the valuation of the remainder interest.

(3) For a transfer to a charitable remainder annuity trust after April 30, 1989, see section 1.664-2 with respect to the valuation of the remainder interest. See section 1.664-4 (or, for certain prior periods, section 1.664-4A) with respect to the valuation of the remainder interest in property transferred to a charitable remainder unitrust.

(b) COMPONENTS OF VALUATION -- (1) INTEREST RATE COMPONENT -- (i) SECTION 7520 INTEREST RATE. The section 7520 interest rate is the rate of return, rounded to the nearest two-tenths of one percent, that is equal to 120 percent of the applicable Federal mid-term rate, compounded annually, for purposes of section 1274(d)(1), for the month in which the valuation date falls. In rounding the rate to the nearest two-tenths of a percent, any rate that is midway between one two-tenths of a percent and another is rounded up to the higher of those two rates. For example, if 120 percent of the applicable Federal mid-term rate is 10.30, the section 7520 interest rate component is 10.4. The section 7520 interest rate is published monthly by the Internal Revenue Service in the Internal Revenue Bulletin (see section 601.601(d)(2)(ii)(b) of this chapter).

(ii) VALUATION DATE. Except as provided in section 1.7520-2, the valuation date is the date on which the transaction takes place.

(2) MORTALITY COMPONENT. The mortality component reflects the mortality data most recently available from the United States census. As new mortality data becomes available after each decennial census, the mortality component described in this section will be revised periodically and the revised mortality component tables will be published in the regulations at that time. For transactions with valuation dates after April 30, 1989, the mortality component table (Table 80CNSMT) is contained in section 20.2031-7(d) of this chapter (Estate Tax Regulations). See section 20.2031-7A for mortality component tables applicable to transactions for which the valuation date falls before May 1, 1989.

(c) TABLES. The present value on the valuation date of an annuity, life estate, term of years, remainder, or reversion is computed by using the section 7520 interest rate component that is described in paragraph (b)(1) of this section and the mortality component that is described in paragraph (b)(2) of this section. Actuarial factors for determining these present values are included in tables in these regulations and in publications by the Internal Revenue Service. If a special factor is required in order to value an interest, the Internal Revenue Service will furnish the factor upon a request for a ruling. The request for a ruling must be accompanied by a recitation of the facts, including the date of birth for each measuring life and copies of relevant instruments. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see Rev. Proc. 94-1, 1994-1 I.R.B. 10, and subsequent updates, and sections 601.201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee.

(1) REGULATION SECTIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 4.2 AND 14 PERCENT. Section 1.642(c)-6(e)(4) contains Table S used for determining the present value of a single life remainder interest in a pooled income fund as defined in section 1.642(c)-5. Section 1.664-4(e)(6) contains Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years), Table U(1) (actuarial factors for one life), and Table F (payout factors) used in determining the present value of a remainder interest in a charitable remainder unitrust as defined in section 1.664-3. Section 20.2031-7(d)(6) of this chapter (Estate Tax Regulations) contains Table S (actuarial factors for one life), Table B (actuarial factors used in determining the present value of an interest for a term of years), Table K (annuity end-of-interval adjustment factors), Table J (term certain annuity beginning-of- interval adjustment factors), and Table 80CNSMT (mortality components) used in determining the present value of annuities, life estates, remainders, and reversions. The regulations will be revised periodically to include new mortality component tables and new tables of factors.

(2) INTERNAL REVENUE SERVICE PUBLICATIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 2.2 AND 26 PERCENT. The following documents (with the exception of Publication 1459) have been published for sale by the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8/89). This publication includes tables of valuation factors, as well as examples that show how to compute other valuation factors, for determining the present value of annuities, life estates, terms of years, remainders, and reversions, measured by one or two lives. These factors may also be used in the valuation of interests in a charitable remainder annuity trust as defined in section 1.664-2 of this chapter and a pooled income fund as defined in section 1.642(c)-5 of this chapter.

(ii) Internal Revenue Service Publication 1458, "Actuarial Values, Beta Volume," (8/89). This publication includes term certain tables and tables of one and two life valuation factors for determining the present value of remainder interests in a charitable remainder unitrust as defined in section 1.664-3 of this chapter.

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89) is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 1459), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. This publication includes tables for computing depreciation adjustment factors. See section 1.170A-12 of this chapter.

(d) EFFECTIVE DATE. This section is effective as of May 1, 1989.

SECTION 1.7520-2 VALUATION OF CHARITABLE INTERESTS.

(a) IN GENERAL -- (1) VALUATION. Except as otherwise provided in this section and in section 1.7520-3 (relating to exceptions to the use of prescribed tables under certain circumstances), the fair market value of annuities, interests for life or for a term of years, remainders, and reversions for which an income tax charitable deduction is allowable is the present value of such interests determined under section 1.7520-1.

(2) PRIOR-MONTH ELECTION RULE. If any part of the property interest transferred qualifies for an income tax charitable deduction under section 170(c), the taxpayer may elect (under paragraph (b) of this section) to compute the present value of the interest transferred by use of the section 7520 interest rate for the month during which the interest is transferred or the section 7520 interest rate component for either of the 2 months preceding the month during which the interest is transferred. Paragraph (b) of this section explains how a prior-month election is made. The interest rate for the month so elected is the applicable section 7520 interest rate. If the actuarial factor for either or both of the 2 months preceding the month during which the interest is transferred is based on a mortality experience that is different from the mortality experience at the date of the transfer and if the taxpayer elects to use the section 7520 rate for a prior month with the different mortality experience, the taxpayer must use the actuarial factor derived from the mortality experience in effect during the month of the section 7520 rate elected. All actuarial computations relating to the transfer must be made by applying the interest rate component and the mortality component of the month elected by the taxpayer.

(3) TRANSFERS OF MORE THAN ONE INTEREST IN THE SAME PROPERTY. If a taxpayer transfers more than one interest in the same property at the same time, for purposes of valuing the transferred interests, the taxpayer must use the same interest rate and mortality component for each interest in the property transferred. If more than one interest in the same property is transferred in two or more separate transfers at different times, the value of each interest is determined by the use of the interest rate component and mortality component in effect during the month of the transfer of that interest or, if applicable under paragraph (a)(2) of this section, either of the two months preceding the month of the transfer.

(4) INFORMATION REQUIRED WITH TAX RETURN. The following information must be attached to the income tax return (or to the amended return) if the taxpayer claims a charitable deduction for the present value of a temporary or remainder interest in property --

(i) A complete description of the interest that is transferred, including a copy of the instrument of transfer;

(ii) The valuation date of the transfer;

(iii) The names and identification numbers of the beneficiaries of the transferred interest;

(iv) The names and birthdates of any measuring lives, a description of any relevant terminal illness condition of any measuring life, and (if applicable) an explanation of how any terminal illness condition was taken into account in valuing the interest; and

(v) A computation of the deduction showing the applicable section 7520 interest rate that is used to value the transferred interest.

(5) PLACE FOR FILING RETURNS. See section 6091 of the Internal Revenue Code and the regulations thereunder for the place for filing the return or other document required by this section.

(b) ELECTION OF INTEREST RATE COMPONENT -- (1) TIME FOR MAKING ELECTION. A taxpayer makes a prior-month election under paragraph (a)(2) of this section by attaching the information described in paragraph (b)(2) of this section to the taxpayer's income tax return or to an amended return for that year that is filed within 24 months after the later of the date the original return for the year was filed or the due date for filing the return.

(2) MANNER OF MAKING ELECTION. A statement that the prior-month election under section 7520(a) of the Internal Revenue Code is being made and that identifies the elected month must be attached to the income tax return (or to the amended return).

(3) REVOCABILITY. The prior-month election may be revoked by filing an amended return within 24 months after the later of the date the original return of tax for the year was filed or the due date for filing the return. The revocation must be filed in the place referred to in paragraph (a)(5) of this section.

(c) EFFECTIVE DATES. Paragraph (a) of this section is effective as of May 1, 1989. Paragraph (b) of this section is effective for elections made after June 10, 1994.

SECTION 1.7520-3 LIMITATION ON THE APPLICATION OF SECTION 7520.

(a) INTERNAL REVENUE CODE SECTIONS TO WHICH SECTION 7520 DOES NOT APPLY. Section 7520 of the Internal Revenue Code does not apply for purposes of --

(1) Part I, subchapter D of subtitle A (section 401 et seq.), relating to the income tax treatment of certain qualified plans. (However, section 7520 does apply to the estate and gift tax treatment of certain qualified plans and for purposes of determining excess accumulations under section 4980A);

(2) Sections 72 and 101(b), relating to the income taxation of life insurance, endowment, and annuity contracts, unless otherwise provided for in the regulations under sections 72, 101, and 1011 (see, particularly, sections 1.101-2(e)(1)(iii)(b)(2), and 1.1011-2(c), Example 8);

(3) Sections 83 and 451, unless otherwise provided for in the regulations under those sections;

(4) Section 457, relating to the valuation of deferred compensation, unless otherwise provided for in the regulations under section 457;

(5) Sections 3121(v) and 3306(r), relating to the valuation of deferred amounts, unless otherwise provided for in the regulations under those sections;

(6) Section 6058, relating to valuation statements evidencing compliance with qualified plan requirements, unless otherwise provided for in the regulations under section 6058;

(7) Section 7872, relating to income and gift taxation of interest-free loans and loans with below-market interest rates, unless otherwise provided for in the regulations under section 7872; or

(8) Section 2702(a)(2)(A), relating to the value of a nonqualified retained interest upon a transfer of an interest in trust to or for the benefit of a member of the transferor's family; and

(9) Any other sections of the Internal Revenue Code to the extent provided by the Internal Revenue Service in revenue rulings or revenue procedures. (See sections 601.201 and 601.601 of this chapter).

(b) OTHER LIMITATIONS ON THE APPLICATION OF SECTION 7520. [RESERVED].

(c) EFFECTIVE DATE. Section 1.7520-3(a) is effective as of May 1, 1989.

SECTION 1.7520-4 TRANSITIONAL RULES -- (a) RELIANCE. If the valuation date is after April 30, 1989, and before June 10, 1994, a taxpayer can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See section 601.601(d)(2)(ii)(b) of this chapter), in valuing the transferred interest.

(b) EFFECTIVE DATE. This section is effective as of May 1, 1989.

PART 20 -- ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954

Par. 17. The authority citation for part 20 is revised to read as follows:

Authority: 26 U.S.C. 7805.

Section 20.2031-7 also issued under 26 U.S.C. 7520(c)(2).

Section 20.2031-7A also issued under 26 U.S.C. 7520(c)(2).

Section 20.7520-1 also issued under 26 U.S.C. 7520(c)(2).

Section 20.7520-2 also issued under 26 U.S.C. 7520(c)(2).

Section 20.7520-3 also issued under 26 U.S.C. 7520(c)(2).

Section 20.7520-4 also issued under 26 U.S.C. 7520(c)(2).

Par. 18. Section 20.2013-4 is amended by:

1. Revising the second sentence of the introductory text of paragraph (a).

2. Revising the fourth sentence in Example (2) of paragraph (a).

3. The revisions read as follows:

SECTION 20.2013-4 VALUATION OF PROPERTY TRANSFERRED.

(a) * * * If the decedent received a life estate or a remainder or other limited interest in property that was included in a transferor decedent's gross estate, the value of the interest is determined as of the date of the transferor's death on the basis of recognized valuation principles (see sections 20.2031-7 (or, for certain prior periods, section 20.2031-7A) and 20.7520-1 through 20.7520-4). * * *

* * * * *

EXAMPLE (2). * * * The part of that value attributable to the life estate is $44,688 and the part of that value attributable to the remainder is $55,312 (see section 20.2031-7A(b)).

* * * * *

Par. 19. Section 20.2031-0 is added to read as follows:

SECTION 20.2031-0 TABLE OF CONTENTS.

This section lists the section headings and undesignated center headings that appear in the regulations under section 2031.

 Section 20.2031-1 Definition of gross estate; valuation of property.

 

 Section 20.2031-2 Valuation of stocks and bonds.

 

 Section 20.2031-3 Valuation of interests in businesses.

 

 Section 20.2031-4 Valuation of notes.

 

 Section 20.2031-5 Valuation of cash on hand or on deposit.

 

 Section 20.2031-6 Valuation of household and personal effects.

 

 Section 20.2031-7 Valuation of annuities, interests for life or term

 

 of years, and remainder or reversionary interests for estates of

 

 decedents for which the valuation date of the gross estate is

 

 after April 30, 1989.

 

 Section 20.2031-8 Valuation of certain life insurance and annuity

 

 contracts; valuation of shares in an open-end investment

 

 company.

 

 Section 20.2031-9 Valuation of other property.

 

 ACTUARIAL TABLES APPLICABLE BEFORE MAY 1, 1989

 

 Section 20.2031-7A Valuation of annuities, interests for life or term

 

 of years, and remainder or reversionary interests for estates of

 

 decedents for which the valuation date of the gross estate is

 

 before May 1, 1989.

 

 

Par. 20. Immediately following section 20.2046-1 an undesignated center heading and section 20.2031-7A are added to read as follows:

ACTUARIAL TABLES APPLICABLE BEFORE MAY 1, 1989

SECTION 20.2031-7A VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE GROSS ESTATE IS BEFORE MAY 1, 1989.

(a) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE GROSS ESTATE IS BEFORE JANUARY 1, 1952. Except as otherwise provided in section 20.2031-7(b), if the valuation date of the decedent's gross estate is before January 1, 1952, the present value of annuities, life estates, terms for years, remainders, and reversions is their present value determined under this section. If the valuation of the interest involved is dependent upon the continuation or termination of one or more lives or upon a term certain concurrent with one or more lives, the factor for the present value is computed on the basis of interest at the rate of 4 percent a year, compounded annually, and life contingencies as to each life involved from values that are based on the Actuaries' or Combined Experience Table of Mortality, as extended. This table and related factors are described in former section 81.10 (as contained in the 26 CFR Part 81 edition revised as of April 1, 1958). The present value of an interest measured by a term of years is computed on the basis of interest at the rate of 4 percent a year.

(b) VALUATION OF ANNUITIES INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE GROSS ESTATE IS AFTER DECEMBER 31, 1951, AND BEFORE JANUARY 1, 1971.-- Except as otherwise provided in section 20.2031-7(b), if the valuation date for the decedent's gross estate is after December 31, 1951, and before January 1, 1971, the present value of annuities, life estates, terms of years, remainders, and reversions is their present value determined under this section. If the valuation of the interest involved is dependent upon the continuation or termination of one or more lives, or upon a term certain concurrent with one or more lives, the factor for the present value is computed on the basis of interest at the rate of 3 1/2 percent a year, compounded annually, and life contingencies as to each life involved are taken from U.S. Life Table 38. This table and related factors are set forth in former section 20.2031-7 (as contained in the 26 CFR Part 20 edition revised as of April 1, 1984). Special factors involving one and two lives may be found in or computed with the use of tables contained in the publication entitled "Actuarial Values for Estate and Gift Tax," Internal Revenue Service Publication Number 11 (Rev. 5-59). This publication is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 11), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. The present value of an interest measured by a term of years is computed on the basis of interest at the rate of 3 1/2 percent a year.

(c) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE CROSS ESTATE IS AFTER DECEMBER 31, 1970, AND BEFORE DECEMBER 1, 1983.-- Except as otherwise provided in section 20.2031-7(b), if the valuation date of the decedent's gross estate is after December 31, 1970, and before December 1, 1983, the present value of annuities, life estates, terms of years, remainders, and reversions is their present value determined under this section. If the valuation of the interest involved is dependent upon the continuation of or termination of one or more lives or upon a term certain concurrent with one or more lives, the factor for the present value is computed on the basis of interest at the rate of 6 percent a year, compounded annually, and life contingencies are determined as to each male and female life involved, from values that are set forth in Table LN. Table LN contains values that are taken from the life table for total males and the life table for total females appearing as Tables 2 and 3, respectively, in United States Life Tables: 1959-1960, published by the Department of Health and Human Services, Public Health Service. Table LN and related factors are set forth in former section 20.2031-10 (as contained in the 26 CFR Part 20 edition revised as of April 1, 1994). Special factors involving one and two lives may be found in or computed with the use of tables contained in Internal Revenue Service Publication (723), "Actuarial Values I: Valuation of Last Survivor Charitable Remainders," (12-70), and Internal Revenue Service Publication (723A), "Actuarial Values II: Factors at 6 Percent Involving One and Two Lives," (12-70). These publications are no longer available for purchase from the Superintendent of Documents. However, a copy of each may be obtained from: CC:DOM:CORP:T:R (IRS Publication 723/723A), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044.

Par. 21. Section 20.2031-7 is redesignated as section 20.2031-7A, paragraph (d) and amended as follows:

1. The following redesignation table indicates the old CFR unit numbers for section 20.2031-7 and the corresponding new CFR unit numbers for section 20.2031-7A(d):

 Old CFR unit number in             Corresponding new number in

 

 section 20.2031-7                    section 20. 2031-7A

 

 ________________________________________________________________

 

 Section 20.2031-7 heading          paragraph (d) heading

 

 (a)                                (d)(1)

 

 (a)(1)                             (d)(1)(i)

 

 (a)(2)                             (d)(1)(ii)

 

 (a)(3)                             (d)(1)(iii)

 

 (b)                                (d)(2)

 

 (b)(1)                             (d)(2)(i)

 

 (b)(2)                             (d)(2)(ii)

 

 (b)(3)                             (d)(2)(iii)

 

 (b)(3)(i)                          (d)(2)(iii)(A)

 

 (b)(3)(ii)                         (d)(2)(iii)(B)

 

 (c) through (f)                    (d)(3) through (d)(6)

 

 

2. The paragraph heading for paragraph (d) is revised.

3. Paragraphs (d)(1)(i) and (iii) are revised.

4. Paragraph (d)(5), third and fourth sentences are revised and a new sentence is added after the fourth sentence.

5. Paragraph (d)(6), the headings for Tables A, B, and LN are revised.

6. The added and revised provisions read as follows:

SECTION 20.2031-7A VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE GROSS ESTATE IS BEFORE MAY 1, 1989.

* * * * *

(d) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE CROSS ESTATE IS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989 -- (1) IN GENERAL. (i) Except as otherwise provided in section 20.2031-7(b), if the decedent died after November 30, 1983, and the valuation date for the gross estate is before May 1, 1989, the fair market value of annuities, life estates, terms of years, remainders, and reversions is their present value determined under this section. If the decedent died after November 30, 1983, and before August 9, 1984, or, in cases where the valuation date of the decedent's gross estate is before May 1, 1989, if, on December 1, 1983, the decedent was mentally incompetent so that the disposition of the decedent's property could not be changed, and the decedent died on or after December 1, 1983, without having regained competency to dispose of the decedent's property, or if the decedent died within 90 days of the date on which the decedent first regained competency, the fair market value of annuities, life estates, terms for years, remainders, and reversions included in the gross estate of such decedent is their present value determined under either this section or section 20.2031-7A(c), at the option of the taxpayer. The value of annuities issued by companies regularly engaged in their sale, and of insurance policies on the lives of persons other than the decedent, is determined under section 20.2031-8. The fair market value of a remainder interest in a charitable remainder unitrust, as defined in section 1.664-3 of this chapter, is its present value determined under section 1.664-4 of this chapter. The fair market value of a life interest or term for years in a charitable remainder unitrust is the fair market value of the property as of the date of valuation less the fair market value of the remainder interest on such date determined under section 1.664-4 of this chapter. The fair market value of the interests in a pooled income fund, as defined in section 1.642(c)-5 of this chapter, is their value determined under section 1.642(c)-6 of this chapter.

* * * * *

(iii) In all examples set forth in this section, the decedent is assumed to have died on or after August 9, 1984, with the valuation date of the decedent's gross estate before May 1, 1989, and to have been competent to change the disposition of the property on December 1, 1983.

* * * * *

(5) ACTUARIAL COMPUTATIONS BY THE INTERNAL REVENUE SERVICE. * * * Table LN contains values of 1x taken from the life table for the total population appearing as Table 1 of United States Life Tables: 1969-71, published by the Department of Health and Human Services, Public Health Service. Many special factors involving one and two lives may be found in or computed with the use of the tables contained in Internal Revenue Service Publication 723E, "Actuarial Values II: Factors at 10 Percent Involving One and Two Lives," (12-83). This publication is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 723E), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044.

(6) * * *

TABLE A

TABLE A - SINGLE LIFE, UNISEX, 10 PERCENT - TABLE SHOWING THE PRESENT WORTH OF AN ANNUITY, OF A LIFE ESTATE, AND A REMAINDER INTEREST - APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

TABLE B

TABLE B - TERM CERTAIN, UNISEX, 10 PERCENT - TABLE SHOWING THE PRESENT WORTH OF AN ANNUITY FOR A TERM CERTAIN, OF AN INCOME INTEREST FOR A TERM CERTAIN, AND OF A REMAINDER INTEREST POSTPONED FOR A TERM CERTAIN - APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

TABLE LN

TABLE LN - APPLICABLE FOR TRANSFERS AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989

* * * * *

Par. 22. New section 20.2031-7 is added to read as follows:

SECTION 20.2031-7 VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS FOR ESTATES OF DECEDENTS FOR WHICH THE VALUATION DATE OF THE CROSS ESTATE IS AFTER APRIL 30, 1989.

(a) IN GENERAL. Except as otherwise provided in paragraph (b) of this section and section 20.7520-3(b) (pertaining to certain limitations on the use of prescribed tables), the fair market value of annuities, life estates, terms of years, remainders, and reversionary interests for estates of decedents is the present value of such interests, determined under paragraph (d) of this section. The regulations in this and in related sections provide tables with standard actuarial factors and examples that illustrate how to use the tables to compute the present value of ordinary annuity, life, and remainder interests in property. These sections also refer to standard and special actuarial factors that may be necessary to compute the present value of similar interests in more unusual fact situations.

(b) COMMERCIAL ANNUITIES AND INSURANCE CONTRACTS. The value of annuities issued by companies regularly engaged in their sale, and of insurance policies on the lives of persons other than the decedent, is determined under section 20.2031-8. See section 20.2042-1 with respect to insurance policies on the decedent's life.

(c) ACTUARIAL VALUATIONS BEFORE MAY 1, 1989. The present value of annuities, life estates, terms of years, remainders, and reversions for estates of decedents for which the valuation date of the gross estate is before May 1, 1989, is determined under the following sections:

    Valuation Date

 

    ______________                        Applicable

 

  After         Before                    Section

 

  _____         ______                   __________

 

    -          01-01-52                 20.2031-7A(a)

 

 12-31-51      01-01-71                 20.2031-7A(b)

 

 12-31-70      12-01-83                 20.2031-7A(c)

 

 11-30-83      05-01-89                 20.2031-7A(d)

 

 

(d) ACTUARIAL VALUATIONS AFTER APRIL 30, 1989 -- (1) IN GENERAL. Except as otherwise provided in paragraph (b) of this section and section 20.7520-3(b) (pertaining to certain limitations on the use of prescribed tables), if the valuation date for the gross estate of the decedent is after April 30, 1989, the fair market value of annuities, life estates, terms of years, remainders, and reversionary interests is their present value determined by use of standard or special section 7520 actuarial factors. These factors are derived by using the appropriate section 7520 interest rate and, if applicable, the mortality component for the valuation date of the interest that is being valued. See sections 20.7520-1 through 20.7520-4.

(2) SPECIFIC INTERESTS -- (i) CHARITABLE REMAINDER TRUSTS. The fair market value of a remainder interest in a pooled income fund, as defined in section 1.642(c)-5 of this chapter, is its value determined under section 1.642(c)-6(e) of this chapter. The fair market value of a remainder interest in a charitable remainder annuity trust, as defined in section 1.664-2(a) of this chapter, is its present value determined under section 1.664-2(c) of this chapter. The fair market value of a remainder interest in a charitable remainder unitrust, as defined in section 1.664-3 of this chapter, is its present value determined under section 1.664-4(e) of this chapter. The fair market value of a life interest or term of years in a charitable remainder unitrust is the fair market value of the property as of the date of valuation less the fair market value of the remainder interest on that date determined under section 1.664-4(e) of this chapter.

(ii) ORDINARY REMAINDER AND REVERSIONARY INTERESTS. If the interest to be valued is to take effect after a definite number of years or after the death of one individual, the present value of the interest is computed by multiplying the value of the property by the appropriate remainder interest actuarial factor (that corresponds to the applicable section 7520 interest rate and remainder interest period) in Table B (for a term certain) or Table S (for one measuring life), as the case may be. Tables B and S are included in paragraph (d)(6) of this section and in Internal Revenue Service Publication 1457. For information about obtaining actuarial factors for other types of remainder interests, see paragraph (d)(4) of this section.

(iii) ORDINARY TERM-OF-YEARS AND LIFE INTERESTS. If the interest to be valued is the right of a person to receive the income of certain property, or to use certain nonincome-producing property, for a term of years or for the life of one individual, the present value of the interest is computed by multiplying the value of the property by the appropriate term-of-years or life interest actuarial factor (that corresponds to the applicable section 7520 interest rate and term-of-years or life interest period). Internal Revenue Service Publication 1457 includes actuarial factors for an interest for a term of years in Table B and for the life of one individual in Table S. However, term-of-years and life interest actuarial factors are not included in Table B or Table S in section 20.2031-7(d)(6) of this chapter. If Internal Revenue Service Publication 1457 (or any other reliable source of term-of-years and life interest actuarial factors) is not conveniently available, an actuarial factor for the interest may be derived mathematically. This actuarial factor may be derived by subtracting the correlative remainder factor (that corresponds to the applicable section 7520 interest rate and the term of years or the life) in Table B (for a term of years) or in Table S (for the life of one individual) in section 20.2031-7(d)(6), as the case may be, from 1.000000. For information about obtaining actuarial factors for other types of term-of-years and life interests, see paragraph (d)(4) of this section.

(iv) ANNUITIES. (A) If the interest to be valued is the right of a person to receive an annuity that is payable at the end of each year for a term of years or for the life of one individual, the present value of the interest is computed by multiplying the aggregate amount payable annually by the appropriate annuity actuarial factor (that corresponds to the applicable section 7520 interest rate and annuity period). Internal Revenue Publication 1457 includes actuarial factors in Table B (for an annuity payable for a term of years) and in Table S (for an annuity payable for the life of one individual). However, annuity actuarial factors are not included in Table B or Table S in paragraph (d)(6) of this section. If Internal Revenue Service Publication 1457 (or any other reliable source of annuity actuarial factors) is not conveniently available, a required annuity factor for a term of years or for one life may be mathematically derived. This annuity factor may be derived by subtracting the applicable remainder factor (that corresponds to the applicable section 7520 interest rate and annuity period) in Table B (in the case of a term-of-years annuity) or in Table S (in the case of a one-life annuity) in paragraph (d)(6) of this section, as the case may be, from 1.000000 and then dividing the result by the applicable section 7520 interest rate expressed as a decimal number.

(B) If the annuity is payable at the end of semiannual, quarterly, monthly, or weekly periods, the product obtained by multiplying the annuity factor by the aggregate amount payable annually is then multiplied by the applicable adjustment factor set forth in Table K for payments made at the end of the specified periods. The provisions of this paragraph (d)(2)(iv)(B) are illustrated by the following example:

EXAMPLE. At the time of the decedent's death in January 1990, the annuitant, age 72, is entitled to receive an annuity of $15,000 a year for life payable in equal monthly installments at the end of each period. The section 7520 rate for January 1990 is 9.6 percent. Under Table S, the remainder factor at 9.6 percent for an individual aged 72 is .40138. By converting the remainder factor to an annuity factor, as described above, the annuity factor at 9.6 percent for an individual aged 72 is 6.2356 (1.00000 minus .40138, divided by .096). Under Table K, the adjustment factor under the column for payments made at the end of each monthly period at the rate of 9.6 percent is 1.0433. The aggregate annual amount, $15,000, is multiplied by the factor 6.2356 and the product multiplied by 1.0433. The present value of the annuity at the date of the decedent's death is, therefore, $97,584.02 ($15,000 x 6.2356 x 1.0433).

(C) If an annuity is payable at the beginning of annual, semiannual, quarterly, monthly, or weekly periods for a term of years, the value of the annuity is computed by multiplying the aggregate amount payable annually by the annuity factor described in paragraph (d)(2)(iv)(A) of this section; and the product so obtained is then multiplied by the adjustment factor in Table J at the appropriate interest rate component for payments made at the beginning of specified periods. If an annuity is payable at the beginning of annual, semiannual, quarterly, monthly, or weekly periods for one or more lives, the value of the annuity is the sum of the first payment plus the present value of a similar annuity, the first payment of which is not to be made until the end of the payment period, determined as provided in this paragraph (d)(2)(iv).

(v) ANNUITY AND UNITRUST INTERESTS FOR A TERM OF YEARS OR UNTIL THE PRIOR DEATH OF AN INDIVIDUAL. See section 25.2512-5(d)(2)(v) of this chapter for examples explaining how to compute the present value of an annuity or unitrust interest that is payable until the earlier of the lapse of a specific number of years or the death of an individual.

(3) TRANSITIONAL RULE. (i) If the valuation date is after April 30, 1989, and before June 10, 1994, a taxpayer can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See section 601.601(d)(2)(ii)(b) of this chapter).

(ii) If a decedent dies after April 30, 1989, and if on May 1, 1989, the decedent was mentally incompetent so that the disposition of the decedent's property could not be changed, and the decedent dies without having regained competency to dispose of the decedent's property or dies within 90 days of the date on which the decedent first regains competency, the fair market value of annuities, life estates, terms for years, remainders, and reversions included in the gross estate of the decedent is their present value determined either under this section or under the corresponding section applicable at the time the decedent became mentally incompetent, at the option of the decedent's executor. For example, see section 20.2031-7A(d).

(4) PUBLICATIONS AND ACTUARIAL COMPUTATIONS BY THE INTERNAL REVENUE SERVICE. Many standard actuarial factors not included in paragraph (d)(6) of this section are included in Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8-89). Publication 1457 also includes examples that illustrate how to compute many special factors for more unusual situations. A copy of this publication may be purchased from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. If a special factor is required in the case of an actual decedent, the Service may furnish the factor to the executor upon a request for a ruling. The request for a ruling must be accompanied by a recitation of the facts including a statement of the date of birth for each measuring life, the date of the decedent's death, any other applicable dates, and a copy of the will, trust, or other relevant documents. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see sections 601.201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee.

(5) EXAMPLES. The provisions of this section are illustrated by the following examples:

EXAMPLE 1. REMAINDER PAYABLE AT AN INDIVIDUAL'S DEATH. The decedent, or the decedent's estate, was entitled to receive certain property worth $50,000 upon the death of the decedent's elder sister, to whom the income was bequeathed for life. The decedent died in February 1990. At the time of the decedent's death, the elder sister was 47 years 5 months old. In February 1990, the section 7520 rate was 9.8 percent. Under Table S in paragraph (d)(6) of this section, the remainder factor at 9.8 percent for determining the present value of the remainder interest due at the death of a person aged 47, the number of years nearest the elder sister's actual age at the decedent's death, is .11352. The present value of the remainder interest at the date of the decedent's death is, therefore, $5,676.00 ($50,000 X .11352).

EXAMPLE 2. INCOME PAYABLE FOR AN INDIVIDUAL'S LIFE. A's parent bequeathed an income interest in property to A for life, with the remainder interest passing to B at A's death. At the time of the parent's death in October 1989, the value of the property was $50,000 and A was 30 years 10 months old. The section 7520 rate in October 1989 was 10.2 percent. Under Table S in paragraph (d)(6) of this section, the remainder factor at 10.2 percent for determining the present value of the remainder interest due at the death of a person aged 31, the number of years closest to A's age at the decedent's death, is .03753. Converting this remainder factor to an income factor, as described in paragraph (d)(2)(iii) of this section, the factor for determining the present value of an income interest for the life of a person aged 31 is .96247. The present value of A's interest at the time of the parent's death is, therefore, $48,123.50 ($50,000 X .96247).

EXAMPLE 3. ANNUITY PAYABLE FOR AN INDIVIDUAL'S LIFE. A purchased an annuity for the benefit of both A and B. Under the terms of the annuity contract, at A's death, a survivor annuity of $10,000 a year payable in equal semiannual installments made at the end of each interval is payable to B for life. A died in September 1989. For September 1989, the section 7520 rate was 9.6 percent. At A's death, B was 45 years 7 months old. Under Table S in paragraph (d)(6) of this section, the factor at 9.6 percent for determining the present value of the remainder interest at the death of a person age 46 (the number of years nearest B's actual age) is .11013. By converting the factor to an annuity factor, as described in paragraph (d)(2)(iv) of this section, the factor for the present value of an annuity payable until the death of a person age 46 is 9.2695 (1.00000 minus .11013, divided by .096). The adjustment factor from Table K in paragraph (d)(6) of this section at an interest rate of 9.6 percent for semiannual annuity payments made at the end of the period is 1.0235. The present value of the annuity at the date of A's death is, therefore, $94,873.33 ($10,000 X 9.2695 X 1.0235).

EXAMPLE 4. ANNUITY PAYABLE FOR A TERM OF YEARS. The decedent, or the decedent's estate, was entitled to receive an annuity of $10,000 a year payable in equal quarterly installments at the end of each quarter throughout a term certain. The decedent died in February 1990. For February 1990, the section 7520 rate was 9.8 percent. A quarterly payment had just been made prior to the decedent's death and payments were to continue for 5 more years. Under Table B in paragraph (d)(6) of this section for the interest rate of 9.8 percent, the factor for the present value of a remainder interest due after a term of 5 years is .626597. Converting the factor to an annuity factor, as described in paragraph (d)(2)(iv) of this section, the factor for the present value of an annuity for a term of 5 years is 3.8102. The adjustment factor from Table K in paragraph (d)(6) of this section at an interest rate of 9.8 percent for quarterly annuity payments made at the end of the period is 1.0360. The present value of the annuity is, therefore, $39,473.67 ($10,000 X 3.8102 X 1.0360).

(6) ACTUARIAL TABLES. Except as provided in section 20.7520-3(b) (pertaining to certain limitations on the use of prescribed tables), the following tables must be used in the application of the provisions of this section when the section 7520 interest rate component is between 4.2 and 14 percent.

 TABLE B

 

 TERM CERTAIN REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 YEARS  4.2%      4.4%      4.6%      4.8%      5.0%

 

 1   .959693   .957854   .956023   .954198   .952381

 

 2   .921010   .917485   .913980   .910495   .907029

 

 3   .883887   .878817   .873786   .868793   .863838

 

 4   .848260   .841779   .835359   .829001   .822702

 

 5   .814069   .806302   .798623   .791031   .783526

 

 6   .781257   .772320   .763501   .754801   .746215

 

 7   .749766   .739770   .729925   .720230   .710681

 

 8   .719545   .708592   .697825   .687242   .676839

 

 9   .690543   .678728   .667137   .655765   .644609

 

 10   .662709   .650122   .637798   .625730   .613913

 

 11   .635997   .622722   .609750   .597071   .584679

 

 12   .610362   .596477   .582935   .569724   .556837

 

 13   .585760   .571339   .557299   .543630   .530321

 

 14   .562150   .547259   .532790   .518731   .505068

 

 15   .539491   .524195   .509360   .494972   .481017

 

 16   .517746   .502102   .486960   .472302   .458112

 

 17   .496877   .480941   .465545   .450670   .436297

 

 18   .476849   .460671   .445071   .430028   .415521

 

 19   .457629   .441256   .425498   .410332   .395734

 

 20   .439183   .422659   .406786   .391538   .376889

 

 21   .421481   .404846   .388897   .373605   .358942

 

 22   .404492   .387783   .371794   .356494   .341850

 

 23   .388188   .371440   .355444   .340166   .325571

 

 24   .372542   .355785   .339813   .324586   .310068

 

 25   .357526   .340791   .324869   .309719   .295303

 

 26   .343115   .326428   .310582   .295533   .281241

 

 27   .329285   .312670   .296923   .281998   .267848

 

 28   .316012   .299493   .283866   .269082   .255094

 

 29   .303275   .286870   .271382   .256757   .242946

 

 30   .291051   .274780   .259447   .244997   .231377

 

 31   .279319   .263199   .248038   .233776   .220359

 

 32   .268061   .252106   .237130   .223069   .209866

 

 33   .257256   .241481   .226702   .212852   .199873

 

 34   .246887   .231304   .216732   .203103   .190355

 

 35   .236935   .221556   .207201   .193801   .181290

 

 36   .227385   .212218   .198089   .184924   .172657

 

 37   .218220   .203274   .189377   .176454   .164436

 

 38   .209424   .194707   .181049   .168373   .156605

 

 39   .200983   .186501   .173087   .160661   .149148

 

 40   .192882   .178641   .165475   .153302   .142046

 

 41   .185107   .171112   .158198   .146281   .135282

 

 42   .177646   .163900   .151241   .139581   .128840

 

 43   .170486   .156992   .144590   .133188   .122704

 

 44   .163614   .150376   .138231   .127088   .116861

 

 45   .157019   .144038   .132152   .121267   .111297

 

 46   .150690   .137968   .126340   .115713   .105997

 

 47   .144616   .132153   .120784   .110413   .100949

 

 48   .138787   .126583   .115473   .105356   .096142

 

 49   .133193   .121248   .110395   .100530   .091564

 

 50   .127824   .116138   .105540   .095926   .087204

 

 51   .122672   .111243   .100898   .091532   .083051

 

 52   .117728   .106555   .096461   .087340   .079096

 

 53   .112982   .102064   .092219   .083340   .075330

 

 54   .108428   .097763   .088164   .079523   .071743

 

 55   .104058   .093642   .084286   .075880   .068326

 

 56   .099864   .089696   .080580   .072405   .065073

 

 57   .095839   .085916   .077036   .069089   .061974

 

 58   .091976   .082295   .073648   .065924   .059023

 

 59   .088268   .078826   .070409   .062905   .056212

 

 60   .084710   .075504   .067313   .060024   .053536

 

 (Table continued)

 

 YEARS  5.2%      5.4%      5.6%      5.8%     6.0%

 

 1   .950570   .948767   .946970   .945180   .943396

 

 2   .903584   .900158   .896752   .893364   .889996

 

 3   .858920   .854040   .849197   .844390   .839619

 

 4   .816464   .810285   .804163   .798100   .792094

 

 5   .776106   .768771   .761518   .754348   .747258

 

 6   .737744   .729384   .721135   .712994   .704961

 

 7   .701277   .692015   .682893   .673908   .665057

 

 8   .666613   .656561   .646679   .636964   .627412

 

 9   .633663   .622923   .612385   .602045   .591898

 

 10   .602341   .591009   .579910   .569041   .558395

 

 11   .572568   .560729   .549157   .537846   .526788

 

 12   .544266   .532001   .520035   .508361   .486969

 

 13   .517363   .504745   .492458   .480492   .468839

 

 14   .491790   .478885   .466343   .454151   .442301

 

 15   .467481   .454350   .441612   .429255   .417265

 

 16   .444374   .431072   .418194   .405723   .393646

 

 17   .422408   .408987   .396017   .383481   .371364

 

 18   .401529   .388033   .375016   .362458   .350344

 

 19   .381681   .368153   .355129   .342588   .330513

 

 20   .362815   .349291   .336296   .323807   .311805

 

 21   .344881   .331396   .318462   .306056   .294155

 

 22   .327834   .314417   .301574   .289278   .277505

 

 23   .311629   .298309   .285581   .273420   .261797

 

 24   .296225   .283025   .270437   .258431   .246979

 

 25   .281583   .268525   .256096   .244263   .232999

 

 26   .267664   .254768   .242515   .230873   .219810

 

 27   .254434   .241715   .229654   .218216   .207368

 

 28   .241857   .229331   .217475   .206253   .195630

 

 29   .229902   .217582   .205943   .194947   .184557

 

 30   .218538   .206434   .195021   .184260   .174110

 

 31   .207736   .195858   .184679   .174158   .164255

 

 32   .197468   .185823   .174886   .164611   .154957

 

 33   .187707   .176303   .165612   .155587   .146186

 

 34   .178429   .167270   .156829   .147058   .137912

 

 35   .169609   .158701   .148512   .138996   .130105

 

 36   .161225   .150570   .140637   .131376   .122741

 

 37   .153256   .142856   .133179   .124174   .115793

 

 38   .145681   .135537   .126116   .117367   .109239

 

 39   .138480   .128593   .119428   .110933   .103056

 

 40   .131635   .122004   .113095   .104851   .097222

 

 41   .125128   .115754   .107098   .099103   .091719

 

 42   .118943   .109823   .101418   .093670   .086527

 

 43   .113064   .104197   .096040   .088535   .081630

 

 44   .107475   .098858   .090947   .083682   .077009

 

 45   .102163   .093793   .086124   .079094   .072650

 

 46   .097113   .088988   .081557   .074758   .068538

 

 47   .092312   .084429   .077232   .070660   .064658

 

 48   .087749   .080103   .073136   .066786   .060998

 

 49   .083412   .075999   .069258   .063125   .057546

 

 50   .079289   .072106   .065585   .059665   .054288

 

 51   .075370   .068411   .062107   .056394   .051215

 

 52   .071644   .064907   .058813   .053302   .048316

 

 53   .068103   .061581   .055695   .050380   .045582

 

 54   .064737   .058426   .052741   .047618   .043001

 

 55   .061537   .055433   .049944   .045008   .040567

 

 56   .058495   .052593   .047296   .042541   .038271

 

 57   .055604   .049898   .044787   .040208   .036105

 

 58   .052855   .047342   .042412   .038004   .034061

 

 59   .050243   .044916   .040163   .035921   .032133

 

 60   .047759   .042615   .038033   .033952   .030314

 

 (table continued)

 

 YEARS  6.2%      6.4%      6.6%      6.8%      7.0%

 

 1   .941620   .939850   .938086   .936330   .934579

 

 2   .886647   .883317   .880006   .876713   .873439

 

 3   .834885   .830185   .825521   .820892   .816298

 

 4   .786144   .780249   .774410   .768626   .762895

 

 5   .740248   .733317   .726464   .719687   .712986

 

 6   .697032   .689208   .681486   .673864   .666342

 

 7   .656339   .647752   .639292   .630959   .622750

 

 8   .618022   .608789   .599711   .590786   .582009

 

 9   .581942   .572170   .562581   .553170   .543934

 

 10   .547968   .537754   .527750   .517950   .508349

 

 11   .515977   .505408   .495075   .484972   .475093

 

 12   .485854   .475007   .464423   .454093   .444012

 

 13   .457490   .446436   .435669   .425181   .414964

 

 14   .430781   .419582   .408695   .398109   .387817

 

 15   .405632   .394344   .383391   .372762   .362446

 

 16   .381951   .370624   .359654   .349028   .338735

 

 17   .359653   .348331   .337386   .326805   .316574

 

 18   .338656   .327379   .316498   .305997   .295864

 

 19   .318885   .307687   .296902   .286514   .276508

 

 20   .300268   .289179   .278520   .268272   .258419

 

 21   .282739   .271785   .261276   .251191   .241513

 

 22   .266232   .255437   .245099   .235197   .225713

 

 23   .250689   .240073   .229924   .220222   .210947

 

 24   .236054   .225632   .215689   .206201   .197147

 

 25   .222273   .212060   .202334   .193072   .184249

 

 26   .209297   .199305   .189807   .180779   .172195

 

 27   .197078   .187317   .178056   .169269   .160930

 

 28   .185572   .176049   .167031   .158491   .150402

 

 29   .174739   .165460   .156690   .148400   .140563

 

 30   .164537   .155507   .146989   .138951   .131367

 

 31   .154932   .146154   .137888   .130104   .122773

 

 32   .145887   .137362   .129351   .121820   .114741

 

 33   .137370   .129100   .121342   .114064   .107235

 

 34   .129350   .121335   .113830   .106802   .100219

 

 35   .121798   .114036   .106782   .100001   .093663

 

 36   .114688   .107177   .100171   .093634   .087535

 

 37   .107992   .100730   .093969   .087673   .081809

 

 38   .101688   .094671   .088151   .082090   .076457

 

 39   .095751   .088977   .082693   .076864   .071455

 

 40   .090161   .083625   .077573   .071970   .066780

 

 41   .084887   .078595   .072770   .067387   .062412

 

 42   .079941   .073867   .068265   .063097   .058329

 

 43   .075274   .069424   .064038   .059079   .054513

 

 44   .070880   .065248   .060074   .055318   .050946

 

 45   .066742   .061323   .056354   .051796   .047613

 

 46   .062845   .057635   .052865   .048498   .044499

 

 47   .059176   .054168   .049592   .045410   .041587

 

 48   .055722   .050910   .046522   .042519   .038867

 

 49   .052469   .047848   .043641   .039812   .036324

 

 50   .049405   .044970   .040939   .037277   .033948

 

 51   .046521   .042265   .038405   .034903   .031727

 

 52   .043805   .039722   .036027   .032681   .029651

 

 53   .041248   .037333   .033796   .030600   .027711

 

 54   .038840   .035087   .031704   .028652   .025899

 

 55   .036572   .032977   .029741   .026828   .024204

 

 56   .034437   .030993   .027900   .025119   .022621

 

 57   .032427   .029129   .026172   .023520   .021141

 

 58   .030534   .027377   .024552   .022023   .019758

 

 59   .028751   .025730   .023032   .020620   .018465

 

 60   .027073   .024183   .021606   .019307   .017257

 

 (table continued)

 

 YEARS  7.2%      7.4%      7.6%      7.8%      8.0%

 

 1   .932836   .931099   .929368   .927644   .925926

 

 2   .870183   .866945   .863725   .860523   .857339

 

 3   .811738   .807211   .802718   .798259   .793832

 

 4   .757218   .751593   .746021   .740500   .735030

 

 5   .706360   .699808   .693328   .686920   .680583

 

 6   .658918   .651590   .644357   .637217   .630170

 

 7   .614662   .606694   .598845   .591111   .583490

 

 8   .573379   .564892   .556547   .548340   .540269

 

 9   .534868   .525971   .517237   .508664   .500249

 

 10   .498944   .489731   .480704   .471859   .463193

 

 11   .465433   .455987   .446750   .437717   .428883

 

 12   .434173   .424569   .415196   .406046   .397114

 

 13   .405012   .395316   .385870   .376666   .367698

 

 14   .377810   .368078   .358615   .349412   .340461

 

 15   .352434   .342717   .333285   .324130   .315242

 

 16   .328763   .319103   .309745   .300677   .291890

 

 17   .306682   .297117   .287867   .278921   .270269

 

 18   .286084   .276645   .267534   .258739   .250249

 

 19   .266870   .257584   .248638   .240018   .231712

 

 20   .248946   .239836   .231076   .222651   .214548

 

 21   .232225   .223311   .214755   .206541   .198656

 

 22   .216628   .207925   .199586   .191596   .183941

 

 23   .202078   .193598   .185489   .177733   .170315

 

 24   .188506   .180259   .172387   .164873   .157699

 

 25   .175845   .167839   .160211   .152943   .146018

 

 26   .164035   .156275   .148895   .141877   .135202

 

 27   .153017   .145507   .138379   .131611   .125187

 

 28   .142740   .135482   .128605   .122088   .115914

 

 29   .133153   .126147   .119521   .113255   .107328

 

 30   .124210   .117455   .111079   .105060   .099377

 

 31   .115868   .109362   .103233   .097458   .092016

 

 32   .108085   .101827   .095942   .090406   .085200

 

 33   .100826   .094811   .089165   .083865   .078889

 

 34   .094054   .088278   .082867   .077797   .073045

 

 35   .087737   .082196   .077014   .072168   .067635

 

 36   .081844   .076532   .071574   .066946   .062625

 

 37   .076347   .071259   .066519   .062102   .057986

 

 38   .071219   .066349   .061821   .057609   .053690

 

 39   .066436   .061778   .057454   .053440   .049713

 

 40   .061974   .057521   .053396   .049573   .046031

 

 41   .057811   .053558   .049625   .045987   .042621

 

 42   .053929   .049868   .046120   .042659   .039464

 

 43   .050307   .046432   .042862   .039572   .036541

 

 44   .046928   .043233   .039835   .036709   .033834

 

 45   .043776   .040254   .037021   .034053   .031328

 

 46   .040836   .037480   .034406   .031589   .029007

 

 47   .038093   .034898   .031976   .029303   .026859

 

 48   .035535   .032493   .029717   .027183   .024869

 

 49   .033148   .030255   .027618   .025216   .023027

 

 50   .030922   .028170   .025668   .023392   .021321

 

 51   .028845   .026229   .023855   .021699   .019742

 

 52   .026907   .024422   .022170   .020129   .018280

 

 53   .025100   .022739   .020604   .018673   .016925

 

 54   .023414   .021172   .019149   .017322   .015672

 

 55   .021842   .019714   .017796   .016068   .014511

 

 56   .020375   .018355   .016539   .014906   .013436

 

 57   .019006   .017091   .015371   .013827   .012441

 

 58   .017730   .015913   .014285   .012827   .011519

 

 59   .016539   .014817   .013276   .011899   .010666

 

 60   .015428   .013796   .012339   .011038   .009876

 

 (table continued)

 

 YEARS  8.2%      8.4%      8.6%      8.8%      9.0%

 

 1   .924214   .922509   .920810   .919118   .917431

 

 2   .854172   .851023   .847892   .844777   .841680

 

 3   .789438   .785077   .780747   .776450   .772183

 

 4   .729610   .724241   .718920   .713649   .708425

 

 5   .674316   .668119   .661989   .655927   .649931

 

 6   .623213   .616346   .609566   .602874   .596267

 

 7   .575982   .568585   .561295   .554112   .547034

 

 8   .532331   .524524   .516846   .509294   .501866

 

 9   .491988   .483879   .475917   .468101   .460428

 

 10   .454703   .446383   .438230   .430240   .422411

 

 11   .420243   .411792   .403526   .395441   .387533

 

 12   .388394   .379882   .371571   .363457   .355535

 

 13   .358960   .350445   .342147   .334060   .326179

 

 14   .331756   .323288   .315052   .307040   .299246

 

 15   .306613   .298236   .290103   .282206   .274538

 

 16   .283376   .275126   .267130   .259381   .251870

 

 17   .261901   .253806   .245976   .238401   .231073

 

 18   .242052   .234139   .226497   .219119   .211994

 

 19   .223708   .215995   .208561   .201396   .194490

 

 20   .206754   .199257   .192045   .185107   .178431

 

 21   .191085   .183817   .176837   .170135   .163698

 

 22   .176604   .169573   .162834   .156374   .150182

 

 23   .163220   .156432   .149939   .143726   .137781

 

 24   .150850   .144310   .138065   .132101   .126405

 

 25   .139418   .133128   .127132   .121416   .115968

 

 26   .128852   .122811   .117064   .111596   .106393

 

 27   .119087   .113295   .107794   .102570   .097608

 

 28   .110062   .104515   .099258   .094274   .089548

 

 29   .101721   .096416   .091398   .086649   .082155

 

 30   .094012   .088945   .084160   .079640   .075371

 

 31   .086887   .082053   .077495   .073199   .069148

 

 32   .080302   .075694   .071358   .067278   .063438

 

 33   .074216   .069829   .065708   .061837   .058200

 

 34   .068592   .064418   .060504   .056835   .053395

 

 35   .063394   .059426   .055713   .052238   .048986

 

 36   .058589   .054821   .051301   .048013   .044941

 

 37   .054149   .050573   .047239   .044130   .041231

 

 38   .050045   .046654   .043498   .040560   .037826

 

 39   .046253   .043039   .040053   .037280   .034703

 

 40   .042747   .039703   .036881   .034264   .031838

 

 41   .039508   .036627   .033961   .031493   .029209

 

 42   .036514   .033789   .031271   .028946   .026797

 

 43   .033746   .031170   .028795   .026605   .024584

 

 44   .031189   .028755   .026515   .024453   .022555

 

 45   .028825   .026527   .024415   .022475   .020692

 

 46   .026641   .024471   .022482   .020657   .018984

 

 47   .024622   .022575   .020701   .018986   .017416

 

 48   .022756   .020825   .019062   .017451   .015978

 

 49   .021031   .019212   .017552   .016039   .014659

 

 50   .019437   .017723   .016163   .014742   .013449

 

 51   .017964   .016350   .014883   .013550   .012338

 

 52   .016603   .015083   .013704   .012454   .011319

 

 53   .015345   .013914   .012619   .011446   .010385

 

 54   .014182   .012836   .011620   .010521   .009527

 

 55   .013107   .011841   .010699   .009670   .008741

 

 56   .012114   .010923   .009852   .008888   .008019

 

 57   .011196   .010077   .009072   .008169   .007357

 

 58   .010347   .009296   .008354   .007508   .006749

 

 59   .009563   .008576   .007692   .006901   .006192

 

 60   .008838   .007911   .007083   .006343   .005681

 

 (table continued)

 

 YEARS  9.2%      9.4%      9.6%      9.8%     10.0%

 

 1   .915751   .914077   .912409   .910747   .909091

 

 2   .838600   .835536   .832490   .829460   .826446

 

 3   .767948   .763744   .759571   .755428   .751315

 

 4   .703250   .698121   .693039   .688003   .683013

 

 5   .644001   .638136   .632335   .626597   .620921

 

 6   .589745   .583305   .576948   .570671   .564474

 

 7   .540059   .533186   .526412   .519737   .513158

 

 8   .494560   .487373   .480303   .473349   .466507

 

 9   .452894   .445496   .438233   .431101   .424098

 

 10   .414738   .407218   .399848   .392624   .385543

 

 11   .379797   .372228   .364824   .357581   .350494

 

 12   .347799   .340245   .332869   .325666   .318631

 

 13   .318497   .311010   .303713   .296599   .289664

 

 14   .291664   .284287   .277110   .270127   .263331

 

 15   .267092   .259860   .252838   .246017   .239392

 

 16   .244589   .237532   .230691   .224059   .217629

 

 17   .223983   .217123   .210485   .204061   .197845

 

 18   .205113   .198467   .192048   .185848   .179859

 

 19   .187832   .181414   .175226   .169260   .163508

 

 20   .172007   .165826   .159878   .154153   .148644

 

 21   .157516   .151578   .145874   .140395   .135131

 

 22   .144245   .138554   .133097   .127864   .122846

 

 23   .132093   .126649   .121439   .116452   .111678

 

 24   .120964   .115767   .110802   .106058   .101526

 

 25   .110773   .105820   .101097   .096592   .092296

 

 26   .101441   .096727   .092241   .087971   .083905

 

 27   .092894   .088416   .084162   .080119   .076278

 

 28   .085068   .080819   .076790   .072968   .069343

 

 29   .077901   .073875   .070064   .066456   .063039

 

 30   .071338   .067527   .063927   .060524   .057309

 

 31   .065328   .061725   .058327   .055122   .052099

 

 32   .059824   .056422   .053218   .050202   .047362

 

 33   .054784   .051574   .048557   .045722   .043057

 

 34   .050168   .047142   .044304   .041641   .039143

 

 35   .045942   .043092   .040423   .037924   .035584

 

 36   .042071   .039389   .036882   .034539   .032349

 

 37   .038527   .036005   .033652   .031457   .029408

 

 38   .035281   .032911   .030704   .028649   .026735

 

 39   .032309   .030083   .028015   .026092   .024304

 

 40   .029587   .027498   .025561   .023763   .022095

 

 41   .027094   .025136   .023322   .021642   .020086

 

 42   .024811   .022976   .021279   .019711   .018260

 

 43   .022721   .021002   .019415   .017951   .016600

 

 44   .020807   .019197   .017715   .016349   .015091

 

 45   .019054   .017548   .016163   .014890   .013719

 

 46   .017449   .016040   .014747   .013561   .012472

 

 47   .015978   .014662   .013456   .012351   .011338

 

 48   .014632   .013402   .012277   .011248   .010307

 

 49   .013400   .012250   .011202   .010244   .009370

 

 50   .012271   .011198   .010221   .009330   .008519

 

 51   .011237   .010236   .009325   .008497   .007744

 

 52   .010290   .009356   .008508   .007739   .007040

 

 53   .009423   .008552   .007763   .007048   .006400

 

 54   .008629   .007817   .007083   .006419   .005818

 

 55   .007902   .007146   .006463   .005846   .005289

 

 56   .007237   .006532   .005897   .005324   .004809

 

 57   .006627   .005971   .005380   .004849   .004371

 

 58   .006069   .005458   .004909   .004416   .003974

 

 59   .005557   .004989   .004479   .004022   .003613

 

 60   .005089   .004560   .004087   .003663   .003284

 

 (table continued)

 

 YEARS  10.2%     10.4%     10.6%     10.8%     11.0%

 

 1   .907441   .905797   .904159   .902527   .900901

 

 2   .823449   .820468   .817504   .814555   .811622

 

 3   .747232   .743178   .739153   .735158   .731191

 

 4   .678069   .673168   .668312   .663500   .658731

 

 5   .615307   .609754   .604261   .598827   .593451

 

 6   .558355   .552313   .546348   .540457   .534641

 

 7   .506674   .500284   .493985   .487777   .481658

 

 8   .459777   .453156   .446641   .440232   .433926

 

 9   .417221   .410467   .403835   .397322   .390925

 

 10   .378603   .371800   .365131   .358593   .352184

 

 11   .343560   .336775   .330137   .323640   .317283

 

 12   .311760   .305050   .298496   .292094   .285841

 

 13   .282904   .276313   .269888   .263623   .257514

 

 14   .256719   .250284   .244022   .237927   .231995

 

 15   .232957   .226706   .220634   .214735   .209004

 

 16   .211395   .205350   .199489   .193804   .188292

 

 17   .191828   .186005   .180369   .174914   .169633

 

 18   .174073   .168483   .163083   .157864   .152822

 

 19   .157961   .152612   .147453   .142477   .137678

 

 20   .143340   .138235   .133321   .128589   .124034

 

 21   .130073   .125213   .120543   .1l6055   .111742

 

 22   .118033   .113418   .108990   .104743   .100669

 

 23   .107108   .102733   .098544   .094533   .090693

 

 24   .097195   .093056   .089100   .085319   .081705

 

 25   .088198   .084289   .080560   .077003   .073608

 

 26   .080035   .076349   .072839   .069497   .066314

 

 27   .072627   .069157   .065858   .062723   .059742

 

 28   .065905   .062642   .059547   .056609   .053822

 

 29   .059804   .056741   .053840   .051091   .048488

 

 30   .054269   .051396   .048680   .046111   .043683

 

 31   .049246   .046554   .044014   .041617   .039354

 

 32   .044688   .042169   .039796   .037560   .035454

 

 33   .040552   .038196   .035982   .033899   .031940

 

 34   .036798   .034598   .032533   .030595   .028775

 

 35   .033392   .031339   .029415   .027613   .025924

 

 36   .030301   .028387   .026596   .024921   .023355

 

 37   .027497   .025712   .024047   .022492   .021040

 

 38   .024952   .023290   .021742   .020300   .018955

 

 39   .022642   .021096   .019658   .018321   .017077

 

 40   .020546   .019109   .017774   .016535   .015384

 

 41   .018645   .017309   .016071   .014923   .013860

 

 42   .016919   .015678   .014531   .013469   .012486

 

 43   .015353   .014201   .013138   .012156   .011249

 

 44   .013932   .012864   .011879   .010971   .010134

 

 45   .012642   .011652   .010740   .009902   .009130

 

 46   .011472   .010554   .009711   .008937   .008225

 

 47   .010410   .009560   .008780   .008065   .007410

 

 48   .009447   .008659   .007939   .007279   .006676

 

 49   .008572   .007844   .007178   .006570   .006014

 

 50   .007779   .007105   .006490   .005929   .005418

 

 51   .007059   .006435   .005868   .005351   .004881

 

 52   .006406   .005829   .005306   .004830   .004397

 

 53   .005813   .005280   .004797   .004359   .003962

 

 54   .005275   .004783   .004337   .003934   .003569

 

 55   .004786   .004332   .003922   .003551   .003215

 

 56   .004343   .003924   .003546   .003205   .002897

 

 57   .003941   .003554   .003206   .002892   .002610

 

 58   .003577   .003220   .002899   .002610   .002351

 

 58   .003246   .002916   .002621   .002356   .002118

 

 60   .002945   .002642   .002370   .002126   .001908

 

 (table continued)

 

 YEARS 11.2%     11.4%      11.6%     11.8%    12.0%

 

 1   .899281   .897666   .896057   .894454   .892857

 

 2   .808706   .805804   .802919   .800049   .797194

 

 3   .727253   .723343   .719461   .715607   .711780

 

 4   .654005   .649321   .644679   .640078   .635518

 

 5   .588134   .582873   .577669   .572520   .567427

 

 6   .528897   .523225   .517625   .512093   .506631

 

 7   .475627   .469682   .463821   .458044   .452349

 

 8   .427722   .421617   .415610   .409700   .403883

 

 9   .384642   .378472   .372411   .366458   .360610

 

 10   .345901   .339741   .333701   .327780   .321973

 

 11   .311062   .304974   .299016   .293184   .287476

 

 12   .279732   .273765   .267935   .262240   .256675

 

 13   .251558   .245749   .240085   .234561   .229174

 

 14   .226221   .220601   .215130   .209804   .204620

 

 15   .203436   .198026   .192769   .187661   .182696

 

 16   .182946   .177761   .172732   .167854   .163122

 

 17   .164520   .159570   .154778   .150138   .145644

 

 18   .147950   .143241   .138690   .134291   .130040

 

 19   .133048   .128582   .124274   .120117   .116107

 

 20   .119648   .115424   .111357   .107439   .103667

 

 21   .107597   .103612   .099782   .096100   .092560

 

 22   .096760   .093009   .089410   .085957   .082643

 

 23   .087014   .083491   .080117   .076884   .073788

 

 24   .078250   .074947   .071789   .068770   .065882

 

 25   .070369   .067278   .064327   .061511   .058823

 

 26   .063281   .060393   .057641   .055019   .052521

 

 27   .056908   .054213   .051650   .049212   .046894

 

 28   .051176   .048665   .046281   .044018   .041869

 

 29   .046022   .043685   .041470   .039372   .037383

 

 30   .041386   .039214   .037160   .035216   .033378

 

 31   .037218   .035201   .033297   .031500   .029802

 

 32   .033469   .031599   .029836   .028175   .026609

 

 33   .030098   .028365   .026735   .025201   .023758

 

 34   .027067   .025463   .023956   .022541   .021212

 

 35   .024341   .022857   .021466   .020162   .018940

 

 36   .021889   .020518   .019235   .018034   .016910

 

 37   .019684   .018418   .017236   .016131   .015098

 

 38   .017702   .016533   .015444   .014428   .013481

 

 39   .015919   .014841   .013839   .012905   .012036

 

 40   .014316   .013323   .012400   .011543   .010747

 

 41   .012874   .011959   .011111   .010325   .009595

 

 42   .011577   .010735   .009956   .009235   .008567

 

 43   .010411   .009637   .008922   .008260   .007649

 

 44   .009362   .008651   .007994   .007389   .006830

 

 45   .008419   .007765   .007163   .006609   .006098

 

 46   .007571   .006971   .006419   .005911   .005445

 

 47   .006809   .006257   .005752   .005287   .004861

 

 48   .006123   .005617   .005154   .004729   .004340

 

 49   .005506   .005042   .004618   .004230   .003875

 

 50   .004952   .004526   .004138   .003784   .003460

 

 51   .004453   .004063   .003708   .003384   .003089

 

 52   .004005   .003647   .003322   .003027   .002758

 

 53   .003601   .003274   .002977   .002708   .002463

 

 54   .003238   .002939   .002668   .002422   .002199

 

 55   .002912   .002638   .002390   .002166   .001963

 

 56   .002619   .002368   .002142   .001938   .001753

 

 57   .002355   .002126   .001919   .001733   .001565

 

 58   .002118   .001908   .001720   .001550   .001398

 

 58   .001905   .001713   .001541   .001387   .001248

 

 60   .001713   .001538   .001381   .001240   .001114

 

 (table continued)

 

 YEARS  12.2%     12.4%     12.6%     12.8%     13.0%

 

 1   .891266   .889680   .888099   .886525   .884956

 

 2   .794354   .791530   .788721   .785926   .783147

 

 3   .707981   .704208   .700462   .696743   .693050

 

 4   .630999   .626520   .622080   .617680   .613319

 

 5   .562388   .557402   .552469   .547589   .542760

 

 6   .501237   .495809   .490648   .485451   .480319

 

 7   .446735   .441200   .435744   .430364   .425061

 

 8   .398160   .392527   .386984   .381529   .376160

 

 9   .354866   .349223   .343680   .338235   .332885

 

 10   .316280   .310697   .305222   .299853   .294588

 

 11   .281889   .276421   .271068   .265827   .260698

 

 12   .251238   .245926   .240735   .235663   .230706

 

 13   .223920   .218795   .213797   .208921   .204165

 

 14   .199572   .194658   .189873   .185213   .180677

 

 15   .177872   .173183   .168626   .164196   .159891

 

 16   .158531   .154077   .149757   .145564   .141496

 

 17   .141293   .137080   .132999   .129046   .125218

 

 18   .125930   .121957   .118116   .114403   .110812

 

 19   .112237   .108503   .104899   .101421   .098064

 

 20   .100033   .096533   .093161   .089912   .086782

 

 21   .089156   .085883   .082736   .079709   .076798

 

 22   .079462   .076408   .073478   .070664   .067963

 

 23   .070821   .067979   .065255   .062646   .060144

 

 24   .063121   .060480   .057953   .055537   .053225

 

 25   .056257   .053807   .051468   .049235   .047102

 

 26   .050140   .047871   .045709   .043648   .041683

 

 27   .044688   .042590   .040594   .038695   .036888

 

 28   .039829   .037892   .036052   .034304   .032644

 

 29   .035498   .033711   .032017   .030411   .028889

 

 30   .031638   .029992   .028435   .026960   .025565

 

 31   .028198   .026684   .025253   .023901   .022624

 

 32   .025132   .023740   .022427   .021189   .020021

 

 33   .022399   .021121   .019917   .018785   .017718

 

 34   .019964   .018791   .017689   .016653   .015680

 

 35   .017793   .016718   .015709   .014763   .013876

 

 36   .015858   .014873   .013951   .013088   .012279

 

 37   .014134   .013233   .012390   .011603   .010867

 

 38   .012597   .011773   .011004   .010286   .009617

 

 39   .011227   .010474   .009772   .009119   .008510

 

 40   .010007   .009319   .008679   .008084   .007531

 

 41   .008919   .008291   .007708   .007167   .006665

 

 42   .007949   .007376   .006845   .006354   .005898

 

 43   .007084   .006562   .006079   .005633   .005219

 

 44   .006314   .005838   .005399   .004993   .004619

 

 45   .005628   .005194   .004795   .004427   .004088

 

 46   .005016   .004621   .004258   .003924   .003617

 

 47   .004470   .004111   .003782   .003479   .003201

 

 48   .003984   .003658   .003359   .003084   .002833

 

 49   .003551   .003254   .002983   .002734   .002507

 

 50   .003165   .002895   .002649   .002424   .002219

 

 51   .002821   .002576   .002353   .002149   .001963

 

 52   .002514   .002292   .002089   .001905   .001737

 

 53   .002241   .002039   .001856   .001689   .001538

 

 54   .001997   .001814   .001648   .001497   .001361

 

 55   .001780   .001614   .001463   .001327   .001204

 

 56   .001586   .001436   .001300   .001177   .001066

 

 57   .001414   .001277   .001154   .001043   .000943

 

 58   .001260   .001136   .001025   .000925   .000835

 

 59   .001123   .001011   .000910   .000820   .000739

 

 60   .001001   .000900   .000809   .000727   .000654

 

 (table continued)

 

 YEARS  13.2%     13.4%    13.6%      13.8%     14.0%

 

 1   .883392   .881834   .880282   .878735   .877193

 

 2   .780382   .777632   .774896   .772175   .769468

 

 3   .689383   .685742   .682127   .678536   .674972

 

 4   .608996   .604711   .600464   .596254   .592080

 

 5   .537982   .533255   .528577   .523949   .519369

 

 6   .475249   .470242   .465297   .460412   .455587

 

 7   .419831   .414676   .409592   .404580   .399637

 

 8   .370876   .365675   .360557   .355518   .350559

 

 9   .327629   .322465   .317391   .312406   .307508

 

 10   .289425   .284361   .279394   .274522   .269744

 

 11   .255676   .250759   .245945   .241232   .236617

 

 12   .225862   .221128   .216501   .211979   .207559

 

 13   .199525   .194998   .190582   .186273   .182069

 

 14   .176258   .171956   .167766   .163685   .159710

 

 15   .155705   .151637   .147681   .143835   .140096

 

 16   .137549   .133718   .130001   .126393   .122892

 

 17   .121510   .117917   .114438   .111066   .107800

 

 18   .107341   .103984   .100737   .097598   .094561

 

 19   .094824   .091696   .088677   .085762   .082948

 

 20   .083767   .080861   .078061   .075362   .072762

 

 21   .073999   .071306   .068716   .066224   .063826

 

 22   .065370   .062880   .060489   .058193   .055988

 

 23   .057747   .055450   .053247   .051136   .049112

 

 24   .051014   .048898   .046873   .044935   .043081

 

 25   .045065   .043119   .041261   .039486   .037790

 

 26   .039810   .038024   .036321   .034698   .033149

 

 27   .035168   .033531   .031973   .030490   .029078

 

 28   .031067   .029569   .028145   .026793   .025507

 

 29   .027444   .026075   .024776   .023544   .022375

 

 30   .024244   .022994   .021810   .020689   .019627

 

 31   .021417   .020277   .019199   .018180   .017217

 

 32   .018920   .017881   .016900   .015975   .015102

 

 33   .016714   .015768   .014877   .014038   .013248

 

 34   .014765   .013905   .013096   .012336   .011621

 

 35   .013043   .012261   .011528   .010840   .010194

 

 36   .011522   .010813   .010148   .009525   .008942

 

 37   .010178   .009535   .008933   .008370   .007844

 

 38   .008992   .008408   .007864   .007355   .006880

 

 39   .007943   .007415   .006922   .006463   .006035

 

 40   .007017   .006538   .006093   .005679   .005294

 

 41   .006199   .005766   .005364   .004991   .004644

 

 42   .005476   .005085   .004722   .004386   .004074

 

 43   .004837   .004484   .004157   .003854   .003573

 

 44   .004273   .003954   .003659   .003386   .003135

 

 45   .003775   .003487   .003221   .002976   .002750

 

 46   .003335   .003075   .002835   .002615   .002412

 

 47   .002946   .002711   .002496   .002298   .002116

 

 48   .002602   .002391   .002197   .002019   .001856

 

 49   .002299   .002108   .001934   .001774   .001628

 

 50   .002031   .001859   .001702   .001559   .001428

 

 51   .001794   .001640   .001499   .001370   .001253

 

 52   .001585   .001446   .001319   .001204   .001099

 

 53   .001400   .001275   .001161   .001058   .000964

 

 54   .001237   .001124   .001022   .000930   .000846

 

 55   .001093   .000991   .000900   .000817   .000742

 

 56   .000965   .000874   .000792   .000718   .000651

 

 57   .000853   .000771   .000697   .000631   .000571

 

 58   .000753   .000680   .000614   .000554   .000501

 

 59   .000665   .000600   .000540   .000487   .000439

 

 60   .000588   .000529   .000476   .000428   .000385

 

 _____________________________________________________________________

 

 TABLE J

 

 ADJUSTMENT FACTORS FOR TERM CERTAIN ANNUITIES

 

 PAYABLE AT THE BEGINNING OF EACH INTERVAL

 

 APPLICABLE AFTER APRIL 30, 1989

 

 FREQUENCY OF PAYMENTS

 

 INTEREST                  SEMI

 

 RATE      ANNUALLY    ANNUALLY    QUARTERLY    MONTHLY     WEEKLY

 

 _____________________________________________________________________

 

 4.2        1.0420      1.0314       1.0261      1.0226     1.0213

 

 4.4        1.0440      1.0329       1.0274      1.0237     1.0223

 

 4.6        1.0460      1.0344       1.0286      1.0247     1.0233

 

 4.8        1.0480      1.0359       1.0298      1.0258     1.0243

 

 5.0        1.0500      1.0373       1.0311      1.0269     1.0253

 

 5.2        1.0520      1.0388       1.0323      1.0279     1.0263

 

 5.4        1.0540      1.0403       1.0335      1.0290     1.0273

 

 5.6        1.0560      1.0418       1.0348      1.0301     1.0283

 

 5.8        1.0580      1.0433       1.0360      1.0311     1.0293

 

 6.0        1.0600      1.0448       1.0372      1.0322     1.0303

 

 6.2        1.0620      1.0463       1.0385      1.0333     1.0313

 

 6.4        1.0640      1.0478       1.0397      1.0343     1.0323

 

 6.6        1.0660      1.0492       1.0409      1.0354     1.0333

 

 6.8        1.0680      1.0507       1.0422      1.0365     1.0343

 

 7.0        1.0700      1.0522       1.0434      1.0375     1.0353

 

 7.2       1.0720      1.0537       1.0446      1.0386     1.0363

 

 7.4       1.0740      1.0552       1.0458      1.0396     1.0373

 

 7.6       1.0760      1.0567       1.0471      1.0407     1.0383

 

 7.8       1.0780      1.0581       1.0483      1.0418     1.0393

 

 8.0       1.0800      1.0596       1.0495      1.0428     1.0403

 

 8.2       1.0820      1.0611       1.0507      1.0439     1.0413

 

 8.4       1.0840      1.0626       1.0520      1.0449     1.0422

 

 8.6       1.0860      1.0641       1.0532      1.0460     1.0432

 

 8.8       1.0880      1.0655       1.0544      1.0471     1.0442

 

 9.0       1.0900      1.0670       1.0556      1.0481     1.0452

 

 9.2       1.0920      1.0685       1.0569      1.0492     1.0462

 

 9.4       1.0940      1.0700       1.0581      1.0502     1.0472

 

 9.6       1.0960      1.0715       1.0593      1.0513     1.0482

 

 9.8       1.0980      1.0729       1.0605      1.0523     1.0492

 

 10.0       1.1000      1.0744       1.0618      1.0534     1.0502

 

 10.2       1.1020      1.0759       1.0630      1.0544     1.0512

 

 10.4       1.1040      1.0774       1.0642      1.0555     1.0521

 

 10.6       1.1060      1.0788       1.0654      1.0565     1.0531

 

 10.8       1.1080      1.0803       1.0666      1.0576     1.0541

 

 11.0       1.1100      1.0818       1.0679      1.0586     1.0551

 

 11.2       1.1120      1.0833       1.0691      1.0597     1.0561

 

 11.4       1.1140      1.0847       1.0703      1.0607     1.0571

 

 11.6       1.1160      1.0862       1.0715      1.0618     1.0581

 

 11.8       1.1180      1.0877       1.0727      1.0628     1.0590

 

 12.0       1.1200      1.0892       1.0739      1.0639     1.0600

 

 12.2       1.1220      1.0906       1.0752      1.0649     1.0610

 

 12.4       1.1240      1.0921       1.0764      1.0660     1.0620

 

 12.6       1.1260      1.0936       1.0776      1.0670     1.0630

 

 12.8       1.1280      1.0950       1.0788      1.0681     1.0639

 

 13.0       1.1300      1.0965       1.0800      1.0691     1.0649

 

 13.2       1.1320      1.0980       1.0812      1.0701     1.0659

 

 13.4       1.1340      1.0994       1.0824      1.0712     1.0669

 

 13.6       1.1360      1.1009       1.0836      1.0722     1.0679

 

 13.8       1.1380      1.1024       1.0849      1.0733     1.0688

 

 14.0       1.1400      1.1039       1.0861      1.0743     1.0698

 

 _____________________________________________________________________

 

 TABLE K

 

 ADJUSTMENT FACTORS FOR ANNUITIES

 

 PAYABLE AT THE END OF EACH INTERVAL

 

 APPLICABLE AFTER APRIL 30, 1989

 

 FREQUENCY OF PAYMENTS

 

 INTEREST                  SEMI

 

 RATE      ANNUALLY    ANNUALLY    QUARTERLY    MONTHLY     WEEKLY

 

 4.2        1.0000      1.0104       1.0156      1.0191     1.0205

 

 4.4        1.0000      1.0109       1.0164      1.0200     1.0214

 

 4.6        1.0000      1.0114       1.0171      1.0209     1.0224

 

 4.8        1.0000      1.0119       1.0178      1.0218     1.0234

 

 5.0        1.0000      1.0123       1.0186      1.0227     1.0243

 

 5.2        1.0000      1.0128       1.0193      1.0236     1.0253

 

 5.4        1.0000      1.0133       1.0200      1.0245     1.0262

 

 5.6        1.0000      1.0138       1.0208      1.0254     1.0272

 

 5.8        1.0000      1.0143       1.0215      1.0263     1.0282

 

 6.0        1.0000      1.0148       1.0222      1.0272     1.0291

 

 6.2        1.0000      1.0153       1.0230      1.0281     1.0301

 

 6.4        1.0000      1.0158       1.0237      1.0290     1.0311

 

 6.6        1.0000      1.0162       1.0244      1.0299     1.0320

 

 6.8        1.0000      1.0167       1.0252      1.0308     1.0330

 

 7.0        1.0000      1.0172       1.0259      1.0317     1.0339

 

 7.2        1.0000      1.0177       1.0266      1.0326     1.0349

 

 7.4        1.0000      1.0182       1.0273      1.0335     1.0358

 

 7.6        1.0000      1.0187       1.0281      1.0344     1.0368

 

 7.8        1.0000      1.0191       1.0288      1.0353     1.0378

 

 8.0        1.0000      1.0196       1.0295      1.0362     1.0387

 

 8.2        1.0000      1.0201       1.0302      1.0370     1.0397

 

 8.4        1.0000      1.0206       1.0310      1.0379     1.0406

 

 8.6        1.0000      1.0211       1.0317      1.0388     1.0416

 

 8.8        1.0000      1.0215       1.0324      1.0397     1.0425

 

 9.0        1.0000      1.0220       1.0331      1.0406     1.0435

 

 9.2        1.0000      1.0225       1.0339      1.0415     1.0444

 

 9.4        1.0000      1.0230       1.0346      1.0424     1.0454

 

 9.6        1.0000      1.0235       1.0353      1.0433     1.0463

 

 9.8        1.0000      1.0239       1.0360      1.0442     1.0473

 

 10.0        1.0000      1.0244       1.0368      1.0450     1.0482

 

 10.2        1.0000      1.0249       1.0375      1.0459     1.0492

 

 10.4        1.0000      1.0254       1.0382      1.0468     1.0501

 

 10.6        1.0000      1.0258       1.0389      1.0477     1.0511

 

 10.8        1.0000      1.0263       1.0396      1.0486     1.0520

 

 11.0        1.0000      1.0268       1.0404      1.0495     1.0530

 

 11.2        1.0000      1.0273       1.0411      1.0503     1.0539

 

 11.4        1.0000      1.0277       1.0418      1.0512     1.0549

 

 11.6        1.0000      1.0282       1.0425      1.0521     1.0558

 

 11.8        1.0000      1.0287       1.0432      1.0530     1.0568

 

 12.0        1.0000      1.0292       1.0439      1.0539     1.0577

 

 12.2        1.0000      1.0296       1.0447      1.0548     1.0587

 

 12.4        1.0000      1.0301       1.0454      1.0556     1.0596

 

 12.6        1.0000      1.0306       1.0461      1.0565     1.0605

 

 12.8        1.0000      1.0310       1.0468      1.0574     1.0615

 

 13.0        1.0000      1.0315       1.0475      1.0583     1.0624

 

 13.2        1.0000      1.0320       1.0482      1.0591     1.0634

 

 13.4        1.0000      1.0324       1.0489      1.0600     1.0643

 

 13.6        1.0000      1.0329       1.0496      1.0609     1.0652

 

 13.8        1.0000      1.0334       1.0504      1.0618     1.0662

 

 14.0        1.0000      1.0339       1.0511      1.0626     1.0671

 

 _____________________________________________________________________

 

 TABLE S

 

 BASED ON LIFE TABLE 80CNSMT

 

 SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1989

 

 INTEREST RATE

 

 AGE    4.2%      4.4%      4.6%      4.8%      5.0%

 

 0  .07389    .06749    .06188    .05695    .05261

 

 1  .06494    .05832    .05250    .04738    .04287

 

 2  .06678    .05999    .05401    .04874    .04410

 

 3  .06897    .06200    .05587    .05045    .04567

 

 4  .07139    .06425    .05796    .05239    .04746

 

 5  .07401    .06669    .06023    .05451    .04944

 

 6  .07677    .06928    .06265    .05677    .05156

 

 7  .07968    .07201    .06521    .05918    .05381

 

 8  .08274    .07489    .06792    .06172    .05621

 

 9  .08597    .07794    .07079    .06443    .05876

 

 10  .08936    .08115    .07383    .06730    .06147

 

 11  .09293    .08453    .07704    .07035    .06436

 

 12  .09666    .08807    .08040    .07354    .06739

 

 13  .10049    .09172    .08387    .07684    .07053

 

 14  .10437    .09541    .08738    .08017    .07370

 

 15  .10827    .09912    .09090    .08352    .07688

 

 16  .11220    .10285    .09445    .08689    .08008

 

 17  .11615    .10661    .09802    .09028    .08330

 

 18  .12017    .11043    .10165    .09373    .08656

 

 19  .12428    .11434    .10537    .09726    .08992

 

 20  .12850    .11836    .10919    .10089    .09337

 

 21  .13282    .12248    .11311    .10462    .09692

 

 22  .13728    .12673    .11717    .10848    .10059

 

 23  .14188    .13113    .12136    .11248    .10440

 

 24  .14667    .13572    .12575    .11667    .10839

 

 25  .15167    .14051    .13034    .12106    .11259

 

 26  .15690    .14554    .13517    .12569    .11703

 

 27  .16237    .15081    .14024    .13056    .12171

 

 28  .16808    .15632    .14555    .13567    .12662

 

 29  .17404    .16208    .15110    .14104    .13179

 

 30  .18025    .16808    .15692    .14665    .13721

 

 31  .18672    .17436    .16300    .15255    .14291

 

 32  .19344    .18090    .16935    .15870    .14888

 

 33  .20044    .18772    .17598    .16514    .15513

 

 34  .20770    .19480    .18287    .17185    .16165

 

 35  .21522    .20215    .19005    .17884    .16846

 

 36  .22299    .20974    .19747    .18609    .17552

 

 37  .23101    .21760    .20516    .19360    .18286

 

 38  .23928    .22572    .21311    .20139    .19048

 

 39  .24780    .23409    .22133    .20945    .19837

 

 40  .25658    .24273    .22982    .21778    .20654

 

 41  .26560    .25163    .23858    .22639    .21499

 

 42  .27486    .26076    .24758    .23525    .22370

 

 43  .28435    .27013    .25683    .24436    .23268

 

 44  .29407    .27975    .26633    .25373    .24191

 

 45  .30402    .28961    .27608    .26337    .25142

 

 46  .31420    .29970    .28608    .27326    .26120

 

 47  .32460    .31004    .29632    .28341    .27123

 

 48  .33521    .32058    .30679    .29379    .28151

 

 49  .34599    .33132    .31746    .30438    .29201

 

 50  .35695    .34224    .32833    .31518    .30273

 

 51  .36809    .35335    .33940    .32619    .31367

 

 52  .37944    .36468    .35070    .33744    .32486

 

 53  .39098    .37622    .36222    .34892    .33629

 

 54  .40269    .38794    .37393    .36062    .34795

 

 55  .41457    .39985    .38585    .37252    .35983

 

 56  .42662    .41194    .39796    .38464    .37193

 

 57  .43884    .42422    .41028    .39697    .38426

 

 58  .45123    .43668    .42279    .40951    .39682

 

 59  .46377    .44931    .43547    .42224    .40958

 

 60  .47643    .46206    .44830    .43513    .42250

 

 61  .48916    .47491    .46124    .44814    .43556

 

 62  .50196    .48783    .47427    .46124    .44874

 

 63  .51480    .50081    .48736    .47444    .46201

 

 64  .52770    .51386    .50054    .48773    .47540

 

 65  .54069    .52701    .51384    .50115    .48892

 

 66  .55378    .54029    .52727    .51472    .50262

 

 67  .56697    .55368    .54084    .52845    .51648

 

 68  .58026    .56717    .55453    .54231    .53049

 

 69  .59358    .58072    .56828    .55624    .54459

 

 70  .60689    .59427    .58205    .57021    .55874

 

 71  .62014    .60778    .59578    .58415    .57287

 

 72  .63334    .62123    .60948    .59808    .58700

 

 73  .64648    .63465    .62315    .61198    .60112

 

 74  .65961    .64806    .63682    .62590    .61527

 

 75  .67274    .66149    .65054    .63987    .62948

 

 76  .68589    .67495    .66429    .65390    .64377

 

 77  .69903    .68841    .67806    .66796    .65811

 

 78  .71209    .70182    .69179    .68199    .67242

 

 79  .72500    .71507    .70537    .69588    .68660

 

 80  .73768    .72809    .71872    .70955    .70058

 

 81  .75001    .74077    .73173    .72288    .71422

 

 82  .76195    .75306    .74435    .73582    .72746

 

 83  .77346    .76491    .75654    .74832    .74026

 

 84  .78456    .77636    .76831    .76041    .75265

 

 85  .79530    .78743    .77971    .77212    .76466

 

 86  .80560    .79806    .79065    .78337    .77621

 

 87  .81535    .80813    .80103    .79404    .78717

 

 88  .82462    .81771    .81090    .80420    .79760

 

 89  .83356    .82694    .82043    .81401    .80769

 

 90  .84225    .83593    .82971    .82357    .81753

 

 91  .85058    .84455    .83861    .83276    .82698

 

 92  .85838    .85263    .84696    .84137    .83585

 

 93  .86557    .86009    .85467    .84932    .84405

 

 94  .87212    .86687    .86169    .85657    .85152

 

 95  .87801    .87298    .86801    .86310    .85825

 

 96  .88322    .87838    .87360    .86888    .86420

 

 97  .88795    .88328    .87867    .87411    .86961

 

 98  .89220    .88769    .88323    .87883    .87447

 

 99  .89612    .89176    .88745    .88318    .87895

 

 100  .89977    .89555    .89136    .88722    .88313

 

 101  .90326    .89917    .89511    .89110    .88712

 

 102  .90690    .90294    .89901    .89513    .89128

 

 103  .91076    .90694    .90315    .89940    .89569

 

 104  .91504    .91138    .90775    .90415    .90058

 

 105  .92027    .91681    .91337    .90996    .90658

 

 106  .92763    .92445    .92130    .91816    .91506

 

 107  .93799    .93523    .93249    .92977    .92707

 

 108  .95429    .95223    .95018    .94814    .94611

 

 109  .97985    .97893    .97801    .97710    .97619

 

 (table continued)

 

 AGE    5.2%      5.4%      5.6%      5.8%      6.0%

 

 0  .04879    .04541    .04243    .03978    .03744

 

 1  .03889    .03537    .03226    .02950    .02705

 

 2  .03999    .03636    .03314    .03028    .02773

 

 3  .04143    .03768    .03435    .03139    .02875

 

 4  .04310    .03922    .03578    .03271    .02998

 

 5  .04494    .04094    .03738    .03421    .03137

 

 6  .04692    .04279    .03911    .03583    .03289

 

 7  .04903    .04477    .04097    .03757    .03453

 

 8  .05129    .04689    .04297    .03945    .03630

 

 9  .05370    .04917    .04511    .04148    .03821

 

 10  .05626    .05159    .04741    .04365    .04027

 

 11  .05900    .05419    .04988    .04599    .04250

 

 12  .06188    .05693    .05248    .04847    .04486

 

 13  .06487    .05977    .05518    .05104    .04731

 

 14  .06788    .06263    .05791    .05364    .04978

 

 15  .07090    .06551    .06064    .05623    .05225

 

 16  .07394    .06839    .06337    .05883    .05472

 

 17  .07699    .07129    .06612    .06144    .05719

 

 18  .08009    .07422    .06890    .06408    .05969

 

 19  .08327    .07724    .07177    .06679    .06226

 

 20  .08654    .08035    .07471    .06959    .06492

 

 21  .08991    .08355    .07775    .07247    .06765

 

 22  .09341    .08686    .08090    .07546    .07049

 

 23  .09703    .09032    .08418    .07858    .07345

 

 24  .10084    .09395    .08764    .08187    .07659

 

 25  .10486    .09778    .09130    .08536    .07991

 

 26  .10910    .10184    .09518    .08907    .08346

 

 27  .11359    .10614    .09930    .09302    .08724

 

 28  .11831    .11068    .10366    .09720    .09125

 

 29  .12329    .11547    .10827    .10163    .09551

 

 30  .12852    .12051    .11313    .10631    .10002

 

 31  .13403    .12584    .11827    .11127    .10480

 

 32  .13980    .13142    .12367    .11650    .10985

 

 33  .14587    .13730    .12936    .12201    .11519

 

 34  .15221    .14345    .13533    .12780    .12080

 

 35  .15883    .14989    .14159    .13388    .12670

 

 36  .16571    .15660    .14812    .14022    .13287

 

 37  .17288    .16358    .15492    .14685    .13933

 

 38  .18032    .17085    .16201    .15377    .14607

 

 39  .18804    .17840    .16939    .16097    .15310

 

 40  .19605    .18624    .17706    .16847    .16043

 

 41  .20434    .19436    .18502    .17627    .16806

 

 42  .21289    .20276    .19326    .18434    .17597

 

 43  .22172    .21143    .20177    .19270    .18416

 

 44  .23081    .22038    .21057    .20134    .19265

 

 45  .24019    .22962    .21966    .21028    .20144

 

 46  .24983    .23913    .22904    .21951    .21053

 

 47  .25975    .24892    .23870    .22904    .21991

 

 48  .26992    .25897    .24862    .23883    .22957

 

 49  .28032    .26926    .25879    .24888    .23949

 

 50  .29094    .27978    .26921    .25918    .24966

 

 51  .30180    .29055    .27987    .26973    .26010

 

 52  .31292    .30158    .29081    .28057    .27083

 

 53  .32429    .31288    .30203    .29170    .28186

 

 54  .33590    .32442    .31349    .30308    .29316

 

 55  .34774    .33621    .32522    .31474    .30473

 

 56  .35981    .34824    .33720    .32666    .31658

 

 57  .37213    .36053    .34945    .33885    .32872

 

 58  .38468    .37307    .36196    .35132    .34114

 

 59  .39745    .38584    .37471    .36405    .35383

 

 60  .41040    .39880    .38767    .37699    .36674

 

 61  .42350    .41192    .40080    .39012    .37985

 

 62  .43672    .42518    .41408    .40340    .39314

 

 63  .45006    .43856    .42749    .41684    .40658

 

 64  .46352    .45208    .44105    .43043    .42019

 

 65  .47713    .46577    .45480    .44422    .43401

 

 66  .49093    .47965    .46876    .45824    .44808

 

 67  .50491    .49373    .48293    .47248    .46238

 

 68  .51905    .50800    .49729    .48694    .47691

 

 69  .53330    .52238    .51179    .50154    .49160

 

 70  .54762    .53683    .52638    .51624    .50641

 

 71  .56193    .55131    .54100    .53099    .52126

 

 72  .57624    .56579    .55563    .54577    .53617

 

 73  .59056    .58029    .57030    .56059    .55113

 

 74  .60492    .59485    .58504    .57550    .56620

 

 75  .61936    .60950    .59990    .59053    .58140

 

 76  .63390    .62427    .61487    .60570    .59676

 

 77  .64849    .63910    .62993    .62097    .61223

 

 78  .66307    .65393    .64501    .63628    .62775

 

 79  .67754    .66867    .65999    .65151    .64321

 

 80  .69180    .68320    .67479    .66655    .65849

 

 81  .70573    .69741    .68926    .68128    .67345

 

 82  .71926    .71123    .70335    .69562    .68804

 

 83  .73236    .72460    .71699    .70952    .70219

 

 84  .74503    .73756    .73021    .72300    .71592

 

 85  .75733    .75014    .74306    .73611    .72928

 

 86  .76917    .76225    .75544    .74875    .74216

 

 87  .78041    .77375    .76720    .76076    .75442

 

 88  .79111    .78472    .77842    .77223    .76612

 

 89  .80147    .79533    .78929    .78334    .77747

 

 90  .81157    .80570    .79991    .79420    .78857

 

 91  .82129    .81567    .81013    .80466    .79927

 

 92  .83040    .82503    .81973    .81449    .80933

 

 93  .83884    .83370    .82862    .82360    .81865

 

 94  .84653    .84160    .83673    .83192    .82717

 

 95  .85345    .84872    .84404    .83941    .83484

 

 96  .85959    .85502    .85051    .84605    .84165

 

 97  .86515    .86074    .85639    .85208    .84782

 

 98  .87016    .86589    .86167    .85750    .85337

 

 99  .87478    .87064    .86656    .86251    .85850

 

 100  .87908    .87506    .87109    .86716    .86327

 

 101  .88318    .87929    .87543    .87161    .86783

 

 102  .88746    .88369    .87995    .87624    .87257

 

 103  .89200    .88835    .88474    .88116    .87760

 

 104  .89704    .89354    .89006    .88661    .88319

 

 105  .90322    .89989    .89659    .89331    .89006

 

 106  .91197    .90890    .90586    .90284    .89983

 

 107  .92438    .92170    .91905    .91641    .91378

 

 108  .94409    .94208    .94008    .93809    .93611

 

 109  .97529    .97438    .97348    .97259    .97170

 

 (table continued)

 

 AGE    6.2%      6.4%      6.6%      6.8%      7.0%

 

 0  .03535    .03349    .03183    .03035    .02902

 

 1  .02486    .02292    .02119    .01963    .01824

 

 2  .02547    .02345    .02164    .02002    .01857

 

 3  .02640    .02429    .02241    .02073    .01921

 

 4  .02753    .02535    .02339    .02163    .02005

 

 5  .02883    .02656    .02453    .02269    .02105

 

 6  .03026    .02790    .02578    .02387    .02215

 

 7  .03180    .02935    .02714    .02515    .02336

 

 8  .03347    .03092    .02863    .02656    .02469

 

 9  .03528    .03263    .03025    .02810    .02615

 

 10  .03723    .03449    .03201    .02977    .02774

 

 11  .03935    .03650    .03393    .03160    .02949

 

 12  .04160    .03865    .03598    .03356    .03136

 

 13  .04394    .04088    .03811    .03560    .03331

 

 14  .04629    .04312    .04025    .03764    .03527

 

 15  .04864    .04536    .04238    .03968    .03721

 

 16  .05099    .04759    .04451    .04170    .03913

 

 17  .05333    .04982    .04662    .04370    .04104

 

 18  .05570    .05207    .04875    .04573    .04296

 

 19  .05814    .05438    .05095    .04781    .04494

 

 20  .06065    .05677    .05321    .04996    .04698

 

 21  .06325    .05922    .05554    .05217    .04907

 

 22  .06594    .06178    .05797    .05447    .05126

 

 23  .06876    .06446    .06051    .05688    .05355

 

 24  .07174    .06729    .06321    .05945    .05599

 

 25  .07491    .07031    .06609    .06219    .05861

 

 26  .07830    .07355    .06918    .06515    .06142

 

 27  .08192    .07702    .07250    .06832    .06446

 

 28  .08577    .08071    .07603    .07171    .06772

 

 29  .08986    .08464    .07981    .07534    .07120

 

 30  .09420    .08882    .08383    .07921    .07492

 

 31  .09881    .09327    .08812    .08335    .07891

 

 32  .10369    .09797    .09267    .08774    .08315

 

 33  .10885    .10297    .09750    .09241    .08767

 

 34  .11430    .10824    .10261    .09736    .09246

 

 35  .12002    .11380    .10800    .10259    .09754

 

 36  .12602    .11963    .11366    .10809    .10288

 

 37  .13230    .12574    .11961    .11387    .10850

 

 38  .13887    .13214    .12584    .11994    .11441

 

 39  .14573    .13883    .13237    .12630    .12061

 

 40  .15290    .14583    .13920    .13297    .12712

 

 41  .16036    .15312    .14633    .13994    .13393

 

 42  .16810    .16071    .15375    .14720    .14103

 

 43  .17614    .16858    .16146    .15475    .14842

 

 44  .18447    .17675    .16948    .16261    .15613

 

 45  .19310    .18524    .17780    .17078    .16414

 

 46  .20204    .19402    .18644    .17926    .17247

 

 47  .21128    .20311    .19538    .18806    .18112

 

 48  .22080    .21249    .20462    .19716    .19007

 

 49  .23059    .22214    .21413    .20653    .19930

 

 50  .24063    .23206    .22391    .21617    .20881

 

 51  .25095    .24225    .23398    .22610    .21861

 

 52  .26157    .25275    .24436    .23636    .22874

 

 53  .27249    .26357    .25505    .24694    .23919

 

 54  .28369    .27466    .26604    .25782    .24995

 

 55  .29518    .28605    .27734    .26900    .26103

 

 56  .30695    .29774    .28893    .28050    .27242

 

 57  .31902    .30973    .30084    .29232    .28415

 

 58  .33138    .32203    .31306    .30446    .29621

 

 59  .34402    .33461    .32558    .31691    .30859

 

 60  .35690    .34745    .33836    .32963    .32124

 

 61  .36999    .36050    .35137    .34259    .33414

 

 62  .38325    .37374    .36458    .35576    .34726

 

 63  .39669    .38717    .37799    .36913    .36060

 

 64  .41031    .40078    .39159    .38272    .37415

 

 65  .42416    .41464    .40545    .39656    .38798

 

 66  .43825    .42876    .41958    .41070    .40211

 

 67  .45260    .44315    .43399    .42513    .41655

 

 68  .46720    .45779    .44868    .43985    .43129

 

 69  .48197    .47263    .46357    .45478    .44625

 

 70  .49686    .48760    .47861    .46988    .46140

 

 71  .51182    .50265    .49374    .48508    .47666

 

 72  .52685    .51778    .50896    .50038    .49203

 

 73  .54194    .53298    .52426    .51578    .50751

 

 74  .55714    .54832    .53972    .53134    .52317

 

 75  .57250    .56382    .55536    .54710    .53904

 

 76  .58803    .57951    .57120    .56308    .55515

 

 77  .60369    .59535    .58720    .57923    .57144

 

 78  .61942    .61126    .60329    .59549    .58787

 

 79  .63508    .62713    .61935    .61174    .60428

 

 80  .65059    .64285    .63527    .62785    .62058

 

 81  .66579    .65827    .65090    .64368    .63659

 

 82  .68061    .67332    .66616    .65914    .65226

 

 83  .69499    .68793    .68099    .67418    .66749

 

 84  .70896    .70213    .69541    .68881    .68233

 

 85  .72256    .71596    .70947    .70308    .69681

 

 86  .73569    .72931    .72305    .71688    .71081

 

 87  .74818    .74204    .73599    .73003    .72417

 

 88  .76011    .75419    .74836    .74261    .73695

 

 89  .77169    .76599    .76037    .75484    .74938

 

 90  .78302    .77755    .77215    .76683    .76158

 

 91  .79395    .78870    .78352    .77842    .77337

 

 92  .80423    .79920    .79423    .78933    .78449

 

 93  .81377    .80894    .80417    .79946    .79481

 

 94  .82247    .81784    .81325    .80873    .80425

 

 95  .83033    .82586    .82145    .81709    .81278

 

 96  .83729    .83298    .82872    .82451    .82034

 

 97  .84361    .83944    .83532    .83124    .82721

 

 98  .84929    .84525    .84126    .83730    .83339

 

 99  .85454    .85062    .84674    .84290    .83910

 

 100  .85942    .85561    .85184     .84810    .84440

 

 101  .86408    .86037    .85670     .85306    .84946

 

 102  .86894    .86534    .86177     .85823    .85473

 

 103  .87408    .87060    .86714     .86371    .86032

 

 104  .87980    .87644    .87311     .86980    .86653

 

 105  .88684    .88363    .88046     .87731    .87418

 

 106  .89685    .89389    .89095     .88804    .88514

 

 107  .91117    .90858    .90600     .90344    .90089

 

 108  .93414    .93217    .93022     .92828    .92634

 

 109  .97081    .96992    .96904     .96816    .96729

 

 (table continued)

 

 AGE    7.2%      7.4%      7.6%      7.8%      8.0%

 

 0  .02783    .02676    .02579    .02492    .02413

 

 1  .01699    .01587    .01486    .01395    .01312

 

 2  .01727    .01609    .01504    .01408    .01321

 

 3  .01785    .01662    .01552    .01451    .01361

 

 4  .01863    .01735    .01619    .01514    .01418

 

 5  .01956    .01822    .01700    .01590    .01490

 

 6  .02060    .01919    .01792    .01677    .01572

 

 7  .02174    .02027    .01894    .01773    .01664

 

 8  .02300    .02146    .02007    .01881    .01766

 

 9  .02438    .02278    .02133    .02000    .01880

 

 10  .02590    .02423    .02271    .02133    .02006

 

 11  .02757    .02583    .02424    .02279    .02147

 

 12  .02936    .02755    .02589    .02438    .02299

 

 13  .03123    .02934    .02761    .02603    .02458

 

 14  .03311    .03113    .02933    .02768    .02617

 

 15  .03496    .03290    .03103    .02930    .02773

 

 16  .03679    .03466    .03270    .03090    .02926

 

 17  .03861    .03638    .03434    .03247    .03075

 

 18  .04044    .03812    .03599    .03404    .03225

 

 19  .04231    .03990    .03769    .03565    .03378

 

 20  .04424    .04173    .03943    .03731    .03535

 

 21  .04623    .04362    .04122    .03901    .03697

 

 22  .04831    .04559    .04309    .04078    .03865

 

 23  .05048    .04766    .04505    .04265    .04042

 

 24  .05281    .04987    .04715    .04465    .04233

 

 25  .05530    .05224    .04941    .04680    .04438

 

 26  .05799    .05481    .05187    .04915    .04662

 

 27  .06090    .05759    .05454    .05170    .04906

 

 28  .06402    .06059    .05740    .05445    .05170

 

 29  .06736    .06380    .06049    .05742    .05456

 

 30  .07095    .06725    .06381    .06061    .05763

 

 31  .07479    .07095    .06738    .06405    .06095

 

 32  .07888    .07491    .07120    .06774    .06451

 

 33  .08325    .07913    .07529    .07170    .06834

 

 34  .08790    .08363    .07964    .07592    .07243

 

 35  .09282    .08841    .08428    .08041    .07679

 

 36  .09800    .09344    .08917    .08516    .08140

 

 37  .10347    .09876    .09433    .09018    .08628

 

 38  .10922    .10436    .09978    .09549    .09145

 

 39  .11527    .11025    .10553    .10109    .09690

 

 40  .12162    .11644    .11157    .10698    .10266

 

 41  .12827    .12294    .11792    .11318    .10871

 

 42  .13522    .12973    .12456    .11967    .11505

 

 43  .14245    .13682    .13149    .12645    .12169

 

 44  .15000    .14421    .13873    .13355    .12864

 

 45  .15787    .15192    .14630    .14096    .13591

 

 46  .16604    .15995    .15418    .14870    .14350

 

 47  .17454    .16830    .16238    .15676    .15141

 

 48  .18335    .17696    .17090    .16513    .15964

 

 49  .19244    .18591    .17970    .17379    .16816

 

 50  .20180    .19514    .18879    .18274    .17697

 

 51  .21147    .20466    .19818    .19199    .18609

 

 52  .22147    .21453    .20791    .20159    .19556

 

 53  .23180    .22474    .21799    .21154    .20537

 

 54  .24244    .23526    .22839    .22181    .21552

 

 55  .25341    .24611    .23912    .23243    .22601

 

 56  .26469    .25728    .25019    .24338    .23685

 

 57  .27632    .26881    .26161    .25469    .24805

 

 58  .28829    .28069    .27339    .26637    .25962

 

 59  .30059    .29290    .28550    .27839    .27155

 

 60  .31317    .30540    .29792    .29073    .28379

 

 61  .32601    .31817    .31062    .30334    .29633

 

 62  .33907    .33117    .32356    .31621    .30912

 

 63  .35236    .34441    .33674    .32933    .32217

 

 64  .36588    .35789    .35016    .34270    .33548

 

 65  .37968    .37166    .36390    .35639    .34912

 

 66  .39380    .38576    .37797    .37043    .36312

 

 67  .40824    .40019    .39238    .38482    .37749

 

 68  .42299    .41494    .40713    .39956    .39221

 

 69  .43798    .42995    .42215    .41458    .40722

 

 70  .45316    .44516    .43738    .42983    .42248

 

 71  .46847    .46051    .45276    .44523    .43790

 

 72  .48390    .47599    .46829    .46079    .45349

 

 73  .49946    .49161    .48397    .47652    .46926

 

 74  .51520    .50744    .49986    .49247    .48527

 

 75  .53118    .52351    .51601    .50870    .50156

 

 76  .54740    .53984    .53245    .52522    .51817

 

 77  .56383    .55639    .54912    .54200    .53504

 

 78  .58040    .57310    .56596    .55896    .55212

 

 79  .59698    .58983    .58283    .57597    .56925

 

 80  .61345    .60646    .59961    .59290    .58632

 

 81  .62965    .62283    .61615    .60959    .60316

 

 82  .64550    .63886    .63235    .62595    .61968

 

 83  .66092    .65447    .64813    .64191    .63579

 

 84  .67595    .66969    .66353    .65748    .65153

 

 85  .69063    .68456    .67859    .67271    .66693

 

 86  .70484    .69896    .69318    .68748    .68188

 

 87  .71839    .71271    .70711    .70159    .69616

 

 88  .73137    .72588    .72046    .71512    .70986

 

 89  .74400    .73870    .73347    .72831    .72323

 

 90  .75640    .75129    .74625    .74128    .73638

 

 91  .76840    .76349    .75864    .75385    .74913

 

 92  .77971    .77499    .77033    .76572    .76118

 

 93  .79022    .78568    .78120    .77677    .77239

 

 94  .79983    .79547    .79115    .78688    .78266

 

 95  .80852    .80431    .80014    .79602    .79195

 

 96  .81622    .81215    .80812    .80414    .80019

 

 97  .82322    .81927    .81537    .81151    .80769

 

 98  .82952    .82569    .82190    .81815    .81443

 

 99  .83534    .83161    .82792    .82427    .82066

 

 100  .84074    .83711    .83352    .82997    .82644

 

 101  .84589    .84236    .83886    .83539    .83196

 

 102  .85126    .84782    .84442    .84104    .83770

 

 103  .85695    .85362    .85031    .84703    .84378

 

 104  .86328    .86005    .85686    .85369    .85054

 

 105  .87108    .86800    .86494    .86191    .85890

 

 106  .88226    .87940    .87656    .87374    .87094

 

 107  .89836    .89584    .89334    .89085    .88838

 

 108  .92442    .92250    .92060    .91870    .91681

 

 109  .96642    .96555    .96468    .96382    .96296

 

 (table continued)

 

 AGE    8.2%      8.4%      8.6%      8.8%      9.0%

 

 0  .02341    .02276    .02217    .02163    .02114

 

 1  .01237    .01170    .01108    .01052    .01000

 

 2  .01243    .01172    .01107    .01048    .00994

 

 3  .01278    .01203    .01135    .01073    .01016

 

 4  .01332    .01253    .01182    .01116    .01056

 

 5  .01400    .01317    .01241    .01172    .01109

 

 6  .01477    .01390    .01310    .01238    .01171

 

 7  .01563    .01472    .01389    .01312    .01242

 

 8  .01660    .01564    .01477    .01396    .01322

 

 9  .01770    .01669    .01577    .01492    .01414

 

 10  .01891    .01785    .01688    .01599    .01517

 

 11  .02026    .01915    .01814    .01720    .01634

 

 12  .02173    .02056    .01950    .01852    .01761

 

 13  .02326    .02204    .02092    .01989    .01895

 

 14  .02478    .02351    .02234    .02126    .02027

 

 15  .02628    .02495    .02372    .02259    .02155

 

 16  .02774    .02635    .02507    .02388    .02279

 

 17  .02917    .02772    .02637    .02513    .02399

 

 18  .03059    .02907    .02767    .02637    .02517

 

 19  .03205    .03046    .02899    .02763    .02637

 

 20  .03355    .03188    .03035    .02892    .02760

 

 21  .03509    .03334    .03173    .03024    .02886

 

 22  .03669    .03487    .03318    .03162    .03017

 

 23  .03837    .03646    .03470    .03306    .03154

 

 24  .04018    .03819    .03634    .03463    .03303

 

 25  .04214    .04006    .03812    .03633    .03465

 

 26  .04428    .04210    .04008    .03820    .03644

 

 27  .04662    .04434    .04223    .04025    .03841

 

 28  .04915    .04677    .04456    .04249    .04056

 

 29  .05189    .04941    .04709    .04493    .04291

 

 30  .05485    .05226    .04984    .04757    .04546

 

 31  .05805    .05535    .05282    .05045    .04824

 

 32  .06149    .05867    .05603    .05356    .05124

 

 33  .06520    .06226    .05950    .05692    .05449

 

 34  .06916    .06609    .06322    .06052    .05799

 

 35  .07339    .07020    .06720    .06439    .06174

 

 36  .07787    .07455    .07143    .06850    .06573

 

 37  .08262    .07917    .07593    .07287    .06999

 

 38  .08765    .08407    .08069    .07751    .07451

 

 39  .09296    .08925    .08574    .08243    .07931

 

 40  .09858    .09472    .09109    .08765    .08440

 

 41  .10449    .10050    .09673    .09316    .08978

 

 42  .11069    .10656    .10265    .09895    .09544

 

 43  .11718    .11291    .10887    .10503    .10140

 

 44  .12399    .11958    .11540    .11143    .10766

 

 45  .13111    .12656    .12224    .11814    .11423

 

 46  .13856    .13387    .12941    .12516    .12113

 

 47  .14633    .14150    .13690    .13252    .12835

 

 48  .15442    .14945    .14471    .14020    .13589

 

 49  .16280    .15769    .15281    .14816    .14373

 

 50  .17147    .16622    .16121    .15643    .15186

 

 51  .18045    .17507    .16993    .16501    .16030

 

 52  .18979    .18427    .17899    .17394    .16911

 

 53  .19947    .19383    .18842    .18324    .17828

 

 54  .20950    .20372    .19819    .19288    .18779

 

 55  .21986    .21397    .20831    .20288    .19767

 

 56  .23058    .22457    .21879    .21324    .20791

 

 57  .24167    .23554    .22965    .22399    .21854

 

 58  .25314    .24690    .24090    .23512    .22956

 

 59  .26497    .25863    .25252    .24664    .24097

 

 60  .27712    .27068    .26448    .25849    .25272

 

 61  .28956    .28304    .27674    .27067    .26480

 

 62  .30228    .29567    .28929    .28312    .27717

 

 63  .31525    .30857    .30211    .29586    .28982

 

 64  .32851    .32176    .31522    .30890    .30278

 

 65  .34209    .33528    .32868    .32229    .31610

 

 66  .35604    .34918    .34253    .33609    .32983

 

 67  .37037    .36347    .35678    .35028    .34398

 

 68  .38508    .37815    .37142    .36489    .35854

 

 69  .40008    .39313    .38638    .37982    .37344

 

 70  .41533    .40838    .40162    .39504    .38864

 

 71  .43076    .42382    .41705    .41047    .40405

 

 72  .44638    .43945    .43269    .42611    .41969

 

 73  .46218    .45527    .44854    .44197    .43556

 

 74  .47823    .47137    .46466    .45812    .45173

 

 75  .49459    .48777    .48112    .47462    .46826

 

 76  .51127    .50452    .49793    .49148    .48517

 

 77  .52823    .52157    .51505    .50867    .50243

 

 78  .54541    .53885    .53242    .52613    .51996

 

 79  .56267    .55621    .54989    .54369    .53762

 

 80  .57987    .57354    .56733    .56125    .55527

 

 81  .59685    .59065    .58457    .57860    .57274

 

 82  .61351    .60746    .60151    .59567    .58993

 

 83  .62978    .62387    .61806    .61236    .60675

 

 84  .64567    .63992    .63426    .62869    .62321

 

 85  .66125    .65565    .65014    .64472    .63938

 

 86  .67636    .67092    .66557    .66030    .65511

 

 87  .69081    .68554    .68034    .67522    .67018

 

 88  .70468    .69957    .69453    .68956    .68466

 

 89  .71821    .71326    .70838    .70357    .69882

 

 90  .73153    .72676    .72204    .71739    .71280

 

 91  .74447    .73986    .73532    .73083    .72640

 

 92  .75669    .75225    .74787    .74354    .73927

 

 93  .76807    .76379    .75957    .75540    .75127

 

 94  .77849    .77437    .77030    .76627    .76229

 

 95  .78792    .78394    .78001    .77611    .77226

 

 96  .79630    .79244    .78863    .78485    .78112

 

 97  .80391    .80016    .79646    .79280    .78917

 

 98  .81076    .80712    .80352    .79996    .79643

 

 99  .81709    .81354    .81004    .80657    .80313

 

 100  .82296    .81950    .81609    .81270    .80934

 

 101  .82855    .82518    .82185    .81854    .81526

 

 102  .83438    .83110    .82785    .82462    .82142

 

 103  .84056    .83737    .83420    .83106    .82795

 

 104  .84743    .84433    .84127    .83822    .83521

 

 105  .85591    .85295     .85001   .84709    .84419

 

 106  .86816    .86540     .86266   .85993    .85723

 

 107  .88592    .88348     .88105   .87863    .87623

 

 108  .91493    .91306     .91119   .90934    .90749

 

 109  .96211    .96125     .96041   .95956    .95872

 

 (table continued)

 

 AGE    9.2%      9.4%      9.6%      9.8%    10.0%

 

 0  .02069    .02027    .01989    .01954    .01922

 

 1  .00953    .00910    .00871    .00834    .00801

 

 2  .00944    .00899    .00857    .00819    .00784

 

 3  .00964    .00916    .00872    .00832    .00795

 

 4  .01001    .00951    .00904    .00862    .00822

 

 5  .01051    .00998    .00949    .00904    .00862

 

 6  .01110    .01054    .01002    .00954    .00910

 

 7  .01178    .01118    .01064    .01013    .00966

 

 8  .01254    .01192    .01134    .01081    .01031

 

 9  .01342    .01276    .01216    .01159    .01107

 

 10  .01442    .01372    .01308    .01249    .01194

 

 11  .01555    .01481    .01414    .01351    .01293

 

 12  .01678    .01601    .01529    .01463    .01402

 

 13  .01807    .01726    .01651    .01582    .01517

 

 14  .01935    .01850    .01771    .01698    .01630

 

 15  .02058    .01969    .01886    .01810    .01738

 

 16  .02178    .02084    .01997    .01917    .01842

 

 17  .02293    .02194    .02103    .02018    .01940

 

 18  .02406    .02302    .02207    .02118    .02035

 

 19  .02521    .02412    .02312    .02218    .02131

 

 20  .02638    .02524    .02419    .02320    .02229

 

 21  .02758    .02638    .02527    .02424    .02328

 

 22  .02882    .02757    .02640    .02532    .02430

 

 23  .03013    .02881    .02759    .02644    .02538

 

 24  .03155    .03016    .02888    .02767    .02655

 

 25  .03309    .03164    .03029    .02902    .02784

 

 26  .03481    .03328    .03186    .03052    .02928

 

 27  .03670    .03509    .03360    .03219    .03088

 

 28  .03876    .03708    .03550    .03403    .03264

 

 29  .04102    .03925    .03760    .03604    .03458

 

 30  .04348    .04162    .03988    .03825    .03671

 

 31  .04616    .04421    .04238    .04067    .03905

 

 32  .04906    .04702    .04510    .04329    .04160

 

 33  .05221    .05007    .04806    .04616    .04438

 

 34  .05560    .05336    .05125    .04926    .04738

 

 35  .05925    .05690    .05469    .05260    .05063

 

 36  .06313    .06068    .05836    .05617    .05411

 

 37  .06727    .06470    .06228    .05999    .05783

 

 38  .07167    .06899    .06646    .06407    .06180

 

 39  .07635    .07356    .07092    .06841    .06604

 

 40  .08132    .07841    .07565    .07303    .07055

 

 41  .08658    .08355    .08067    .07794    .07535

 

 42  .09212    .08896    .08596    .08312    .08041

 

 43  .09794    .09466    .09154    .08858    .08576

 

 44  .10407    .10067    .09743    .09434    .09141

 

 45  .11052    .10699    .10362    .10042    .09736

 

 46  .11728    .11362    .11013    .10680    .10363

 

 47  .12438    .12059    .11697    .11352    .11022

 

 48  .13179    .12787    .12412    .12055    .11713

 

 49  .13949    .13544    .13157    .12787    .12433

 

 50  .14749    .14331    .13931    .13548    .13182

 

 51  .15580    .15150    .14737    .14342    .13963

 

 52  .16448    .16004    .15579    .15172    .14780

 

 53  .17352    .16896    .16458    .16038    .15635

 

 54  .18291    .17822    .17372    .16940    .16524

 

 55  .19266    .18785    .18322    .17878    .17450

 

 56  .20278    .19785    .19310    .18854    .18414

 

 57  .21329    .20824    .20338    .19870    .19419

 

 58  .22420    .21904    .21407    .20927    .20464

 

 59  .23550    .23023    .22515    .22024    .21551

 

 60  .24716    .24178    .23659    .23158    .22674

 

 61  .25913    .25366    .24837    .24325    .23831

 

 62  .27141    .26584    .26045    .25524    .25020

 

 63  .28397    .27832    .27284    .26754    .26240

 

 64  .29685    .29111    .28555    .28016    .27493

 

 65  .31010    .30429    .29865    .29317    .28787

 

 66  .32377    .31788    .31217    .30663    .30124

 

 67  .33786    .33191    .32614    .32053    .31508

 

 68  .35237    .34638    .34055    .33488    .32937

 

 69  .36724    .36120    .35533    .34961    .34405

 

 70  .38241    .37634    .37043    .36468    .35907

 

 71  .39780    .39171    .38578    .38000    .37436

 

 72  .41344    .40733    .40138    .39558    .38991

 

 73  .42931    .42321    .41725    .41143    .40575

 

 74  .44549    .43940    .43345    .42763    .42195

 

 75  .46205    .45598    .45004    .44424    .43856

 

 76  .47900    .47297    .46706    .46129    .45563

 

 77  .49632    .49033    .48447    .47873    .47311

 

 78  .51392    .50800    .50220    .49652    .49094

 

 79  .53166    .52582    .52009    .51448    .50897

 

 80  .54941    .54366    .53802    .53248    .52705

 

 81  .56699    .56134    .55579    .55035    .54499

 

 82  .58429    .57875    .57331    .56796    .56270

 

 83  .60123    .59581    .59047    .58523    .58007

 

 84  .61783    .61253    .60731    .60218    .59713

 

 85  .63413    .62896    .62387    .61886    .61392

 

 86  .65000    .64496    .64000    .63511    .63030

 

 87  .66520    .66031    .65548    .65071    .64602

 

 88  .67983    .67507    .67037    .66574    .66117

 

 89  .69414    .68952    .68495    .68045    .67601

 

 90  .70827    .70379    .69938    .69502    .69071

 

 91  .72202    .71770    .71343    .70921    .70504

 

 92  .73504    .73087    .72674    .72267    .71864

 

 93  .74719    .74317    .73918    .73524    .73135

 

 94  .75835    .75446    .75061    .74680    .74303

 

 95  .76845    .76468    .76096    .75727    .75362

 

 96  .77742    .77377    .77015    .76657    .76303

 

 97  .78559    .78203    .77852    .77504    .77160

 

 98  .79294    .78948    .78606    .78267    .77931

 

 99  .79972    .79635    .79302    .78971    .78644

 

 100  .80602    .80273    .79947    .79624    .79304

 

 101  .81201    .80880    .80561    .80245    .79932

 

 102  .81826    .81512    .81200    .80892    .80586

 

 103  .82487    .82181    .81878    .81577    .81279

 

 104  .83221    .82924    .82630    .82338    .82048

 

 105  .84132    .83846    .83563    .83282    .83003

 

 106  .85454    .85187    .84922    .84659    .84397

 

 107  .87384    .87147    .86911    .86676    .86443

 

 108  .90566    .90383    .90201    .90020    .89840

 

 109  .95788    .95704    .95620    .95537    .95455

 

 (table continued)

 

 AGE   10.2%     10.4%     10.6%     10.8%     11.0%

 

 0  .01891    .01864    .01838    .01814    .01791

 

 1  .00770    .00741    .00715    .00690    .00667

 

 2  .00751    .00721    .00693    .00667    .00643

 

 3  .00760    .00728    .00699    .00671    .00646

 

 4  .00786    .00752    .00721    .00692    .00665

 

 5  .00824    .00788    .00755    .00724    .00695

 

 6  .00869    .00832    .00796    .00764    .00733

 

 7  .00923    .00883    .00846    .00811    .00779

 

 8  .00986    .00943    .00904    .00867    .00833

 

 9  .01059    .01014    .00972    .00933    .00897

 

 10  .01142    .01095    .01051    .01009    .00971

 

 11  .01239    .01189    .01142    .01098    .01057

 

 12  .01345    .01292    .01243    .01197    .01154

 

 13  .01457    .01401    .01349    .01300    .01255

 

 14  .01567    .01508    .01453    .01402    .01354

 

 15  .01672    .01610    .01552    .01498    .01448

 

 16  .01772    .01707    .01646    .01589    .01536

 

 17  .01866    .01798    .01734    .01674    .01618

 

 18  .01958    .01886    .01818    .01755    .01697

 

 19  .02050    .01974    .01903    .01837    .01775

 

 20  .02143    .02064    .01989    .01919    .01854

 

 21  .02238    .02154    .02075    .02002    .01933

 

 22  .02336    .02247    .02164    .02087    .02014

 

 23  .02438    .02345    .02257    .02176    .02099

 

 24  .02550    .02451    .02359    .02273    .02192

 

 25  .02673    .02569    .02472    .02381    .02295

 

 26  .02811    .02701    .02598    .02502    .02411

 

 27  .02965    .02849    .02741    .02639    .02543

 

 28  .03134    .03013    .02898    .02790    .02689

 

 29  .03322    .03193    .03072    .02958    .02851

 

 30  .03527    .03391    .03264    .03143    .03030

 

 31  .03753    .03610    .03475    .03348    .03228

 

 32  .04000    .03849    .03707    .03573    .03446

 

 33  .04269    .04111    .03961    .03819    .03685

 

 34  .04561    .04394    .04236    .04087    .03946

 

 35  .04877    .04702    .04535    .04378    .04229

 

 36  .05215    .05031    .04856    .04690    .04533

 

 37  .05578    .05384    .05200    .05025    .04860

 

 38  .05965    .05761    .05568    .05385    .05211

 

 39  .06379    .06165    .05962    .05770    .05587

 

 40  .06820    .06596    .06383    .06181    .05989

 

 41  .07288    .07054    .06832    .06620    .06418

 

 42  .07784    .07539    .07306    .07085    .06873

 

 43  .08308    .08052    .07808    .07576    .07355

 

 44  .08861    .08594    .08340    .08097    .07865

 

 45  .09445    .09167    .08901    .08648    .08406

 

 46  .10060    .09770    .09494    .09230    .08977

 

 47  .10707    .10406    .10119    .09843    .09579

 

 48  .11386    .11073    .10774    .10487    .10213

 

 49  .12094    .11769    .11458    .11160    .10874

 

 50  .12831    .12494    .12172    .11862    .11565

 

 51  .13600    .13251    .12917    .12596    .12288

 

 52  .14405    .14044    .13698    .13366    .13046

 

 53  .15247    .14875    .14517    .14172    .13841

 

 54  .16124    .15740    .15370    .15014    .14671

 

 55  .17039    .16642    .16261    .15893    .15539

 

 56  .17991    .17583    .17190    .16811    .16445

 

 57  .18984    .18564    .18160    .17769    .17392

 

 58  .20018    .19587    .19172    .18770    .18382

 

 59  .21093    .20652    .20225    .19812    .19414

 

 60  .22206    .21753    .21316    .20893    .20483

 

 61  .23353    .22890    .22442    .22009    .21589

 

 62  .24532    .24059    .23601    .23158    .22728

 

 63  .25742    .25260    .24793    .24339    .23900

 

 64  .26987    .26495    .26019    .25556    .25107

 

 65  .28271    .27771    .27286    .26815    .26357

 

 66  .29601    .29093    .28600    .28120    .27654

 

 67  .30978    .30462    .29961    .29474    .29000

 

 68  .32401    .31879    .31371    .30877    .30396

 

 69  .33863    .33336    .32822    .32322    .31835

 

 70  .35361    .34829    .34310    .33804    .33311

 

 71  .36886    .36349    .35826    .35316    .34818

 

 72  .38439    .37899    .37373    .36858    .36356

 

 73  .40021    .39479    .38950    .38432    .37927

 

 74  .41639    .41096    .40565    .40046    .39538

 

 75  .43301    .42758    .42226    .41706    .41198

 

 76  .45009    .44467    .43937    .43417    .42908

 

 77  .46761    .46221    .45693    .45175    .44667

 

 78  .48548    .48013    .47488    .46973    .46468

 

 79  .50356    .49826    .49306    .48795    .48294

 

 80  .52171    .51647    .51133    .50628    .50132

 

 81  .53974    .53457    .52950    .52451    .51961

 

 82  .55753    .55245    .54745    .54254    .53771

 

 83  .57500    .57001    .56510    .56026    .55551

 

 84  .59216    .58726    .58245    .57770    .57304

 

 85  .60906    .60428    .59956    .59492    .59034

 

 86  .62555    .62088    .61627    .61173    .60725

 

 87  .64139    .63683    .63233    .62790    .62352

 

 88  .65666    .65221    .64783    .64350    .63923

 

 89  .67163    .66730    .66304    .65882    .65466

 

 90  .68646    .68226    .67812    .67402    .66998

 

 91  .70093    .69686    .69285    .68888    .68496

 

 92  .71466    .71073    .70684    .70300    .69920

 

 93  .72750    .72370    .71994    .71622    .71254

 

 94  .73931    .73562    .73198    .72838    .72481

 

 95  .75001    .74644    .74291    .73941    .73595

 

 96  .75953    .75606    .75262    .74923    .74586

 

 97  .76819    .76481    .76147    .75816    .75489

 

 98  .77599    .77270    .76944    .76621    .76302

 

 99  .78319    .77998    .77680    .77365    .77053

 

 100  .78987    .78673    .78362    .78054    .77748

 

 101  .79622    .79315    .79010    .78708    .78409

 

 102  .80283    .79983    .79685    .79390    .79097

 

 103  .80983    .80690    .80399    .80111    .79825

 

 104  .81760    .81475    .81192    .80912    .80633

 

 105  .82726    .82451    .82178    .81907    .81638

 

 106  .84137    .83879    .83623    .83368    .83115

 

 107  .86211    .85981    .85751    .85523    .85297

 

 108  .89660    .89481    .89304    .89127    .88950

 

 109  .95372    .95290    .95208    .95126    .95045

 

 (table continued)

 

 AGE   11.2%     11.4%     11.6%     11.8%     12.0%

 

 0  .01770    .01750    .01732    .01715    .01698

 

 1  .00646    .00626    .00608    .00590    .00574

 

 2  .00620    .00600    .00580    .00562    .00544

 

 3  .00622    .00600    .00579    .00560    .00541

 

 4  .00639    .00616    .00594    .00573    .00554

 

 5  .00668    .00643    .00620    .00598    .00578

 

 6  .00705    .00678    .00654    .00630    .00608

 

 7  .00749    .00720    .00694    .00669    .00646

 

 8  .00801    .00771    .00743    .00716    .00692

 

 9  .00863    .00831    .00801    .00773    .00747

 

 10  .00935    .00901    .00869    .00840    .00812

 

 11  .01019    .00983    .00950    .00918    .00889

 

 12  .01113    .01075    .01040    .01007    .00975

 

 13  .01212    .01172    .01135    .01100    .01067

 

 14  .01309    .01267    .01227    .01190    .01155

 

 15  .01400    .01356    .01314    .01275    .01238

 

 16  .01486    .01439    .01396    .01354    .01315

 

 17  .01566    .01516    .01470    .01427    .01386

 

 18  .01641    .01590    .01541    .01495    .01452

 

 19  .01717    .01662    .01611    .01563    .01517

 

 20  .01793    .01735    .01681    .01630    .01582

 

 21  .01868    .01807    .01750    .01696    .01646

 

 22  .01946    .01882    .01821    .01764    .01711

 

 23  .02027    .01959    .01895    .01835    .01778

 

 24  .02115    .02044    .01976    .01913    .01853

 

 25  .02214    .02138    .02067    .01999    .01936

 

 26  .02326    .02246    .02170    .02098    .02031

 

 27  .02452    .02367    .02287    .02211    .02140

 

 28  .02593    .02503    .02418    .02338    .02262

 

 29  .02750    .02654    .02564    .02479    .02398

 

 30  .02923    .02821    .02726    .02635    .02550

 

 31  .03115    .03008    .02907    .02811    .02720

 

 32  .03326    .03213    .03105    .03004    .02907

 

 33  .03558    .03438    .03325    .03217    .03115

 

 34  .03812    .03685    .03565    .03451    .03342

 

 35  .04087    .03953    .03826    .03706    .03591

 

 36  .04384    .04242    .04108    .03980    .03859

 

 37  .04703    .04553    .04411    .04276    .04148

 

 38  .05045    .04888    .04738    .04595    .04460

 

 39  .05412    .05247    .05089    .04939    .04795

 

 40  .05806    .05631    .05465    .05307    .05155

 

 41  .06226    .06042    .05868    .05701    .05541

 

 42  .06671    .06479    .06295    .06119    .05952

 

 43  .07143    .06941    .06748    .06564    .06387

 

 44  .07644    .07432    .07230    .07036    .06851

 

 45  .08174    .07953    .07741    .07538    .07343

 

 46  .08735    .08503    .08281    .08068    .07865

 

 47  .09327    .09085    .08853    .08630    .08417

 

 48  .09949    .09697    .09455    .09222    .08999

 

 49  .10600    .10337    .10084    .09842    .09609

 

 50  .11280    .11006    .10743    .10490    .10247

 

 51  .11991    .11706    .11432    .11169    .10915

 

 52  .12738    .12442    .12157    .11883    .11619

 

 53  .13522    .13215    .12919    .12635    .12360

 

 54  .14341    .14023    .13717    .13421    .13136

 

 55  .15198    .14868    .14551    .14244    .13948

 

 56  .16092    .15752    .15423    .15106    .14799

 

 57  .17029    .16677    .16338    .16010    .15692

 

 58  .18007    .17645    .17295    .16956    .16628

 

 59  .19028    .18655    .18294    .17945    .17606

 

 60  .20087    .19703    .19332    .18972    .18624

 

 61  .21182    .20788    .20407    .20037    .19678

 

 62  .22311    .21907    .21515    .21135    .20767

 

 63  .23473    .23060    .22658    .22268    .21890

 

 64  .24671    .24248    .23837    .23438    .23050

 

 65  .25912    .25480    .25059    .24651    .24254

 

 66  .27200    .26760    .26331    .25913    .25507

 

 67  .28539    .28090    .27653    .27227    .26813

 

 68  .29927    .29471    .29027    .28593    .28171

 

 69  .31359    .30896    .30445    .30005    .29576

 

 70  .32830    .32361    .31903    .31457    .31021

 

 71  .34332    .33858    .33394    .32942    .32500

 

 72  .35866    .35387    .34919    .34461    .34015

 

 73  .37433    .36950    .36478    .36016    .35565

 

 74  .39042    .38556    .38081    .37616    .37161

 

 75  .40699    .40212    .39734    .39267    .38809

 

 76  .42410    .41921    .41443    .40974    .40514

 

 77  .44170    .43682    .43203    .42734    .42274

 

 78  .45972    .45486    .45009    .44541    .44082

 

 79  .47802    .47319    .46845    .46379    .45922

 

 80  .49644    .49166    .48695    .48233    .47779

 

 81  .51479    .51006    .50541    .50083    .49633

 

 82  .53296    .52828    .52369    .51917    .51472

 

 83  .55083    .54623    .54170    .53724    .53285

 

 84  .56844    .56391    .55945    .55506    .55074

 

 85  .58583    .58139    .57702    .57270    .56845

 

 86  .60284    .59849    .59420    .58997    .58580

 

 87  .61921    .61495    .61076    .60661    .60253

 

 88  .63502    .63086    .62675    .62270    .61871

 

 89  .65055    .64650    .64249    .63854    .63463

 

 90  .66599    .66204    .65814    .65430    .65049

 

 91  .68108    .67725    .67347    .66973    .66604

 

 92  .69545    .69173    .68806    .68444    .68085

 

 93  .70890    .70530    .70174    .69822    .69474

 

 94  .72129    .71780    .71434    .71093    .70755

 

 95  .73253    .72914    .72579    .72247    .71919

 

 96  .74253    .73924    .73598    .73275    .72955

 

 97  .75165    .74844    .74526    .74211    .73899

 

 98  .75986    .75672    .75362    .75054    .74750

 

 99  .76744    .76437    .76134    .75833    .75535

 

 100  .77446    .77146    .76849    .76555    .76263

 

 101  .78113    .77819    .77528    .77239    .76953

 

 102  .78807    .78519    .78234    .77951    .77671

 

 103  .79541    .79260    .78981    .78705    .78430

 

 104  .80357    .80083    .79810    .79541    .79273

 

 105  .81371    .81106    .80843    .80582    .80322

 

 106  .82863    .82614    .82366    .82119    .81874

 

 107  .85071    .84847    .84624    .84403    .84182

 

 108  .88775    .88601    .88427    .88254    .88081

 

 109  .94964    .94883    .94803    .94723    .94643

 

 (table continued)

 

 AGE   12.2%     12.4%     12.6%     12.8%     13.0%

 

 0  .01683    .01669    .01655    .01642    .01630

 

 1  .00559    .00544    .00531    .00518    .00506

 

 2  .00528    .00513    .00499    .00485    .00473

 

 3  .00524    .00508    .00493    .00479    .00465

 

 4  .00536    .00519    .00503    .00488    .00473

 

 5  .00558    .00540    .00523    .00507    .00492

 

 6  .00588    .00569    .00550    .00533    .00517

 

 7  .00624    .00604    .00584    .00566    .00549

 

 8  .00668    .00646    .00626    .00606    .00588

 

 9  .00722    .00699    .00677    .00656    .00636

 

 10  .00785    .00761    .00737    .00715    .00694

 

 11  .00861    .00835    .00810    .00786    .00764

 

 12  .00946    .00918    .00891    .00866    .00843

 

 13  .01035    .01006    .00978    .00951    .00927

 

 14  .01122    .01091    .01061    .01034    .01007

 

 15  .01203    .01171    .01140    .01110    .01082

 

 16  .01279    .01244    .01211    .01181    .01151

 

 17  .01347    .01311    .01276    .01244    .01213

 

 18  .01411    .01373    .01336    .01302    .01270

 

 19  .01474    .01434    .01396    .01359    .01325

 

 20  .01537    .01494    .01454    .01415    .01379

 

 21  .01598    .01553    .01510    .01470    .01432

 

 22  .01660    .01613    .01568    .01525    .01485

 

 23  .01725    .01674    .01627    .01581    .01539

 

 24  .01796    .01742    .01692    .01644    .01599

 

 25  .01876    .01819    .01765    .01714    .01666

 

 26  .01967    .01907    .01850    .01796    .01745

 

 27  .02072    .02008    .01948    .01890    .01836

 

 28  .02190    .02122    .02057    .01996    .01938

 

 29  .02322    .02249    .02181    .02116    .02054

 

 30  .02469    .02392    .02319    .02250    .02184

 

 31  .02634    .02552    .02475    .02401    .02331

 

 32  .02816    .02729    .02647    .02568    .02494

 

 33  .03018    .02926    .02838    .02755    .02675

 

 34  .03239    .03142    .03048    .02960    .02875

 

 35  .03482    .03378    .03279    .03185    .03095

 

 36  .03743    .03633    .03528    .03428    .03333

 

 37  .04026    .03909    .03798    .03692    .03591

 

 38  .04330    .04207    .04089    .03977    .03869

 

 39  .04658    .04528    .04403    .04284    .04170

 

 40  .05011    .04873    .04741    .04615    .04495

 

 41  .05389    .05244    .05104    .04971    .04844

 

 42  .05791    .05638    .05491    .05350    .05216

 

 43  .06219    .06057    .05902    .05754    .05612

 

 44  .06673    .06503    .06340    .06184    .06034

 

 45  .07157    .06978    .06806    .06642    .06484

 

 46  .07669    .07481    .07301    .07128    .06962

 

 47  .08212    .08015    .07826    .07645    .07470

 

 48  .08784    .08578    .08380    .08190    .08006

 

 49  .09384    .09169    .08961    .08762    .08570

 

 50  .10013    .09787    .09570    .09361    .09160

 

 51  .10671    .10436    .10209    .09991    .09780

 

 52  .11365    .11120    .10883    .10655    .10435

 

 53  .12095    .11840    .11593    .11355    .11126

 

 54  .12860    .12595    .12338    .12090    .11851

 

 55  .13663    .13386    .13120    .12862    .12613

 

 56  .14503    .14217    .13940    .13672    .13413

 

 57  .15385    .15089    .14801    .14523    .14254

 

 58  .16311    .16004    .15706    .15418    .15139

 

 59  .17279    .16961    .16654    .16355    .16066

 

 60  .18286    .17958    .17640    .17332    .17033

 

 61  .19330    .18992    .18665    .18347    .18038

 

 62  .20409    .20061    .19724    .19396    .19078

 

 63  .21522    .21165    .20818    .20480    .20152

 

 64  .22672    .22306    .21949    .21602    .21265

 

 65  .23867    .23491    .23125    .22769    .22423

 

 66  .25112    .24727    .24353    .23988    .23632

 

 67  .26409    .26016    .25633    .25260    .24896

 

 68  .27760    .27359    .26968    .26586    .26214

 

 69  .29157    .28748    .28350    .27961    .27581

 

 70  .30596    .30181    .29775    .29379    .28992

 

 71  .32069    .31648    .31236    .30833    .30440

 

 72  .33578    .33151    .32733    .32325    .31925

 

 73  .35123    .34691    .34269    .33855    .33450

 

 74  .36715    .36279    .35852    .35434    .35024

 

 75  .38360    .37921    .37491    .37069    .36656

 

 76  .40064    .39623    .39190    .38765    .38349

 

 77  .41823    .41381    .40947    .40521    .40103

 

 78  .43632    .43189    .42755    .42329    .41910

 

 79  .45473    .45032    .44599    .44173    .43755

 

 80  .47333    .46894    .46463    .46040    .45623

 

 81  .49191    .48755    .48328    .47907    .47493

 

 82  .51034    .50603    .50179    .49762    .49351

 

 83  .52852    .52427    .52008    .51595    .51189

 

 84  .54648    .54228    .53815    .53407    .53006

 

 85  .56426    .56013    .55606    .55205    .54810

 

 86  .58169    .57764    .57364    .56970    .56581

 

 87  .59850    .59452    .59060    .58673    .58291

 

 88  .61476    .61086    .60702    .60322    .59947

 

 89  .63078    .62697    .62321    .61950    .61583

 

 90  .64674    .64302    .63935    .63573    .63215

 

 91  .66238    .65877    .65520    .65167    .64819

 

 92  .67730    .67379    .67032    .66689    .66350

 

 93  .69130    .68789    .68452    .68119    .67789

 

 94  .70421    .70090    .69762    .69438    .69118

 

 95  .71594    .71272    .70954    .70639    .70326

 

 96  .72638    .72325    .72014    .71707    .71403

 

 97  .73590    .73285    .72982    .72682    .72385

 

 98  .74448    .74149    .73853    .73560    .73269

 

 99  .75240    .74948    .74658    .74371    .74086

 

 100  .75974    .75687    .75403    .75121    .74842

 

 101  .76669    .76388    .76109    .75833    .75559

 

 102  .77393    .77117    .76844    .76573    .76304

 

 103  .78158    .77888    .77620    .77355    .77091

 

 104  .79007    .78743    .78482    .78222    .77964

 

 105  .80065    .79809    .79556    .79304    .79054

 

 106  .81631    .81389    .81149    .80911    .80674

 

 107  .83963    .83745    .83529    .83313    .83099

 

 108  .87910    .87739    .87569    .87400    .87232

 

 109  .94563    .94484    .94405    .94326    .94248

 

 (table continued)

 

 AGE   13.2%     13.4%     13.6%     13.8%     14.0%

 

 0  .01618    .01607    .01596    .01586    .01576

 

 1  .00494    .00484    .00473    .00464    .00454

 

 2  .00461    .00449    .00439    .00428    .00419

 

 3  .00453    .00441    .00429    .00419    .00408

 

 4  .00460    .00447    .00435    .00423    .00412

 

 5  .00477    .00464    .00451    .00439    .00427

 

 6  .00502    .00487    .00473    .00460    .00448

 

 7  .00532    .00517    .00502    .00488    .00475

 

 8  .00570    .00554    .00538    .00523    .00509

 

 9  .00617    .00600    .00583    .00567    .00552

 

 10  .00674    .00655    .00637    .00620    .00604

 

 11  .00743    .00723    .00704    .00686    .00668

 

 12  .00820    .00799    .00779    .00760    .00741

 

 13  .00903    .00880    .00859    .00839    .00819

 

 14  .00982    .00958    .00936    .00914    .00894

 

 15  .01056    .01031    .01007    .00985    .00963

 

 16  .01123    .01097    .01072    .01048    .01025

 

 17  .01184    .01156    .01130    .01104    .01081

 

 18  .01239    .01210    .01182    .01155    .01130

 

 19  .01293    .01262    .01233    .01205    .01178

 

 20  .01345    .01313    .01282    .01252    .01224

 

 21  .01396    .01361    .01329    .01298    .01268

 

 22  .01446    .01410    .01375    .01343    .01312

 

 23  .01498    .01460    .01423    .01388    .01355

 

 24  .01556    .01515    .01476    .01439    .01404

 

 25  .01621    .01577    .01536    .01497    .01460

 

 26  .01696    .01650    .01606    .01565    .01525

 

 27  .01784    .01735    .01688    .01644    .01601

 

 28  .01883    .01831    .01781    .01734    .01689

 

 29  .01996    .01940    .01887    .01836    .01788

 

 30  .02122    .02062    .02006    .01952    .01900

 

 31  .02264    .02201    .02140    .02083    .02028

 

 32  .02423    .02355    .02291    .02229    .02170

 

 33  .02600    .02528    .02459    .02393    .02331

 

 34  .02795    .02718    .02645    .02575    .02508

 

 35  .03009    .02928    .02850    .02775    .02704

 

 36  .03242    .03155    .03072    .02992    .02916

 

 37  .03494    .03401    .03313    .03228    .03147

 

 38  .03767    .03668    .03574    .03484    .03398

 

 39  .04061    .03957    .03857    .03762    .03670

 

 40  .04379    .04269    .04163    .04061    .03964

 

 41  .04721    .04604    .04492    .04384    .04281

 

 42  .05086    .04962    .04844    .04729    .04620

 

 43  .05475    .05344    .05218    .05098    .04981

 

 44  .05890    .05752    .05619    .05491    .05368

 

 45  .06332    .06186    .06046    .05911    .05781

 

 46  .06802    .06649    .06501    .06358    .06221

 

 47  .07302    .07140    .06984    .06834    .06690

 

 48  .07830    .07660    .07496    .07338    .07186

 

 49  .08384    .08206    .08034    .07868    .07708

 

 50  .08966    .08779    .08598    .08424    .08256

 

 51  .09577    .09381    .09192    .09009    .08832

 

 52  .10222    .10017    .09819    .09628    .09442

 

 53  .10904    .10689    .10482    .10282    .10088

 

 54  .11619    .11396    .11179    .10970    .10767

 

 55  .12372    .12138    .11912    .11694    .11482

 

 56  .13162    .12919    .12683    .12456    .12235

 

 57  .13994    .13741    .13496    .13259    .13029

 

 58  .14868    .14606    .14352    .14105    .13866

 

 59  .15786    .15514    .15250    .14994    .14745

 

 60  .16743    .16462    .16188    .15922    .15664

 

 61  .17738    .17447    .17164    .16889    .16622

 

 62  .18768    .18467    .18175    .17891    .17614

 

 63  .19833    .19523    .19221    .18928    .18642

 

 64  .20937    .20617    .20306    .20003    .19708

 

 65  .22085    .21757    .21437    .21125    .20821

 

 66  .23286    .22948    .22619    .22299    .21986

 

 67  .24541    .24195    .23857    .23528    .23206

 

 68  .25851    .25497    .25151    .24814    .24484

 

 69  .27211    .26849    .26495    .26150    .25812

 

 70  .28614    .28245    .27884    .27532    .27187

 

 71  .30055    .29679    .29312    .28952    .28600

 

 72  .31535    .31152    .30778    .30412    .30054

 

 73  .33054    .32666    .32286    .31914    .31550

 

 74  .34623    .34230    .33845    .33468    .33098

 

 75  .36250    .35853    .35464    .35082    .34708

 

 76  .37941    .37540    .37148    .36762    .36384

 

 77  .39692    .39290    .38895    .38507    .38126

 

 78  .41499    .41095    .40698    .40309    .39926

 

 79  .43344    .42940    .42543    .42153    .41770

 

 80  .45213    .44811    .44414    .44025    .43642

 

 81  .47085    .46684    .46290    .45902    .45520

 

 82  .48947    .48549    .48157    .47772    .47392

 

 83  .50788    .50394    .50006    .49623    .49246

 

 84  .52610    .52221    .51836    .51458    .51084

 

 85  .54420    .54035    .53656    .53282    .52913

 

 86  .56197    .55818    .55445    .55076    .54713

 

 87  .57913    .57541    .57174    .56811    .56453

 

 88  .59577    .59212    .58851    .58494    .58142

 

 89  .61220    .60862    .60508    .60159    .59813

 

 90  .62861    .62511    .62165    .61823    .61485

 

 91  .64474    .64133    .63795    .63462    .63132

 

 92  .66014    .65682    .65354    .65029    .64708

 

 93  .67463    .67140    .66820    .66504    .66191

 

 94  .68800    .68486    .68175    .67867    .67563

 

 95  .70017    .69712    .69409    .69109    .68812

 

 96  .71101    .70803    .70507    .70215    .69925

 

 97  .72090    .71799    .71510    .71224    .70941

 

 98  .72981    .72696    .72414    .72134    .71856

 

 99  .73805    .73525    .73248    .72974    .72702

 

 100  .74566    .74292    .74020    .73751    .73484

 

 101  .75287    .75018    .74751    .74486    .74223

 

 102  .76037    .75773    .75511    .75251    .74993

 

 103  .76830    .76571    .76313    .76058    .75805

 

 104  .77709    .77455    .77203    .76953    .76705

 

 105  .78805    .78559    .78314    .78071    .77829

 

 106  .80438    .80204    .79972    .79741    .79511

 

 107  .82886    .82674    .82463    .82254    .82045

 

 108  .87064    .86897    .86731    .86566    .86401

 

 109  .94170    .94092    .94014    .93937    .93860

 

 _____________________________________________________________________

 

 TABLE 80CNSMT

 

 Age x      1(x)        Age x       1(x)        Age x       1(x)

 

 _____      ____        ______      ____        _____       ____

 

 (1)        (2)          (1)        (2)          (1)        (2)

 

 0        100000          37       95492         74        59279

 

 1         98740          38       95317         75        56799

 

 2         98648          39       95129         76        54239

 

 3         98584          40       94926         77        51599

 

 4         98535          41       94706         78        48878

 

 5         98495          42       94465         79        46071

 

 6         98459          43       94201         80        43180

 

 7         98426          44       93913         81        40208

 

 8         98396          45       93599         82        37172

 

 9         98370          46       93256         83        34095

 

 10        98347          47       92882         84        31012

 

 11        98328          48       92472         85        27960

 

 12        98309          49       92021         86        24961

 

 13        98285          50       91526         87        22038

 

 14        98248          51       90986         88        19235

 

 15        98196          52       90402         89        16598

 

 16        98129          53       89771         90        14154

 

 17        98047          54       89087         91        11908

 

 18        97953          55       88348         92         9863

 

 19        97851          56       87551         93         8032

 

 20        97741          57       86695         94         6424

 

 21        97623          58       85776         95         5043

 

 22        97499          59       84789         96         3884

 

 23        97370          60       83726         97         2939

 

 24        97240          61       82581         98         2185

 

 25        97110          62       81348         99         1598

 

 26        96982          63       80024        100         1150

 

 27        96856          64       78609        101          815

 

 28        96730          65       77107        102          570

 

 29        96604          66       75520        103          393

 

 30        96477          67       73846        104          267

 

 31        96350          68       72082        105          179

 

 32        96220          69       70218        106          119

 

 33        96088          70       68248        107           78

 

 34        95951          71       66165        108           51

 

 35        95808          72       63972        109           33

 

 36        95655          73       61673        110            0

 

 

(e) EFFECTIVE DATE. This section is effective as of May 1, 1989.

SECTION 20.2031-10 [REMOVED]

Par. 23. Section 20.2031-10 is removed.

Par. 24. Section 20.2055-2 is amended by revising paragraph (f)(4) to read as follows:

SECTION 20.2055-2 TRANSFERS NOT EXCLUSIVELY FOR CHARITABLE PURPOSES.

* * * * *

(f) * * *

(4) OTHER DECEDENTS. The present value of an interest not described in paragraph (f)(2) of this section is to be determined under section 20.2031-7(d) in the case of decedents where the valuation date of the gross estate is after April 30, 1989, or under section 20.2031-7A in the case of decedents where the valuation date of the gross estate is before May 1, 1989.

* * * * *

Par. 25. Immediately following section 20.7101-1, an undesignated center heading and sections 20.7520-1 through 20.7520-4 are added to read as follows:

GENERAL ACTUARIAL VALUATIONS

SECTION 20.7520-1 VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS.

(a) GENERAL ACTUARIAL VALUATIONS. (1) Except as otherwise provided in this section and in section 20.7520-3 (relating to exceptions to the use of prescribed tables under certain circumstances), in the case of estates of decedents with valuation dates after April 30, 1989, the fair market value of annuities, interests for life or for a term of years (including unitrust interests), remainders, and reversions is their present value determined under this section. See section 20.2031-7(d) (and, for certain prior periods, section 20.2031-7A) of this chapter for the computation of the value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions, other than interests described in paragraphs (a)(2) and (a)(3) of this section.

(2) In the case of a transfer to a pooled income fund with a valuation date after April 30, 1989, see section 1.642(c)-6(e) (or, for certain prior periods, section 1.642(c)-6A) of this chapter (Income Tax Regulations) with respect to the valuation of the remainder interest.

(3) In the case of a transfer to a charitable remainder annuity trust with a valuation date after April 30, 1989, see section 1.664-2 of this chapter with respect to the valuation of the remainder interest. See section 1.664-4 (or, for certain prior periods, section 1.664-4A) of this chapter with respect to the valuation of the remainder interest in property transferred to a charitable remainder unitrust.

(b) COMPONENTS OF VALUATION -- (1) INTEREST RATE COMPONENT -- (i) SECTION 7520 INTEREST RATE. The section 7520 interest rate is the rate of return, rounded to the nearest two-tenths of one percent, that is equal to 120 percent of the applicable Federal mid-term rate, compounded annually, for purposes of section 1274(d)(1), for the month in which the valuation date falls. In rounding the rate to the nearest two-tenths of a percent, any rate that is midway between one two-tenths of a percent and another is rounded up to the higher of those two rates. For example, if 120 percent of the applicable Federal mid-term rate is 10.30, the section 7520 interest rate component is 10.4. The section 7520 interest rate is published monthly by the Internal Revenue Service in the Internal Revenue Bulletin (See section 601.601(d)(2)(ii)(b) of this chapter).

(ii) VALUATION DATE. Generally, the valuation date is the date on which the transfer takes place. For estate tax purposes, the valuation date is the date of the decedent's death, unless the executor elects the alternate valuation date in accordance with section 2032, in which event, and under the limitations prescribed in section 2032 and the regulations thereunder, the valuation date is the alternate valuation date. For special rules in the case of charitable transfers, see section 20.7520-2.

(2) MORTALITY COMPONENT. The mortality component reflects the mortality data most recently available from the United States census. As new mortality data becomes available after each decennial census, the mortality component described in this section will be revised periodically and the revised mortality component tables will be published in the regulations at that time. For decedents' estates with valuation dates after April 30, 1989, the mortality component table (Table 80CNSMT) is included in section 20.2031-7(d)(6). See section 20.2031-7A for mortality component tables applicable to decedent's estates with valuation dates before May 1, 1989.

(c) TABLES. The present value on the valuation date of an annuity, life estate, term of years, remainder, or reversion is computed by using the section 7520 interest rate component that is described in paragraph (b)(1) of this section and the mortality component that is described in paragraph (b)(2) of this section. Actuarial factors for determining these present values are included in tables in these regulations and in publications by the Internal Revenue Service. If a special factor is required in order to value an interest, the Internal Revenue Service will furnish the factor upon a request for a ruling. The request for a ruling must be accompanied by a recitation of the facts, including the date of birth for each measuring life and copies of relevant instruments. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see Rev. Proc. 94-1, 1994-1 I.R.B. 10, and the first Rev. Proc. published each year, and sections 601. 201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee.

(1) REGULATION SECTIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 4.2 AND 14 PERCENT. Section 1.642(c)-6(e)(4) of this chapter contains Table S used for determining the present value of a single life remainder interest in a pooled income fund as defined in section 1.642(c)-5 of this chapter (Income Tax Regulations). Section 1.664-4(e)(6) of this chapter contains Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years), Table U(1) (actuarial factors for one life), and Table F (payout factors) used in determining the present value of a remainder interest in a charitable remainder unitrust as defined in section 1.664-3 of this chapter. Section 20.2031-7(d)(6) contains Table S (actuarial factors for one life), Table B (actuarial factors used in determining the present value of an interest for a term of years), Table K (annuity end-of-interval adjustment factors), Table J (term certain annuity beginning-of-interval adjustment factors), and Table 80CNSMT (mortality components) used in determining the present value of annuities, life estates, remainders, and reversions. The regulations will be revised periodically to include new mortality component tables and new tables of factors.

(2) INTERNAL REVENUE SERVICE PUBLICATIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 2.2 AND 2.6 PERCENT. The following documents (except for Publication 1459) have been published for sale by the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8/89). This publication includes tables of valuation factors, as well as examples that show how to compute other valuation factors, for determining the present value of annuities, life estates, terms of years, remainders, and reversions, measured by one or two lives. These factors may also be used in the valuation of interests in a charitable remainder annuity trust as defined in section 1.664-2 of this chapter (Income Tax Regulations) and a pooled income fund as defined in section 1.642(c)-5 of this chapter.

(ii) Internal Revenue Service Publication 1458, "Actuarial Values, Beta Volume," (8/89). This publication includes term certain tables and tables of one and two life valuation factors for determining the present value of remainder interests in a charitable remainder unitrust as defined in section 1.664-3 of this chapter.

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89) is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 1459), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. This publication includes tables for computing depreciation adjustment factors. See section 1.170A-12 of this chapter (Income Tax Regulations).

(d) EFFECTIVE DATE. This section is effective as of May 1, 1989.

SECTION 20.7520-2 VALUATION OF CHARITABLE INTERESTS.

(a) IN GENERAL -- (1) VALUATION. Except as otherwise provided in this section and in section 20.7520-3 (relating to exceptions to the use of prescribed tables under certain circumstances), the fair market value of annuities, interests for life or for a term of years, remainders, and reversions for which an estate tax charitable deduction is allowable is the present value of such interests determined under section 20.7520-1.

(2) PRIOR-MONTH ELECTION RULE. If any part of the property interest transferred qualifies for an estate tax charitable deduction under section 2055 or 2106, the executor may compute the present value of the transferred interest by use of the section 7520 interest rate for the month during which the interest is transferred or the section 7520 interest rate for either of the 2 months preceding the month during which the interest is transferred. Paragraph (b) of this section explains how a prior-month election is made. The interest rate for the month so elected is the applicable section 7520 interest rate. If the executor elects the alternate valuation date under section 2032 and also elects to use the section 7520 interest rate for either of the 2 months preceding the month in which the interest is transferred, the month so elected (either of the 2 months preceding the month in which the alternate valuation date falls) is the valuation date. If the actuarial factor for either or both of the 2 months preceding the month during which the interest is transferred is based on a mortality experience that is different from the mortality experience at the date of the transfer and if the executor elects to use the section 7520 rate for a prior month with the different mortality experience, the executor must use the actuarial factor derived from the mortality experience in effect during the month of the section 7520 rate elected. All actuarial computations relating to the transfer must be made by applying the interest rate component and the mortality component of the month elected by the executor.

(3) TRANSFERS OF MORE THAN ONE INTEREST IN THE SAME PROPERTY. If a decedent's estate includes the transfer of more than one interest in the same property, the executor must, for purposes of valuing the transferred interests, use the same interest rate and mortality components for each interest in the property transferred.

(4) INFORMATION REQUIRED WITH TAX RETURN. The following information must be attached to the estate tax return (or be filed subsequently as supplemental information to the return) if the estate claims a charitable deduction for the present value of a temporary or remainder interest in property --

(i) A complete description of the interest that is transferred, including a copy of the instrument of transfer;

(ii) The valuation date of the transfer;

(iii) The names and identification numbers of the beneficiaries of the transferred interest;

(iv) The names and birthdates of any measuring lives, a description of any relevant terminal illness condition of any measuring life, and (if applicable) an explanation of how any terminal illness condition was taken into account in valuing the interest; and

(v) A computation of the deduction showing the applicable section 7520 interest rate that is used to value the transferred interest.

(5) PLACE FOR FILING RETURNS. See section 6091 of the Internal Revenue Code and the regulations thereunder for the place for filing the return or other document required by this section.

(b) ELECTION OF INTEREST RATE COMPONENT -- (1) TIME FOR MAKING ELECTION. An executor makes a prior-month election under paragraph (a)(2) of this section by attaching the information described in paragraph (b)(2) of this section to the decedent's estate tax return or by filing a supplemental statement of the election information within 24 months after the later of the date the original estate tax return was filed or the due date for filing the return.

(2) MANNER OF MAKING ELECTION. A statement that the prior-month election under section 7520(a) of the Internal Revenue Code is being made and that identifies the elected month must be attached to the estate tax return (or by subsequently filing the statement as supplemental information to the return).

(3) REVOCABILITY. The prior-month election may be revoked by filing a statement of supplemental information within 24 months after the later of the date the original return of tax for the decedent's estate was filed or the due date for filing the return. The revocation must be filed in the place referred to in paragraph (a)(5) of this section.

(c) EFFECTIVE DATES. Paragraph (a) of this section is effective as of May 1, 1989. Paragraph (b) of this section is effective for elections made after June 10, 1994.

SECTION 20.7520-3 LIMITATION ON THE APPLICATION OF SECTION 7520.

(a) INTERNAL REVENUE CODE SECTIONS TO WHICH SECTION 7520 DOES NOT APPLY. Section 7520 of the Internal Revenue Code does not apply for purposes of:

(1) Part I, subchapter D of subtitle A (section 401 et seq.), relating to the income tax treatment of certain qualified plans. (However, section 7520 does apply to the estate and gift tax treatment of certain qualified plans and for purposes of determining excess accumulations under section 4980A);

(2) Sections 72 and 101(b), relating to the income taxation of life insurance, endowment, and annuity contracts, unless otherwise provided for in the regulations under sections 72, 101, and 1011 (see, particularly, sections 1.101-2(e)(1)(iii)(b)(2), and 1.1011-2(c), example 8);

(3) Sections 83 and 451, unless otherwise provided for in the regulations under those sections;

(4) Section 457, relating to the valuation of deferred compensation, unless otherwise provided for in the regulations under section 457;

(5) Sections 3121(v) and 3306(r), relating to the valuation of deferred amounts, unless otherwise provided for in the regulations under those sections;

(6) Section 6058, relating to valuation statements evidencing compliance with qualified plan requirements, unless otherwise provided for in the regulations under section 6058;

(7) Section 7872, relating to income and gift taxation of interest-free loans and loans with below-market interest rates, unless otherwise provided for in the regulations under section 7872; or

(8) Section 2702(a)(2)(A), relating to the value of a nonqualified retained interest upon a transfer of an interest in trust to or for the benefit of a member of the transferor's family; and

(9) Any other sections of the Internal Revenue Code to the extent provided by the Internal Revenue Service in revenue rulings or revenue procedures. (See sections 601.201 and 601.601 of this chapter).

(b) OTHER LIMITATIONS ON THE APPLICATION OF SECTION 7520. [RESERVED].

(c) EFFECTIVE DATE. Sections 20.7520-3(a) is effective as of May 1, 1989.

SECTION 20.7520-4 TRANSITIONAL RULES.

(a) RELIANCE. If the valuation date is after April 30, 1989, and before June 10, 1994, an executor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See section 601.601(d)(2)(ii)(b) of this chapter), in valuing the transferred interest.

(b) EFFECTIVE DATE. This section is effective as of May 1, 1989.

PART 25 -- GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954

Par. 26. The authority citation for part 25 is revised to read as follows:

Authority: 26 U.S.C. 7805.

 Section 25.2512-5 also issued under 26 U.S.C. 7520(c)(2).

 

 Section 25.2512-5A also issued under 26 U.S.C. 7520(c)(2).

 

 Section 25.7520-1 also issued under 26 U.S.C. 7520(c)(2)

 

 Section 25.7520-2 also issued under 26 U.S.C. 7520(c)(2).

 

 Section 25.7520-3 also issued under 26 U.S.C. 7520(c)(2)

 

 Section 25.7520-4 also issued under 26 U.S.C. 7520(c)(2).

 

 

Par. 27. Section 25.2512-0 is added to read as follows:

SECTION 25.2512-0 TABLE OF CONTENTS.

This section lists the section headings that appear in the regulations under section 2512.

 Section 25.2512-1 Valuation of property; in general.

 

 Section 25.2512-2 Stocks and bonds.

 

 Section 25.2512-3 Valuation of interests in businesses.

 

 Section 25.2512-4 Valuation of notes.

 

 Section 25.2512-5 Valuation of annuities, unitrust interests,

 

 interests for life or term of years, and remainder or

 

 reversionary interests transferred after April 30, 1989.

 

 Section 25. 2512-6 Valuation of certain life insurance and annuity

 

 contracts; valuation of shares in an open-end investment

 

 company.

 

 Section 25. 2512-7 Effect of excise tax.

 

 Section 25. 2512-8 Transfers for insufficient consideration.

 

 ACTUARIAL TABLES APPLICABLE BEFORE MAY 1, 1989

 

 Section 25.2512-5A Valuation of annuities, unitrust interests,

 

 interests for life or term of years, and remainder or

 

 reversionary interests transferred before May 1, 1989.

 

 

Par. 28. Immediately following section 25.2518-3 an undesignated center heading and section 25.2512-5A are added to read as follows:

ACTUARIAL TABLES APPLICABLE BEFORE MAY 1, 1989

SECTION 25.2512-5A VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED BEFORE MAY 1, 1989.

(a) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED BEFORE JANUARY 1, 1952. Except as otherwise provided in section 25.2512-5(b), if the transfer was made before January 1, 1952, the present value of annuities, life estates, terms of years, remainders, and reversions is their present value determined under this section. If the valuation of the interest involved is dependent upon the continuation or termination of one or more lives or upon a term certain concurrent with one or more lives, the factor for the present value is computed on the basis of interest at the rate of 4 percent a year, compounded annually, and life contingencies for each life involved from values that are based upon the "Actuaries' or Combined Experience Table of Mortality, as extended." This table and many additional factors are described in former section 86.19 (as contained in the 26 CFR Part 81 edition revised as of April 1, 1958). The present value of an interest measured by a term of years is computed on the basis of interest at the rate of 4 percent a year.

(b) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED AFTER DECEMBER 31, 1951, AND BEFORE JANUARY 1, 1971. Except as otherwise provided in section 25.2512-5(b), the present value of annuities, life estates, terms of years, remainders, and reversions transferred after December 31, 1951, and before January 1, 1971, is the present value of such interests determined under this section. If the value of the interest involved is dependent upon the continuation or termination of one or more lives, the factor for the present value is computed on the basis of interest at the rate of 3 1/2 percent a year, compounded annually, and life contingencies for each life involved from U.S. Life Table 38. This table and many accompanying factors are set forth in former section 25.2512-5 (as contained in the 26 CFR Part 25 edition revised as of April 1, 1984). Special factors involving one and two lives may be found in or computed with the use of tables contained in Internal Revenue Service Publication Number 11, "Actuarial Values for Estate and Gift Tax," (Rev. 5-59). This publication is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 11), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. The present value of an interest measured by a term of years is computed on the basis of interest at the rate of 3 1/2 percent a year.

(c) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED AFTER DECEMBER 31, 1970, AND BEFORE DECEMBER 1, 1983. Except as otherwise provided in section 25.2512-5(b), the present value of annuities, life estates, terms of years, remainders, and reversions transferred after December 31, 1970, and before December 1, 1983, is the present value of such interests determined under this section. If the interest to be valued is dependent upon the continuation or termination of one or more lives or upon a term certain concurrent with one or more lives, the factor for the present value is computed on the basis of interest at the rate of 6 percent a year, compounded annually, and life contingencies determined for each male and female life involved, from the values that are set forth in Table LN. Table LN contains values that are taken from the life table for total males and the life table for total females appearing as Tables 2 and 3, respectively, in United States Life Tables: 1959-61, published by the Department of Health and Human Services, Public Health Service. Table LN and accompanying factors are set forth in former section 25.2512-9 (as contained in the 26 CFR Part 25 edition revised as of April 1, 1994). Special factors involving one and two lives may be found in or computed with the use of tables contained in Internal Revenue Service Publication 723, entitled "Actuarial Values I: Valuation of Last Survivor Charitable Remainders" (12-70), and Internal Revenue Service Publication 723A, entitled "Actuarial Values II: Factors at 6 Percent Involving One and Two Lives" (12-70). These publications are no longer available for purchase from the Superintendent of Documents. However, a copy of each may be obtained from: CC:DOM:CORP:T:R (IRS Publication 723/723A), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. The present value of an interest measured by a term of years is computed on the basis of interest at the rate of 6 percent a year.

Par. 29. Section 25.2512-5 is redesignated as paragraph (d) of section 25.2512-5A and amended as follows:

1. The following redesignation table indicates the old CFR unit numbers for section 25.2512-5 and the corresponding new CFR unit numbers for section 25.2512-5A(d):

 Old CFR unit number in                  Corresponding new number in

 

 section 25.2512-5                         section 25.2512-5A(d)

 

 ____________________________________________________________________

 

 section 25.2512-5 heading                   paragraph (d) heading

 

 (a)                                          (d)(1)

 

 (a)(1)                                       (d)(1)(i)

 

 (a)(1)(i)                                    (d)(1)(i)(A)

 

 (a)(1)(ii)                                   (d)(1)(i)(B)

 

 (a)(1)(ii)(A)                                (d)(1)(i)(B)(1)

 

 (a)(1)(ii)(B)                                (d)(1)(i)(B)(2)

 

 (a)(1)(iii)                                  (d)(1)(i)(C)

 

 (a)(1)(iii)(A)                               (d)(1)(i)(c)(1)

 

 (a)(1)(iii)(B)                               (d)(1)(i)(C)(2)

 

 (a)(2)                                       (d)(1)(ii)

 

 (a)(3)                                       (d)(1)(iii)

 

 (b)                                          (d)(2)

 

 (b)(1)                                       (d)(2)(i)

 

 (b)(2)                                       (d)(2)(ii)

 

 (b)(3)                                       (d)(2)(iii)

 

 (b)(3)(i)                                    (d)(2)(iii)(A)

 

 (b)(3)(ii)                                   (d)(2)(iii)(B)

 

 (c)                                          (d)(3)

 

 (d)                                          (d)(4)

 

 (e)                                          (d)(5)

 

 (f)                                          (d)(6)

 

 

2. The paragraph heading for paragraph (d) is revised.

3. Newly designated paragraph (d)(1)(i)(A) is amended by revising the first sentence and removing the eighth and last sentences.

4. In newly designated paragraph (d)(1)(i)(B), the concluding text is amended by revising the first full sentence.

5. In newly designated paragraph (d)(1)(i)(C), the concluding text is amended by revising the first and second full sentences.

6. Newly designated paragraph (d)(1)(iii) is revised.

7. Newly designated paragraph (d)(5) is amended by revising the second and third sentences.

8. Newly designated paragraph (d)(6) is revised.

9. The revisions read as follows:

SECTION 25.2512-5A VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED BEFORE MAY 1, 1989.

* * * * *

(d) VALUATION OF ANNUITIES, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED AFTER NOVEMBER 30, 1983, AND BEFORE MAY 1, 1989 -- (1) IN GENERAL. (i)(A) Except as otherwise provided in section 25.2512-5(b) and in this paragraph (d)(1)(i)(A), the fair market value of annuities, life estates, terms of years, remainders, and reversions transferred after November 30, 1983, and before May 1, 1989, is the present value of such interests determined under this section. * * *

(B) * * *

* * * The donor may elect to value both interests transferred in 1983 under section 25.2512-5A(c) as if such section applied to all transfers made before January 1, 1984, or the donor may elect to have both interests transferred valued under this section. * * *

(C) * * *

* * * The donor may elect to value the interest transferred in 1984 under section 25.2512-5A(c) as if such section applied to all transfers made before January 1, 1985, or the donor may elect to have the transfer valued under this section. If the donor elects to value the interest transferred in 1984 under section 25.2512-5A(c), the donor shall indicate that the election is being made by attaching a statement to the donor's gift tax return for 1984. * * *

* * * * *

(iii) In all examples set forth in this section, the interest is assumed to have been transferred after November 30, 1983, and before May 1, 1989.

* * * * *

(5) * * * The factor is to be computed on the basis of interest at the rate of 10 percent a year, compounded annually, and life contingencies are determined for each person involved from the values of lx that are set forth in column 2 of Table LN in section 20.2031-7A(d)(6) of this chapter. Table LN contains values of lx taken from the life table for the total population appearing as Table 1 in United States Life Tables: 1969-71, published by the Department of Health and Human Services, Public Health Service.

* * * * *

(6) TABLES. (i) For actuarial factors showing the present worth at 10 percent of a single life annuity, a life interest, and a remainder interest postponed for a single life, see section 20.2031-7A(d)(6) of this chapter, Table A, of the Estate Tax Regulations.

(ii) For actuarial factors showing the present worth at 10 percent of an annuity for a term certain, an income interest for a term certain, and a remainder interest postponed for a term certain, see section 20.2031-7A(d)(6) of this chapter, Table B, of the Estate Tax Regulations.

Par. 30. New section 25.2512-5 is added to read as follows:

SECTION 25.2512-5 VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS TRANSFERRED AFTER APRIL 30, 1989.

(a) IN GENERAL. Except as otherwise provided in paragraph (b) of this section and section 25.7520-3(b), the fair market value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions transferred by gift is the present value of the interests determined under paragraph (d) of this section. Section 20.2031-7 of this chapter (Estate Tax Regulations) and related sections provide tables with standard actuarial factors and examples that illustrate how to use the tables to compute the present value of ordinary annuity, life, and remainder interests in property. These sections also refer to standard and special actuarial factors that may be necessary to compute the present value of similar interests in more unusual fact situations. These factors and examples are also generally applicable for gift tax purposes in computing the values of taxable gifts.

(b) COMMERCIAL ANNUITIES AND INSURANCE CONTRACTS. The value of life insurance contracts and contracts for the payment of annuities issued by companies regularly engaged in their sale is determined under section 25.2512-6.

(c) ACTUARIAL VALUATIONS BEFORE MAY 1, 1989. The present value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions transferred by gift before May 1, 1989, is determined under the following sections:

 Transfers

 

 ___________________                 Applicable

 

 After        Before                 Regulations

 

 _____        ______                 ___________

 

 -            01-01-52                25.2512-5A(a)

 

 12-31-51     01-01-71                25.2512-5A(b)

 

 12-31-70     12-01-83                25.2512-5A(c)

 

 11-30-83     05-01-89                25.2512-5A(d)

 

 

(d) ACTUARIAL VALUATIONS AFTER APRIL 30, 1989 -- (1) IN GENERAL. Except as otherwise provided in paragraph (b) of this section and section 25.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances), if the valuation date for the gift is after April 30, 1989, the fair market value of annuities, life estates, terms of years, remainders, and reversions transferred after April 30, 1989, is the present value of such interests determined by use of standard or special section 7520 actuarial factors. These factors are derived by using the appropriate section 7520 interest rate and, if applicable, the mortality component for the valuation date of the interest that is being valued. See sections 25.7520-1 through 25.7520-4. The fair market value of a qualified annuity interest described in section 2702(b)(1) and a qualified unitrust interest described in section 2702(b)(2) is the present value of such interests determined under section 25.7520-1(c).

(2) SPECIFIC INTERESTS. When the donor transfers property in trust or otherwise and retains an interest therein, generally, the value of the gift is the value of the property transferred less the value of the donor's retained interest. However, if the donor transfers property after October 8, 1990, to or for the benefit of a member of the donor's family, the value of the gift is the value of the property transferred less the value of the donor's retained interest as determined under section 2702. If the donor assigns or relinquishes an annuity, life estate, remainder, or reversion that the donor holds by virtue of a transfer previously made by the donor or another, the value of the gift is the value of the interest transferred. However, see section 2519 for a special rule in the case of the assignment of an income interest by a person who received the interest from a spouse.

(i) CHARITABLE REMAINDER TRUSTS. The fair market value of a remainder interest in a pooled income fund, as defined in section 1.642(c)-5 of this chapter (Income Tax Regulations), is its value determined under section 1.642(c)-6(e) of this chapter. The fair market value of a remainder interest in a charitable remainder annuity trust, as described in section 1.664-2(a) of this chapter, is its present value determined under section 1.664-2(c) of this chapter. The fair market value of a remainder interest in a charitable remainder unitrust, as defined in section 1.664-3 of this chapter, is its present value determined under section 1.664-4(e) of this chapter. The fair market value of a life interest or term for years in a charitable remainder unitrust is the fair market value of the property as of the date of transfer less the fair market value of the remainder interest, determined under section 1.664-4(e) of this chapter.

(ii) ORDINARY REMAINDER AND REVERSIONARY INTERESTS. If the interest to be valued is to take effect after a definite number of years or after the death of one individual, the present value of the interest is computed by multiplying the value of the property by the appropriate remainder interest actuarial factor (that corresponds to the applicable section 7520 interest rate and remainder interest period) in Table B (for a term certain) or Table S (for one measuring life), as the case may be. Tables B and S are included in section 20.2031-7(d)(6) of this chapter (Estate Tax Regulations) and in Internal Revenue Service Publication 1457. For information about obtaining actuarial factors for other types of remainder interests, see paragraph (d)(4) of this section.

(iii) ORDINARY TERM-OF-YEARS AND LIFE INTERESTS. If the interest to be valued is the right of a person to receive the income of certain property, or to use certain nonincome-producing property, for a term of years or for the life of one individual, the present value of the interest is computed by multiplying the value of the property by the appropriate term-of-years or life interest actuarial factor (that corresponds to the applicable section 7520 interest rate and term-of-years or life interest period). Internal Revenue Service Publication 1457 includes actuarial factors for an interest for a term of years in Table B and for the life of one individual in Table S. However, term-of-years and life interest actuarial factors are not included in Table B or Table S in section 20.2031-7(d)(6) of this chapter. If Internal Revenue Service Publication 1457 (or any other reliable source of term-of-years and life interest actuarial factors) is not conveniently available, an actuarial factor for the interest may be derived mathematically. This actuarial factor may be derived by subtracting the correlative remainder factor (that corresponds to the applicable section 7520 interest rate and the term of years or the life) in Table B (for a term of years) or in Table S (for the life of one individual) in section 20.2031-7(d)(6), as the case may be, from 1.000000. For information about obtaining actuarial factors for other types of term-of-years and life interests, see paragraph (d)(4) of this section.

(iv) ANNUITIES. (A) If the interest to be valued is the right of a person to receive an annuity that is payable at the end of each year for a term of years or for the life of one individual, the present value of the interest is computed by multiplying the aggregate amount payable annually by the appropriate annuity actuarial factor (that corresponds to the applicable section 7520 interest rate and annuity period). Internal Revenue Service Publication 1457 includes actuarial factors in Table B (for an annuity payable for a term of years) and in Table S (for an annuity payable for the life of one individual). However, annuity actuarial factors are not included in Table B or Table S in section 20.2031-7(d)(6) of this chapter. If Internal Revenue Service Publication 1457 (or any other reliable source of annuity actuarial factors) is not conveniently available, an annuity factor for a term of years or for one life may be derived mathematically. This annuity factor may be derived by subtracting the applicable remainder factor (that corresponds to the applicable section 7520 interest rate and annuity period) in Table B (in the case of a term-of-years annuity) or in Table S (in the case of a one-life annuity) in section 20.2031-7(d)(6), as the case may be, from 1.000000 and then dividing the result by the applicable section 7520 interest rate expressed as a decimal number. See section 20.2031-7(d)(2)(iv) of this chapter for an example that illustrates the computation of the present value of an annuity.

(B) If the annuity is payable at the end of semiannual, quarterly, monthly, or weekly periods, the product obtained by multiplying the annuity factor by the aggregate amount payable annually is then multiplied by the applicable adjustment factor set forth in Table K in section 20.2031-7(d)(6) of this chapter at the appropriate interest rate component for payments made at the end of the specified periods. The provisions of this paragraph (d)(2)(iv)(B) are illustrated by the following example:

EXAMPLE. On July 1, 1989, the donor agrees to pay the annuitant the sum of $10,000 per year, payable in equal semiannual installments at the end of each period. The semiannual installments are to be made on each December 31st and June 30th. The annuity is payable until the annuitant's death. On July 1, 1989, the annuitant is 68 years and 5 months old. The donee annuitant's age is taken as 68 for purposes of computing the present value of the retained annuity. The section 7520 rate for July 1989 is 10.6 percent. Under Table S, the factor at 10.6 percent for determining the present value of a remainder interest payable at the death of an individual aged 68 is .31371. Converting the remainder factor to an annuity factor, as described above, the annuity factor for determining the present value of an annuity transferred to an individual age 68 is 6.4744 (1.00000 minus .31371. divided by 10.6). The adjustment factor from Table K in the column for payments made at the end of each semiannual period at the rate of 10.6 percent is 1.0258. The aggregate annual amount of the annuity, $10,000, is multiplied by the factor 6.4744 and the product multiplied by 1.0258. The present value of the annuity beneficiary's interest is, therefore, $66,414 ($10,000 X 6.4744 X 1.0258).

(C) If an annuity is payable at the beginning of annual, semiannual, quarterly, monthly, or weekly periods for a term of years, the value of the annuity is computed by multiplying the aggregate amount payable annually by the annuity factor described in paragraph (d)(2)(iv)(A) of this section; and the product so obtained is then multiplied by the adjustment factor in Table J in section 20.2031-7(d)(6) of this chapter at the appropriate interest rate component for payments made at the beginning of specified periods. If an annuity is payable at the beginning of annual, semiannual, quarterly, monthly, or weekly periods for one or more lives, the value of the annuity is the sum of the first payment plus the present value of a similar annuity, the first payment of which is not to be made until the end of the payment period, determined as provided in paragraph (d)(2)(iv)(B) of this section.

(v) ANNUITY AND UNITRUST INTERESTS FOR A TERM OF YEARS OR UNTIL THE PRIOR DEATH OF AN INDIVIDUAL -- (A) ANNUITY INTERESTS. The present value of an annuity interest that is payable until the earlier to occur of the lapse of a specific number of years or the death of an individual may be computed with values from the tables in 20.2031-7(d)(6) as described in the following example:

EXAMPLE. On January 1, 1991, the donor transfers $100,000 into a trust and retains the right to receive an annuity from the trust in the amount of $6,000 per year, payable in equal semiannual installments at the end of each period. The semiannual installments are to be made on each June 30th and December 31st. The annuity is payable for 10 years or until the donor's prior death. On January 1, 1991, the donor is 59 years and 6 months old. The donor's age is taken as 60 for purposes of computing the present value of the retained annuity. The section 7520 rate for January 1991 is 9.8 percent. The present value of the annuity beneficiary's interest is $35,424.00, determined as follows:

 TABLE S value at 9.8 percent, age 60         .23158

 

 TABLE S value at 9.8 percent, age 70         .36468

 

 TABLE 80CNSMT value at age 70                 68248

 

 TABLE 80CNSMT value at age 60                 83726

 

 TABLE B value at 9.8 percent, 10 years      .392624

 

 TABLE K value at 9.8 percent                 1.0239

 

 Factor for annuity beneficiary's interest at 9.8 percent:

 

 (1.00000 - .23158) - (.392624 X (68248/83726) X (1.00000 -

 

 .36468)) = 5.7662/.098

 

 Present value of annuity beneficiary's interest:

 

 ($6,000 X 5.7662 X 1.0239)                   $35,424.07

 

 

(B) UNITRUST INTERESTS. The present value of a unitrust interest that is payable until the earlier to occur of the lapse of a specific number of years or the death of an individual may be computed with values from the tables in section 1.664-4(e)(6) as described in the following example:

EXAMPLE. The donor who, as of the nearest birthday, is 60 years old transfers $100,000 to a unitrust on January 1, 1991. The trust instrument requires that each year the trust pay to the donor, in equal semiannual installments on June 30th and December 31st, 6 percent of the fair market value of the trust assets, valued as of January 1st each year, for 10 years or until the prior death of the donor. The section 7520 rate for January 1991 is 9.8 percent. Under Table F(9.8), the appropriate adjustment factor is .932539 for semiannual payments payable at the end of the semiannual period. The adjusted payout rate is 5.595 percent (6% X .932539). The present value of the unitrust beneficiary's interest is $40,495.00 determined as follows:

 TABLE U(1) value at 5.6 percent, age 60      .37017

 

 TABLE U(1) value at 5.6 percent, age 70      .50971

 

 TABLE 80CNSMT value at age 70                 68248

 

 TABLE 80CNSMT value at age 60                 83726

 

 TABLE D value at 5.6 percent, 10 years      .561979

 

 Factor for unitrust beneficiary's interest at 5.6 percent:

 

 (1.000000 - .37017) - (.561979 X (68248/83726) X (1.000000 -

 

 .50971)) = .40523

 

 TABLE U(1) value at 5.4 percent, age 60      .38183

 

 TABLE U(1) value at 5.4 percent, age 70      .52086

 

 TABLE 80CNSMT value at age 70                 68248

 

 TABLE 80CNSMT value at age 60                 83726

 

 TABLE D value at 5.4 percent, 10 years      .573999

 

 Factor for the unitrust beneficiary's interest at 5.4

 

 percent:

 

 (1.000000 - .38183) - (.573999 X (68248/83726) X (1.000000 -

 

 .52086)) = .39399    Difference   .01124

 

 Interpolation adjustment:

 

 (5.595% - 5.4%) / 0.2%   =    x / .01124

 

 x =  .01096

 

 Factor at 5.4 percent, age 60                     .39399

 

 Plus: Interpolation adjustment                    .01096

 

                                                   ______

 

 Interpolated Factor                               .40495

 

 Present value of unitrust beneficiary's interest:

 

 ($100,000 X .40495)            $40,495.00

 

 

(3) TRANSITIONAL RULE. (i) If the valuation date of a transfer of an interest in property by gift is after April 30, 1989, and before June 10, 1994, a donor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700, in valuing the transferred interest. (See section 601.601(d)(2)(ii)(b) of this chapter.)

(ii) If a donor transferred an interest in property by gift after December 31, 1988, and before May 1, 1989, retaining an interest in the same property, and after April 30, 1989, and before January 1, 1990, transferred the retained interest in property, the donor may, at the option of the donor, value the transfer of the retained interest under this section or under section 25.2512-5A(d).

(4) PUBLICATIONS AND ACTUARIAL COMPUTATIONS BV THE INTERNAL REVENUE SERVICE. Many standard actuarial factors not included in section 20.2031-7(d)(6) of this chapter are included in Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8-89). Internal Revenue Service Publication 1457 also includes examples that illustrate how to compute many special factors for more unusual situations. A copy of this publication may be purchased from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. If a special factor is required in the case of a completed gift, the Service may furnish the factor to the donor upon a request for a ruling. The request for a ruling must be accompanied by a recitation of the facts including a statement of the date of birth for each measuring life, the date of the gift, any other applicable dates, and a copy of the will, trust, or other relevant documents. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see sections 601.201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee.

(e) EFFECTIVE DATE. This section is effective as of May 1, 1989.

SECTION 25.2512-9 (REMOVED)

Par. 31. Section 25.2512-9 is removed.

Par. 32. Section 25.2515-2, paragraph (c) is amended by revising the first and last sentences to read as follows:

SECTION 25.2515-2 TENANCIES BY THE ENTIRETY; TRANSFERS TREATED AS GIFTS; MANNER OF ELECTION AND VALUATION.

* * * * *

(c) Factors representing the respective interests of the spouses, under a tenancy by the entirety, at their attained ages at the time of the transaction may be readily computed based on the method described in section 25.2512-5. * * * See section 25.2512-5(d)(4) for the procedure for obtaining special factors from the Internal Revenue Service in appropriate cases.

* * * * *

Par. 33. Section 25.2522(a)-2(a) is amended by revising the fifth sentence to read as set forth below, and by removing the fourth sentence.

SECTION 15.2522(a)-2 TRANSFERS NOT EXCLUSIVELY FOR CHARITABLE, ETC., PURPOSES IN THE CASE OF GIFTS MADE BEFORE AUGUST 1, 1969.

(a) * * * If the interest involved is such that its value is to be determined by a special computation, see section 25.2512-5(d)(4). * * *

* * * * *

Par. 34. Section 25.2522(c)-3, paragraph (d)(3) is revised to read as follows:

SECTION 25.2522(c)-3 TRANSFERS NOT EXCLUSIVELY FOR CHARITABLE, ETC., PURPOSES IN THE CASE OF GIFTS MADE AFTER JULY 31, 1969.

* * * * *

(d) * * *

(3) OTHER TRANSFERS. The present value of an interest not described in paragraph (d)(2) of this section is to be determined under section 25.2512-5.

* * * * *

Par. 35. Immediately following section 25.7101-1, an undesignated center heading and sections 25.7520-1 through 25.7520-4 are added to read as follows:

GENERAL ACTUARIAL VALUATIONS

SECTION 25.7520-1 VALUATION OF ANNUITIES, UNITRUST INTERESTS, INTERESTS FOR LIFE OR TERM OF YEARS, AND REMAINDER OR REVERSIONARY INTERESTS.

(a) GENERAL ACTUARIAL VALUATIONS. (1) Except as otherwise provided in this section and in section 25.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances), in the case of gifts made after April 30, 1989, the fair market value of annuities, interests for life or for a term of years (including unitrust interests), remainders, and reversions is their present value determined under this section. See section 20.2031-7(d) (and, for certain prior periods, section 20.2031-7A) of this chapter, Estate Tax Regulations, for the computation of the value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions, other than interests described in paragraphs (a)(2) and (a)(3) of this section.

(2) In the case of a gift to a beneficiary of a pooled income fund after April 30, 1989, see section 1.642(c)-6(e) (or, for certain prior periods, section 1.642(c)-6A) of this chapter (Income Tax Regulations) with respect to the valuation of the remainder interest.

(3) In the case of a gift to a beneficiary of a charitable remainder annuity trust after April 30, 1989, see section 1.664-2 of this chapter with respect to the valuation of the remainder interest. See section 1.664-4 (or, for certain prior periods, section 1.664-4A) of this chapter (Income Tax Regulations) with respect to the valuation of the remainder interest in property transferred to a charitable remainder unitrust.

(b) COMPONENTS OF VALUATION -- (1) INTEREST RATE COMPONENT -- (i) SECTION 7520 INTEREST RATE. The section 7520 interest rate is the rate of return, rounded to the nearest two-tenths of one percent, that is equal to 120 percent of the applicable Federal mid-term rate, compounded annually, for purposes of section 1274(d)(1), for the month in which the valuation date falls. In rounding the rate to the nearest two-tenths of a percent, any rate that is midway between one two-tenths of a percent and another is rounded up to the higher of those two rates. For example, if 120 percent of the applicable Federal mid-term rate is 10.30, the section 7520 interest rate component is 10.4. The section 7520 interest rate is published monthly by the Internal Revenue Service in the Internal Revenue Bulletin (See section 601.601(d)(2)(ii)(b) of this chapter).

(ii) VALUATION DATE. Generally, the valuation date is the date on which the gift is made. For gift tax purposes, the valuation date is the date on which the gift is complete under section 25.2511-2. For special rules in the case of charitable transfers, see section 25.7520-2.

(2) MORTALITY COMPONENT. The mortality component reflects the mortality data most recently available from the United States census. As new mortality data becomes available after each decennial census, the mortality component described in this section will be revised periodically and the revised mortality component tables will be published in the regulations at that time. For gifts with valuation dates after April 30, 1989, the mortality component table (Table 80CNSMT) is contained in section 20.2031-7(d) of this chapter (Estate Tax Regulations). See section 20.2031-7A of this chapter for mortality component tables applicable to gifts before May 1, 1989.

(c) TABLES. The present value on the valuation date of an annuity, life estate, term of years, remainder, or reversion is computed by using the section 7520 interest rate component that is described in paragraph (b)(1) of this section and the mortality component that is described in paragraph (b)(2) of this section. Actuarial factors for determining these present values are included in tables in these regulations and in publications by the Internal Revenue Service. If a special factor is required in order to value an interest, the Internal Revenue Service will furnish the factor upon a request for a ruling. The request for a ruling must be accompanied by a recitation of the facts, including the date of birth for each measuring life and copies of relevant instruments. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (see Rev. Proc. 94-1, 1994-1 I.R.B. 10, and subsequent updates, and sections 601.201 and 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee.

(1) REGULATION SECTIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 4.2 AND 14 PERCENT. Section 1.642(c)-6(e)(4) of this chapter contains Table S used for determining the present value of a single life remainder interest in a pooled income fund as defined in section 1.642(c)-5 of this chapter (Income Tax Regulations). Section 1.664-4(e)(6) of this chapter contains Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years), Table U(1) (actuarial factors for one life), and Table F (payout factors) used in determining the present value of a remainder interest in a charitable remainder unitrust as defined in section 1.664-3 of this chapter. Section 20.2031-7(d)(6) of this chapter (Estate Tax Regulations) contains Table S (actuarial factors for one life), Table B (actuarial factors used in determining the present value of an interest for a term of years), Table K (annuity end-of-interval adjustment factors), Table J (term certain annuity beginning-of-interval adjustment factors), and Table 80CNSMT (mortality components) used in determining the present value of annuities, life estates, remainders, and reversions. The regulations will be revised periodically to include new mortality component tables and new tables of factors.

(2) INTERNAL REVENUE SERVICE PUBLICATIONS CONTAINING TABLES WITH INTEREST RATES BETWEEN 2.2 AND 26 PERCENT. The following documents (except for Publication 1459) have been published for sale by the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8/89). This publication includes tables of valuation factors, as well as examples that show how to compute other valuation factors, for determining the present value of annuities, life estates, terms of years, remainders, and reversions, measured by one or two lives. These factors may also be used in the valuation of interests in a charitable remainder annuity trust as defined in section 1.664-2 of this chapter (Income Tax Regulations) and a pooled income fund as defined in section 1.642(c)-5.

(ii) Internal Revenue Service Publication 1458, "Actuarial Values, Beta Volume," (8/89). This publication includes term certain tables and tables of one and two life valuation factors for determining the present value of remainder interests in a charitable remainder unitrust as defined in section 1.664-3 of this chapter.

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89) is no longer available for purchase from the Superintendent of Documents. However, it may be obtained by requesting a copy from: CC:DOM:CORP:T:R (IRS Publication 1459), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. This publication includes tables for computing depreciation adjustment factors. See section 1.170A-12 of this chapter (Income Tax Regulations).

(d) EFFECTIVE DATE. This section is effective as of May 1, 1989.

SECTION 25.7520-2 VALUATION OF CHARITABLE INTERESTS -- (a) IN GENERAL -- (1) VALUATION. Except as otherwise provided in this section and in section 25.7520-3 (relating to exceptions to the use of prescribed tables under certain circumstances), the fair market value of annuities, interests for life or for a term for years, remainders, and reversions for which a gift tax charitable deduction is allowable is the present value of such interests determined under section 25.7520-1.

(2) PRIOR-MONTH ELECTION RULE. If any part of the property interest transferred qualifies for a gift tax charitable deduction under section 2522, the donor may elect to compute the present value of the interest transferred by use of the section 7520 interest rate for the month during which the gift is made or the section 7520 interest rate for either of the 2 months preceding the month during which the gift is made. Paragraph (b) of this section explains how a prior-month election is made. The interest rate for the month so elected is the applicable section 7520 interest rate. If the actuarial factor for either or both of the 2 months preceding the month during which the gift is made is based on a mortality experience that is different from the mortality experience at the date of the gift and if the donor elects to use the section 7520 rate for a prior month with the different mortality experience, the donor must use the actuarial factor derived from the mortality experience in effect during the month of the section 7520 rate elected. All actuarial computations relating to the gift must be made by applying the interest rate component and the mortality component of the month elected by the donor.

(3) GIFTS OF MORE THAN ONE INTEREST IN THE SAME PROPERTY. If a donor makes a gift of more than one interest in the same property at the same time, the donor must, for purposes of valuing the gifts, use the same interest rate and mortality components for the gift of each interest in the property. If the donor has made gifts of more than one interest in the same property at different times, the donor must determine the value of the gift by the use of the interest rate component and mortality component in effect during the month of that gift or, if applicable under paragraph (a)(2) of this section, either of the two months preceding the month of the gift.

(4) INFORMATION REQUIRED WITH TAX RETURN. The following information must be attached to the gift tax return (or to the amended return) if the donor claims a charitable deduction for the present value of a temporary or remainder interest in property --

(i) A complete description of the interest that is transferred, including a copy of the instrument of transfer;

(ii) The valuation date of the transfer;

(iii) The names and identification numbers of the beneficiaries of the transferred interest;

(iv) The names and birthdates of any measuring lives, a description of any relevant terminal illness condition of any measuring life, and (if applicable) an explanation of how any terminal illness condition was taken into account in valuing the interest; and

(v) A computation of the deduction showing the applicable section 7520 interest rate that is used to value the transferred interest.

(5) PLACE FOR FILING RETURNS. See section 6091 of the Internal Revenue Code and the regulations thereunder for the place for filing the return or other document required by this section.

(b) ELECTION OF INTEREST RATE COMPONENT -- (1) TIME FOR MAKING ELECTION. A taxpayer makes a prior-month election under paragraph (a)(2) of this section by attaching the information described in paragraph (b)(2) of this section to the donor's gift tax return or to an amended return for that year that is filed within 24 months after the later of the date the original return for the year was filed or the due date for filing the return.

(2) MANNER OF MAKING ELECTION. A statement that the prior-month election under section 7520(a) of the Internal Revenue Code is being made and that identifies the elected month must be attached to the gift tax return (or to the amended return).

(3) REVOCABILITY. The prior-month election may be revoked by filing an amended return within 24 months after the later of the date the original return of tax for that year was filed or the due date for filing the return. The revocation must be filed in the place referred to in paragraph (a)(5) of this section.

(c) EFFECTIVE DATES. Paragraph (a) of this section is effective as of May 1, 1989. Paragraph (b) of this section is effective for elections made after June 10, 1994.

SECTION 25.7520-3 LIMITATION ON THE APPLICATION OF SECTION 7520.

(a) INTERNAL REVENUE CODE SECTIONS TO WHICH SECTION 7520 DOES NOT APPLY. Section 7520 of the Internal Revenue Code does not apply for purposes of --

(1) Part I, subchapter D of subtitle A (section 401 et. seq.), relating to the income tax treatment of certain qualified plans. (However, section 7520 does apply to the estate and gift tax treatment of certain qualified plans and for purposes of determining excess accumulations under section 4980A);

(2) Sections 72 and 101(b), relating to the income taxation of life insurance, endowment, and annuity contracts, unless otherwise provided for in the regulations under sections 72, 101, and 1011 (see, particularly, sections 1.101-2(e)(1)(iii)(b)(2), and 1.1011-2(c), Example 8);

(3) Sections 83 and 451, unless otherwise provided for in the regulations under those sections;

(4) Section 457, relating to the valuation of deferred compensation, unless otherwise provided for in the regulations under section 457;

(5) Sections 3121(v) and 3306(r), relating to the valuation of deferred amounts, unless otherwise provided for in the regulations under those sections;

(6) Section 6058, relating to valuation statements evidencing compliance with qualified plan requirements, unless otherwise provided for in the regulations under section 6058;

(7) Section 7872, relating to income and gift taxation of interest-free loans and loans with below-market interest rates, unless otherwise provided for in the regulations under section 7872; or

(8) Section 2702(a)(2)(A), relating to the value of a nonqualified retained interest upon a transfer of an interest in trust to or for the benefit of a member of the transferor's family; and

(9) Any other section of the Internal Revenue Code to the extent provided by the Internal Revenue Service in revenue rulings or revenue procedures. (See sections 601.201 and 601.601 of this chapter).

(b) OTHER LIMITATIONS ON THE APPLICATION OF SECTION 7520. [RESERVED].

(c) EFFECTIVE DATE. Section 25.7520-3(a) is effective as of May 1, 1989.

SECTION 25.7520-4 TRANSITIONAL RULES.

(a) RELIANCE. If the valuation date is after April 30, 1989, and before June 10, 1994, a donor can rely on Notice 89-24, 1989-1 C.B. 660, or Notice 89-60, 1989-1 C.B. 700 (See section 601.601(d)(2)(ii)(b) of this chapter), in valuing the transferred interest.

(b) TRANSFERS IN 1989. If a donor transferred an interest in property by gift after December 31, 1988, and before May 1, 1989, retaining an interest in the same property and, after April 30, 1989, and before January 1, 1990, transferred the retained interest in the property, the donor may, at the donor's option, value the transfer of the retained interest under either section 25.2512-5(d) or section 25.2512-5A(d).

(c) EFFECTIVE DATE. This section is effective as of May 1, 1989.

PART 602 -- OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT

Par. 36. The authority citation for part 602 continues to read as follows:

Authority: 26 U.S.C. 7805.

Par. 37. Section 602.101 (c) is amended by adding entries in numerical order to the table to read as follows:

SECTION 602.101 OMB CONTROL NUMBERS.

* * * * *

(c) * * *

 _____________________________________________________________________

 

 CFR part or section where                              Current OMB

 

 identified and described                               Control No.

 

 _____________________________________________________________________

 

 * * * * *

 

 1.7520-1                                                1545-1343

 

 1.7520-2                                                1545-1343

 

 1.7520-3                                                1545-1343

 

 1.7520-4                                                1545-1343

 

 * * * * *

 

 20.7520-1                                               1545-1343

 

 20.7520-2                                               1545-1343

 

 20.7520-3                                               1545-1343

 

 20.7520-4                                               1545-1343

 

 * * * * *

 

 25.7520-1                                               1545-1343

 

 25.7520-2                                               1545-1343

 

 25.7520-3                                               1545-1343

 

 25.7520-4                                               1545-1343

 

 * * * * *

 

Margaret Milner Richardson

 

Commissioner of Internal Revenue

 

Approved: March 23, 1994

 

Leslie Samuels

 

Assistant Secretary of the Treasury
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