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Temporary and Proposed Regs Revising Actuarial Tables

APR. 30, 1999

T.D. 8819; 64 F.R. 23187-23229

DATED APR. 30, 1999
DOCUMENT ATTRIBUTES
Citations: T.D. 8819; 64 F.R. 23187-23229

 [4830-01-u]

 

 DEPARTMENT OF THE TREASURY

 

  Internal Revenue Service

 

 26 CFR Parts 1, 20, and 25

 

 [Treasury Decision 8819]

 

 RIN 1545-AX14

 

 

[1] AGENCY: Internal Revenue Service (IRS), Treasury.

[2] ACTION: Final and temporary regulations.

[3] SUMMARY: This document contains regulations relating to the use of actuarial tables in valuing annuities, interests for life or terms of years, and remainder or reversionary interests. These regulations are necessary because section 7520(c)(3) directs the Secretary to update the actuarial tables to reflect the most recent mortality experience available. These regulations will effect the valuation of inter vivos and testamentary transfers of interests dependent on one or more measuring lives. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject elsewhere in this issue of the Federal Register.

[4] DATES: These regulations are effective May 1, 1999.

[5] FOR FURTHER INFORMATION CONTACT: Concerning the regulations, William L. Blodgett, (202) 622-3090 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

[6] This document contains amendments to the regulations revising certain tables used for the valuation of partial interests in property under section 7520 of the Internal Revenue Code of 1986 (Code) to reflect the most recent mortality experience available.

In General

[7] Section 7520, effective for transfers for which the valuation date is after April 30, 1989, provides that the value of an annuity, an interest for life or a term of years, and a remainder or reversionary interest is to be determined under tables published by the Internal Revenue Service based on a discount rate (rounded to the nearest two-tenths of one percent) equal to 120 percent of the applicable Federal mid-term rate in effect under section 1274(d)(1) for the month in which the valuation date falls. Section 7520(c)(3) directed the Secretary to issue tables not later than December 31, 1989, utilizing the then most recent mortality experience. Thereafter, the Secretary is directed to revise the tables used in valuing interests dependent on mortality experience not less frequently than once each 10 years to take into account the most recent mortality experience available as of the time of the revision.

[8] These regulations incorporate revised Table S (Single Life Remainder Factors) and Table U(1) (Unitrust Single Life Remainder Factors) based on data compiled from the 1990 census as set forth in Life Table 90CM, and make conforming amendments to various sections to reflect the revised tables. The current tables are moved to sections containing actuarial material for historical reference. Table B, Table D, Tables F(4.2) through F(14.0), Table J, and Table K, which are not based on mortality experience, are not changed. Internal Revenue Service Publications 1457 "Actuarial Values, Book Aleph" (forthcoming 1999), 1458 "Actuarial Values, Book Beth" (forthcoming 1999), and 1459 "Actuarial Values, Book Gimel" (forthcoming 1999) will contain a complete set of actuarial tables that include factors not contained in the regulations (for example, annuity and life interest factors). Although not available on May 1, 1999, IRS anticipates these publications will be available by July 1, 1999. These publications will be available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402.

[9] The following chart summarizes the applicable interest rates and the citations to textual materials and tables for the various periods covered under the regulations:

                Cross Reference to Regulation Sections

 

 

      Valuation           Interest    Regulation

 

        Period              Rate        Section         Table

 

 ____________________________________________________________________

 

 Section 642:

 

 

   Valuation, in general        -   1.642(c)-6

 

 

      before 01/01/52           4%  1.642(c)-6A(a)

 

    01/01/52 - 12/31/70       3.5%  1.642(c)-6A(b)

 

    01/01/71 - 11/30/83         6%  1.642(c)-6A(c)

 

    12/01/83 - 04/30/89        10%  1.642(c)-6A(d)  Table G

 

    05/01/89 - 04/30/99   section   1.642(c)-6A(e)  Table S (5/1/89 -

 

                             7520                    4/30/99)

 

        after 04/30/99    section   1.642(c)-6T(e)  Table S (after

 

                             7520                    04/30/99)

 

 Section 664:

 

   Valuation, in general        -   1.664-4

 

 

     before 01/01/52            4%  1.664-4A(a)

 

   01/01/52 - 12/31/70        3.5%  1.664-4A(b)

 

   01/01/71 - 11/30/83          6%  1.664-4A(c)

 

   12/01/83 - 04/30/89         10%  1.664-4A(d)    Table E,  Table F(1)

 

   05/01/89 - 04/30/99    section   1.664-4A(e)    Table U(1) (5/1/89 -

 

                             7520                   4/30/99)

 

       after 04/30/99     section   1.664-4T(e)    Table U(1) (after

 

                             7520                   04/30/99)

 

                                    1.664-4(e)     Table D and

 

                                                   Tables F(4.2) -

 

                                                    F(14.0)

 

 

 Section 2031:

 

 

   Valuation, in general        -   20.2031-7

 

 

     before 01/01/52            4%  20.2031-7A(a)

 

   01/01/52 - 12/31/70        3.5%  20.2031-7A(b)

 

   01/01/71 - 11/30/83          6%  20.2031-7A(c)

 

   12/01/83 - 04/30/89         10%  20.2031-7A(d)  Table A, Table B,

 

                                                    Table LN

 

   05/01/89 - 04/30/99     section  20.2031-7A(e)  Table S (5/1/89 -

 

                              7520                  4/30/99)

 

                                                   Life Table 80CNSMT

 

      after 04/30/99       section  20.2031-7T(d)  Table S (after

 

                              7520                  04/30/99) and

 

                                                   Life Table 90CM

 

                                    20.2031-7(d)   Table B, Table J,

 

                                                    Table K,

 

 

 Section 2512:

 

 

   Valuation, in general        -   25.2512-5

 

 

     before 01/01/52            4%  25.2512-5A(a)

 

   01/01/52 - 12/31/70        3.5%  25.2512-5A(b)

 

   01/01/71 - 11/30/83          6%  25.2512-5A(c)

 

   12/01/83 - 04/30/89         10%  25.2512-5A(d)

 

   05/01/89 - 04/30/99     section  25.2512-5A(e)

 

                              7520

 

      after 04/30/99       section  25.2512-5T(d)

 

                              7520

 

 ______________________________________________________________________

 

 

Effective Dates

[10] These regulations are applicable in the case of annuities, interests for life or terms of years, and remainder or reversionary interests created after April 30, 1999.

Transitional Rules

[11] The regulations provide certain transitional rules intended to alleviate any adverse consequences resulting from the proposed regulatory change. For gift tax purposes, if the valuation date of a transfer is after April 30, 1999, but before July 1, 1999, the donor may determine the value of the gift (and/or any applicable charitable deduction) under tables based on either Life Table 80CNSMT or Table 90CM (at the donor's option). Similarly, for estate tax purposes, if the decedent dies after April 30, 1999, but before July 1, 1999, the value of any interest (and/or any applicable charitable deduction) may be determined under tables based on either Table 80CNSMT or Table 90CM, at the option of the decedent's executor. However, the section 7520 interest rate utilized is the appropriate rate for the month in which the valuation date occurs. In accordance with this transitional rule and those contained in sections 1.7520-2(a)(2), 20.7520-2(a)(2) and 25.7520-2(a)(2), in cases involving a charitable deduction, if the valuation date occurs after April 30, 1999, and before July 1, 1999, and the executor or donor elects under section 7520(a) to use the section 7520 interest rate for March 1999 or April 1999, then the mortality experience contained in 80CNSMT must be used. If the executor or donor uses the section 7520 interest rate for May 1999 or for June 1999, then the tables based on either Table 80CNSMT or Table 90CM may be used. However, if the valuation date occurs after June 30, 1999, the executor or donor must use the new mortality experience contained in Table 90CM even if a prior month interest rate election under section 7520(a) is made.

[12] In addition, for estate tax purposes, 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, 1999, and continued uninterrupted until the decedent's death, or the decedent died within 90 days of regaining competency after April 30, 1999.

Special Analysis

[13] 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) does not apply to these regulations, and because these regulations do not impose a collection of information requirement on small entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply. Therefore, a Regulatory Flexibility Analysis is not required. Pursuant to section 7805(f) of the Internal Revenue Code, these regulations will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business.

Drafting Information

[14] The principal author of these regulations is William L. Blodgett, Office of Assistant 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

[15] Income taxes, Reporting and recordkeeping requirements.

26 CFR Part 20

[16] Estate taxes, Reporting and recordkeeping requirements.

26 CFR Part 25

[17] Gift taxes, Reporting and recordkeeping requirements.

Adoption of Amendments to the Regulations

[18] Accordingly, 26 CFR parts 1, 20, and 25 are amended as follows:

PART 1--INCOME TAXES

Paragraph 1. The authority citation for part 1 is amended by adding entries in numerical order to read in part 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)-6T 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 1.664-4T also issued under 26 U.S.C. 664(a).

 

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

 

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

 

 

Par. 2. Section 1.170A-6 is amended by revising paragraph (c)(5), Example (2)(b) introductory text to read as follows:

Section 1.170A-6 Charitable contributions in trust.

* * * * *

(c) * * *

(5) * * *

Example 2. * * *

(b) The section 7520 rate at the time of the transfer was 6.0 percent. By reference to Table F(6.0) in section 1.664-4(e)(6), the adjusted payout rate is 4.717% (5% x 0.943396). The present value of the reversion is $6,473.75, computed by reference to Table D in section 1.664-4(e)(6), as follows:

* * * * *

Par. 3. Section 1.170A-12T is added to read as follows:

Section 1.170A-12T Valuation of a remainder interest in real property for contributions made after July 31, 1969 (temporary).

(a) through (b)(1) [Reserved] For further guidance see section 1.170A-12(a) through (b)(1).

(b)(2) Computation of depreciation factor after April 30, 1999. 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 20.2031-7T (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, 1999, special factors for determining the present value of a remainder interest following one life and an example describing the computation is contained in Internal Revenue Service Publication 1459, "Actuarial Values, Book Gimel," (1999). A copy of this publication is available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. 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]

 

 Where:

 

 n = the estimated number of years of useful life,

 

 i = the applicable interest rate under section 7520 of the Internal Revenue Code,

 

 v = 1 divided by the sum of 1 plus the applicable interest rate under section 7520 of the Internal Revenue Code,

 

 x = the age of the life tenant, and

 

 lx = number of persons living at age x as set forth in Table 90CM of

 

 section 20.2031-7T (or, for prior periods, the tables set forth

 

 under section 20.2031-7A) of this chapter.

 

 

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

Example. 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)). At the time of the gift, the interest rate prescribed under section 7520 is 8.4 percent. Based on an interest rate of 8.4 percent, the remainder factor for $1.00 prescribed in section 20.2031-7T(d) of this chapter for a person age 62 is 0.27925. The value of the nondepreciable remainder interest is $13,962.50 (0.27925 times $50,000). The value of the depreciable remainder interest is $16,148.80 (0.20186, computed under the formula described in paragraph (b)(2) of this section, times $80,000). Therefore, the value of the remainder interest is $30,111.30.

(c) through (e) [Reserved]. For further guidance see section 1.170A-12(c) through (e).

Par. 4. Section 1.642(c)-6 is amended as follows:

1. Revise the section heading.

2. Paragraph (d) is removed.

3. Paragraph (e) is redesignated as paragraph (e) of section 1.642(c)-6A.

4. New paragraphs (d) and (e) are added.

5. Paragraph (f) is revised.

The revisions and addition read as follows:

Section 1.642(c)-6 Valuation of a remainder interest in property transferred to a pooled income fund.

* * * * *

(d) and (e) [Reserved]. For further guidance, see section 1.642(c)-6T(d) and (e).

(f) Effective dates. This section applies after April 30, 1989, and before May 1, 1999.

Par. 5. Section 1.642(c)-6T is added to read as follows:

Section 1.642(c)-6T Valuation of a remainder interest in property transferred to a pooled income fund (temporary).

(a) through (c) [Reserved]. For further guidance, see section 1.642(c)-6(a) through (c).

(d) Valuation. The present value of the remainder interest in property transferred to a pooled income fund after April 30, 1999, 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, 1999, 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)

 

 04-30-89         05-01-99                 1.642(c)-6A(e)

 

 

(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, 1999--(1) In general. In the case of transfers to pooled income funds for which the valuation date is after April 30, 1999, 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)(6) 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.

(2) Transitional rules for valuation of transfers to pooled income funds. (i) For purposes of sections 2055, 2106, or 2624, if on May 1, 1999, the decedent was mentally incompetent so that the disposition of the property could not be changed, and the decedent died after April 30, 1999, 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, 1999, the present value of a remainder interest is determined as if the valuation date with respect to the decedent's gross estate is either before May 1, 1999, or after April 30, 1999, at the option of the decedent's executor.

(ii) For purposes of sections 170, 2055, 2106, 2522, or 2624, in the case of transfers to a pooled income fund for which the valuation date is after April 30, 1999, and before July 1, 1999, the present value of the remainder interest under this section is determined by use of the section 7520 interest rate for the month in which the valuation date occurs (See sections 1.7520-1(b) and 1.7520-2(a)(2)) and the appropriate actuarial tables under either paragraph (e)(6) of this section or section 1.642(c)-6A(e)(5), at the option of the donor or the decedent's executor, as the case may be.

(iii) For purposes of paragraphs (e)(2)(i) and (ii) of this section, where the donor or decedent's executor is given the option to use the appropriate actuarial tables under either paragraph (e)(6) of this section or section 1.642(c)-6A(e)(5), the donor or decedent's executor must use the same actuarial table with respect to each individual transaction and with respect to all transfers occurring on the valuation date (e.g., gift and income tax charitable deductions with respect to the same transfer must be determined based on the same tables, and all assets includible in the gross estate and/or estate tax deductions claimed must be valued based on the same tables).

(3) 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 lx that are set forth in Table 90CM in section 20.2031-7T(d)(7) of this chapter (Estate Tax Regulations) (See section 20.2031-7A of this chapter for certain prior periods); 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)(4) of this section for funds in existence less than 3 taxable years. For purposes of this paragraph (e)(3)(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.

(4) 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)(3)(ii) of this section.

(5) 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)(6) 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 (See section 1.642(c)-6A for certain prior periods). The tables in paragraph (e)(6) 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)(6) of this section is contained in Table S in Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). A copy of this publication is available for purchase 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 (e)(5) may be illustrated by the following example:

Example. A, who is 54 years and 8 months, transfers $100,000 to a pooled income fund, 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 .17449 and under 9.6 percent is .17001. The present value of the remainder interest is $17,292.00, computed as follows:

 Factor at 9.4 percent for age 55 .........  .17449

 

 Factor at 9.6 percent for age 55 .........  .17001

 

 Difference  ..........................................  .00448

 

 Interpolation adjustment:

 

 9.47% - 9.4%   =       x

 

 ___________         ______

 

 0.2%           .00448

 

 x    =    .00157

 

 Factor at 9.4 percent for age 55 .........  .17449

 

 Less: Interpolation adjustment ...........  .00157

 

 Interpolated factor ......................  .17292

 

 Present value of remainder interest:

 

 ($100,000  X  .17292) ............ $17,292.00

 

 

(6) Actuarial tables. In the case of transfers for which the valuation date is after April 30, 1999, 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 Table S:

 TABLE S

 

 BASED ON LIFE TABLE 90CM

 

 SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1999

 

 INTEREST RATE

 

 =====================================================================

 

 AGE     4.2%   4.4%   4.6%   4.8%   5.0%   5.2%   5.4%

 

 =====================================================================

 

 0   .06752 .06130 .05586 .05109 .04691 .04322 .03998

 

 1   .06137 .05495 .04932 .04438 .04003 .03620 .03283

 

 2   .06325 .05667 .05088 .04580 .04132 .03737 .03388

 

 3   .06545 .05869 .05275 .04752 .04291 .03883 .03523

 

 4   .06784 .06092 .05482 .04944 .04469 .04048 .03676

 

 5   .07040 .06331 .05705 .05152 .04662 .04229 .03845

 

 6   .07310 .06583 .05941 .05372 .04869 .04422 .04025

 

 7   .07594 .06849 .06191 .05607 .05089 .04628 .04219

 

 8   .07891 .07129 .06453 .05853 .05321 .04846 .04424

 

 9   .08203 .07423 .06731 .06115 .05567 .05079 .04643

 

 10   .08532 .07734 .07024 .06392 .05829 .05326 .04877

 

 11   .08875 .08059 .07331 .06683 .06104 .05587 .05124

 

 12   .09233 .08398 .07653 .06989 .06394 .05862 .05385

 

 13   .09601 .08748 .07985 .07304 .06693 .06146 .05655

 

 14   .09974 .09102 .08322 .07624 .06997 .06435 .05929

 

 15   .10350 .09460 .08661 .07946 .07303 .06725 .06204

 

 16   .10728 .09818 .09001 .08268 .07608 .07014 .06479

 

 17   .11108 .10179 .09344 .08592 .07916 .07306 .06755

 

 18   .11494 .10545 .09691 .08921 .08227 .07601 .07034

 

 19   .11889 .10921 .10047 .09259 .08548 .07904 .07322

 

 20   .12298 .11310 .10417 .09610 .08881 .08220 .07622

 

 21   .12722 .11713 .10801 .09976 .09228 .08550 .07935

 

 22   .13159 .12130 .11199 .10354 .09588 .08893 .08260

 

 23   .13613 .12563 .11612 .10748 .09964 .09250 .08601

 

 24   .14084 .13014 .12043 .11160 .10357 .09625 .08958

 

 25   .14574 .13484 .12493 .11591 .10768 .10018 .09334

 

 26   .15084 .13974 .12963 .12041 .11199 .10431 .09728

 

 27   .15615 .14485 .13454 .12513 .11652 .10865 .10144

 

 28   .16166 .15016 .13965 .13004 .12124 .11319 .10580

 

 29   .16737 .15567 .14497 .13516 .12617 .11792 .11035

 

 30   .17328 .16138 .15048 .14047 .13129 .12286 .11510

 

 31   .17938 .16728 .15618 .14599 .13661 .12799 .12004

 

 32   .18568 .17339 .16210 .15171 .14214 .13333 .12520

 

 33   .19220 .17972 .16824 .15766 .14790 .13889 .13058

 

 34   .19894 .18627 .17460 .16383 .15388 .14468 .13618

 

 35   .20592 .19307 .18121 .17025 .16011 .15073 .14204

 

 36   .21312 .20010 .18805 .17691 .16658 .15701 .14814

 

 37   .22057 .20737 .19514 .18382 .17331 .16356 .15450

 

 38   .22827 .21490 .20251 .19100 .18031 .17038 .16113

 

 39   .23623 .22270 .21013 .19845 .18759 .17747 .16805

 

 40   .24446 .23078 .21805 .20620 .19516 .18487 .17527

 

 41   .25298 .23915 .22626 .21425 .20305 .19259 .18282

 

 42   .26178 .24782 .23478 .22262 .21125 .20062 .19069

 

 43   .27087 .25678 .24360 .23129 .21977 .20898 .19888

 

 44   .28025 .26603 .25273 .24027 .22860 .21766 .20740

 

 45   .28987 .27555 .26212 .24953 .23772 .22664 .21622

 

 46   .29976 .28533 .27179 .25908 .24714 .23591 .22536

 

 47   .30987 .29535 .28171 .26889 .25682 .24546 .23476

 

 48   .32023 .30563 .29190 .27897 .26678 .25530 .24447

 

 49   .33082 .31615 .30234 .28931 .27702 .26543 .25447

 

 50   .34166 .32694 .31306 .29995 .28756 .27586 .26479

 

 51   .35274 .33798 .32404 .31085 .29838 .28658 .27541

 

 52   .36402 .34924 .33525 .32200 .30946 .29757 .28630

 

 53   .37550 .36070 .34668 .33339 .32078 .30882 .29746

 

 54   .38717 .37237 .35833 .34500 .33234 .32031 .30888

 

 55   .39903 .38424 .37019 .35683 .34413 .33205 .32056

 

 56   .41108 .39631 .38227 .36890 .35617 .34405 .33250

 

 57   .42330 .40857 .39455 .38118 .36844 .35629 .34469

 

 58   .43566 .42098 .40699 .39364 .38089 .36873 .35710

 

 59   .44811 .43351 .41956 .40623 .39350 .38133 .36968

 

 60   .46066 .44613 .43224 .41896 .40624 .39408 .38243

 

 61   .47330 .45887 .44505 .43182 .41914 .40699 .39535

 

 62   .48608 .47175 .45802 .44485 .43223 .42011 .40848

 

 63   .49898 .48478 .47115 .45807 .44550 .43343 .42184

 

 64   .51200 .49793 .48442 .47143 .45895 .44694 .43539

 

 65   .52512 .51121 .49782 .48495 .47255 .46062 .44912

 

 66   .53835 .52461 .51137 .49862 .48634 .47449 .46307

 

 67   .55174 .53818 .52511 .51250 .50034 .48860 .47727

 

 68   .56524 .55188 .53899 .52654 .51452 .50291 .49168

 

 69   .57882 .56568 .55299 .54071 .52885 .51737 .50627

 

 70   .59242 .57951 .56703 .55495 .54325 .53193 .52096

 

 71   .60598 .59332 .58106 .56918 .55767 .54651 .53569

 

 72   .61948 .60707 .59504 .58338 .57206 .56108 .55043

 

 73   .63287 .62073 .60895 .59751 .58640 .57561 .56513

 

 74   .64621 .63435 .62282 .61162 .60073 .59015 .57985

 

 75   .65953 .64796 .63671 .62575 .61510 .60473 .59463

 

 76   .67287 .66160 .65063 .63995 .62954 .61940 .60952

 

 77   .68622 .67526 .66459 .65419 .64404 .63415 .62450

 

 78   .69954 .68892 .67856 .66845 .65858 .64895 .63955

 

 79   .71278 .70250 .69246 .68265 .67308 .66372 .65457

 

 80   .72581 .71588 .70618 .69668 .68740 .67833 .66945

 

 81   .73857 .72899 .71962 .71045 .70147 .69268 .68408

 

 82   .75101 .74178 .73274 .72389 .71522 .70672 .69840

 

 83   .76311 .75423 .74553 .73700 .72864 .72044 .71240

 

 84   .77497 .76645 .75809 .74988 .74183 .73393 .72618

 

 85   .78665 .77848 .77047 .76260 .75487 .74728 .73982

 

 86   .79805 .79025 .78258 .77504 .76764 .76036 .75320

 

 87   .80904 .80159 .79427 .78706 .77998 .77301 .76615

 

 88   .81962 .81251 .80552 .79865 .79188 .78521 .77865

 

 89   .82978 .82302 .81636 .80980 .80335 .79699 .79072

 

 90   .83952 .83309 .82676 .82052 .81437 .80831 .80234

 

 91   .84870 .84260 .83658 .83064 .82479 .81902 .81332

 

 92   .85716 .85136 .84563 .83998 .83441 .82891 .82348

 

 93   .86494 .85942 .85396 .84858 .84326 .83801 .83283

 

 94   .87216 .86690 .86170 .85657 .85149 .84648 .84153

 

 95   .87898 .87397 .86902 .86412 .85928 .85450 .84977

 

 96   .88537 .88060 .87587 .87121 .86659 .86203 .85751

 

 97   .89127 .88672 .88221 .87775 .87335 .86898 .86467

 

 98   .89680 .89245 .88815 .88389 .87968 .87551 .87138

 

 99   .90217 .89803 .89393 .88987 .88585 .88187 .87793

 

 100   .90738 .90344 .89953 .89567 .89183 .88804 .88428

 

 101   .91250 .90876 .90504 .90137 .89772 .89412 .89054

 

 102   .91751 .91396 .91045 .90696 .90350 .90007 .89668

 

 103   .92247 .91912 .91579 .91249 .90922 .90598 .90276

 

 104   .92775 .92460 .92148 .91839 .91532 .91227 .90924

 

 105   .93290 .92996 .92704 .92415 .92127 .91841 .91558

 

 106   .93948 .93680 .93415 .93151 .92889 .92628 .92370

 

 107   .94739 .94504 .94271 .94039 .93808 .93579 .93351

 

 108   .95950 .95767 .95585 .95404 .95224 .95045 .94867

 

 109   .97985 .97893 .97801 .97710 .97619 .97529 .97438

 

 ____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE     5.6%   5.8%   6.0%

 

 =====================================================================

 

 0   .03711 .03458 .03233

 

 1   .02985 .02721 .02487

 

 2   .03079 .02806 .02563

 

 3   .03203 .02920 .02668

 

 4   .03346 .03052 .02791

 

 5   .03503 .03199 .02928

 

 6   .03672 .03357 .03076

 

 7   .03854 .03528 .03236

 

 8   .04046 .03709 .03407

 

 9   .04253 .03904 .03592

 

 10   .04474 .04114 .03790

 

 11   .04709 .04336 .04002

 

 12   .04957 .04572 .04226

 

 13   .05214 .04816 .04458

 

 14   .05474 .05064 .04694

 

 15   .05735 .05312 .04930

 

 16   .05996 .05559 .05164

 

 17   .06257 .05807 .05399

 

 18   .06521 .06057 .05636

 

 19   .06794 .06315 .05880

 

 20   .07078 .06584 .06135

 

 21   .07375 .06866 .06403

 

 22   .07685 .07160 .06682

 

 23   .08009 .07468 .06975

 

 24   .08349 .07793 .07284

 

 25   .08708 .08135 .07611

 

 26   .09085 .08496 .07956

 

 27   .09484 .08878 .08322

 

 28   .09901 .09279 .08706

 

 29   .10339 .09699 .09109

 

 30   .10796 .10138 .09532

 

 31   .11272 .10597 .09974

 

 32   .11769 .11076 .10435

 

 33   .12289 .11578 .10920

 

 34   .12831 .12102 .11426

 

 35   .13399 .12652 .11958

 

 36   .13990 .13225 .12514

 

 37   .14608 .13825 .13096

 

 38   .15253 .14452 .13705

 

 39   .15927 .15108 .14344

 

 40   .16631 .15795 .15013

 

 41   .17368 .16514 .15715

 

 42   .18138 .17267 .16450

 

 43   .18941 .18053 .17220

 

 44   .19777 .18873 .18023

 

 45   .20644 .19724 .18858

 

 46   .21542 .20606 .19725

 

 47   .22468 .21518 .20621

 

 48   .23425 .22460 .21549

 

 49   .24412 .23434 .22509

 

 50   .25432 .24441 .23502

 

 51   .26482 .25479 .24528

 

 52   .27561 .26547 .25584

 

 53   .28667 .27643 .26669

 

 54   .29801 .28766 .27782

 

 55   .30961 .29918 .28925

 

 56   .32149 .31099 .30097

 

 57   .33363 .32306 .31297

 

 58   .34600 .33538 .32522

 

 59   .35855 .34789 .33768

 

 60   .37127 .36058 .35033

 

 61   .38418 .37347 .36318

 

 62   .39732 .38660 .37629

 

 63   .41069 .39997 .38966

 

 64   .42427 .41357 .40326

 

 65   .43805 .42738 .41709

 

 66   .45206 .44143 .43118

 

 67   .46633 .45576 .44556

 

 68   .48083 .47034 .46020

 

 69   .49552 .48513 .47506

 

 70   .51034 .50004 .49007

 

 71   .52520 .51503 .50516

 

 72   .54009 .53004 .52029

 

 73   .55495 .54505 .53543

 

 74   .56984 .56009 .55061

 

 75   .58480 .57523 .56591

 

 76   .59989 .59050 .58135

 

 77   .61509 .60590 .59694

 

 78   .63036 .62140 .61264

 

 79   .64563 .63690 .62836

 

 80   .66077 .65227 .64396

 

 81   .67566 .66741 .65933

 

 82   .69024 .68225 .67441

 

 83   .70451 .69678 .68919

 

 84   .71857 .71110 .70377

 

 85   .73250 .72530 .71823

 

 86   .74617 .73925 .73245

 

 87   .75940 .75277 .74624

 

 88   .77220 .76584 .75958

 

 89   .78455 .77847 .77248

 

 90   .79645 .79064 .78492

 

 91   .80771 .80217 .79671

 

 92   .81812 .81283 .80761

 

 93   .82771 .82266 .81767

 

 94   .83664 .83181 .82704

 

 95   .84510 .84049 .83592

 

 96   .85305 .84864 .84427

 

 97   .86040 .85618 .85200

 

 98   .86730 .86326 .85926

 

 99   .87402 .87016 .86633

 

 100   .88056 .87687 .87322

 

 101   .88699 .88348 .88000

 

 102   .89331 .88997 .88666

 

 103   .89957 .89640 .89326

 

 104   .90624 .90326 .90031

 

 105   .91276 .90997 .90719

 

 106   .92113 .91857 .91604

 

 107   .93124 .92899 .92675

 

 108   .94689 .94512 .94336

 

 109   .97348 .97259 .97170

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 ======================================================================

 

 AGE     6.2%   6.4%   6.6%   6.8%   7.0%   7.2%   7.4%

 

 ======================================================================

 

 0   .03034 .02857 .02700 .02559 .02433 .02321 .02220

 

 1   .02279 .02094 .01929 .01782 .01650 .01533 .01427

 

 2   .02347 .02155 .01983 .01829 .01692 .01569 .01458

 

 3   .02444 .02243 .02065 .01905 .01761 .01632 .01516

 

 4   .02558 .02349 .02163 .01996 .01846 .01712 .01590

 

 5   .02686 .02469 .02275 .02101 .01945 .01804 .01677

 

 6   .02825 .02600 .02398 .02217 .02053 .01906 .01773

 

 7   .02976 .02742 .02532 .02343 .02172 .02019 .01880

 

 8   .03137 .02894 .02675 .02479 .02301 .02140 .01995

 

 9   .03311 .03059 .02832 .02627 .02442 .02274 .02122

 

 10   .03499 .03237 .03001 .02788 .02595 .02420 .02262

 

 11   .03700 .03428 .03183 .02961 .02760 .02578 .02413

 

 12   .03913 .03632 .03377 .03146 .02937 .02748 .02575

 

 13   .04135 .03843 .03579 .03339 .03122 .02924 .02744

 

 14   .04359 .04057 .03783 .03534 .03308 .03102 .02915

 

 15   .04584 .04270 .03986 .03728 .03493 .03279 .03083

 

 16   .04806 .04482 .04187 .03919 .03674 .03452 .03248

 

 17   .05029 .04692 .04387 .04108 .03855 .03623 .03411

 

 18   .05253 .04905 .04588 .04299 .04036 .03795 .03574

 

 19   .05484 .05124 .04796 .04496 .04222 .03972 .03742

 

 20   .05726 .05354 .05013 .04702 .04418 .04158 .03919

 

 21   .05980 .05595 .05242 .04920 .04625 .04354 .04105

 

 22   .06246 .05847 .05482 .05147 .04841 .04559 .04301

 

 23   .06524 .06112 .05734 .05387 .05069 .04777 .04508

 

 24   .06819 .06392 .06001 .05642 .05312 .05008 .04728

 

 25   .07131 .06690 .06285 .05913 .05570 .05255 .04964

 

 26   .07460 .07005 .06586 .06200 .05845 .05518 .05215

 

 27   .07810 .07340 .06907 .06508 .06140 .05800 .05485

 

 28   .08179 .07693 .07246 .06833 .06451 .06098 .05772

 

 29   .08566 .08065 .07603 .07176 .06780 .06414 .06075

 

 30   .08973 .08456 .07978 .07536 .07127 .06748 .06396

 

 31   .09398 .08865 .08372 .07915 .07491 .07098 .06733

 

 32   .09843 .09294 .08785 .08313 .07875 .07468 .07089

 

 33   .10310 .09745 .09220 .08732 .08279 .07858 .07466

 

 34   .10799 .10217 .09676 .09173 .08705 .08269 .07862

 

 35   .11314 .10715 .10157 .09638 .09155 .08704 .08283

 

 36   .11852 .11236 .10662 .10127 .09628 .09162 .08726

 

 37   .12416 .11783 .11193 .10641 .10126 .09645 .09194

 

 38   .13009 .12359 .11751 .11183 .10652 .10155 .09689

 

 39   .13629 .12962 .12338 .11753 .11206 .10693 .10212

 

 40   .14281 .13597 .12955 .12355 .11791 .11262 .10766

 

 41   .14966 .14264 .13606 .12989 .12409 .11864 .11352

 

 42   .15685 .14966 .14291 .13657 .13061 .12500 .11972

 

 43   .16437 .15702 .15010 .14360 .13747 .13171 .12627

 

 44   .17224 .16472 .15764 .15098 .14469 .13876 .13317

 

 45   .18042 .17274 .16550 .15867 .15223 .14615 .14040

 

 46   .18893 .18110 .17370 .16671 .16011 .15387 .14796

 

 47   .19775 .18975 .18220 .17505 .16830 .16190 .15584

 

 48   .20688 .19873 .19102 .18373 .17682 .17027 .16406

 

 49   .21633 .20804 .20018 .19274 .18568 .17898 .17262

 

 50   .22612 .21769 .20969 .20210 .19490 .18805 .18155

 

 51   .23625 .22769 .21955 .21182 .20448 .19749 .19084

 

 52   .24669 .23799 .22973 .22186 .21438 .20726 .20047

 

 53   .25742 .24861 .24022 .23222 .22461 .21735 .21043

 

 54   .26845 .25952 .25101 .24290 .23516 .22777 .22072

 

 55   .27978 .27074 .26212 .25389 .24604 .23853 .23136

 

 56   .29140 .28227 .27355 .26522 .25725 .24963 .24233

 

 57   .30333 .29411 .28529 .27686 .26879 .26106 .25365

 

 58   .31551 .30621 .29731 .28878 .28061 .27278 .26528

 

 59   .32790 .31854 .30956 .30095 .29269 .28477 .27716

 

 60   .34050 .33107 .32202 .31334 .30500 .29699 .28929

 

 61   .35331 .34384 .33473 .32598 .31757 .30948 .30170

 

 62   .36639 .35688 .34772 .33892 .33044 .32229 .31443

 

 63   .37974 .37020 .36101 .35216 .34363 .33542 .32750

 

 64   .39334 .38378 .37456 .36568 .35711 .34884 .34087

 

 65   .40718 .39761 .38838 .37947 .37087 .36257 .35455

 

 66   .42128 .41172 .40249 .39357 .38496 .37663 .36858

 

 67   .43569 .42616 .41694 .40803 .39941 .39107 .38299

 

 68   .45038 .44089 .43170 .42281 .41419 .40585 .39777

 

 69   .46531 .45587 .44672 .43786 .42927 .42094 .41286

 

 70   .48040 .47103 .46194 .45312 .44456 .43626 .42820

 

 71   .49558 .48629 .47727 .46851 .46000 .45174 .44371

 

 72   .51082 .50162 .49268 .48399 .47554 .46733 .45934

 

 73   .52607 .51697 .50813 .49952 .49114 .48299 .47506

 

 74   .54139 .53241 .52367 .51515 .50686 .49879 .49092

 

 75   .55683 .54798 .53936 .53095 .52276 .51477 .50698

 

 76   .57243 .56373 .55524 .54696 .53888 .53100 .52330

 

 77   .58819 .57965 .57132 .56318 .55523 .54747 .53988

 

 78   .60408 .59572 .58755 .57957 .57177 .56414 .55668

 

 79   .62001 .61184 .60385 .59604 .58840 .58092 .57360

 

 80   .63582 .62786 .62007 .61244 .60497 .59765 .59048

 

 81   .65142 .64367 .63608 .62864 .62135 .61421 .60721

 

 82   .66673 .65920 .65182 .64458 .63748 .63052 .62368

 

 83   .68175 .67444 .66728 .66024 .65334 .64656 .63991

 

 84   .69657 .68950 .68256 .67574 .66904 .66246 .65599

 

 85   .71128 .70446 .69775 .69116 .68467 .67830 .67204

 

 86   .72576 .71919 .71272 .70636 .70010 .69394 .68789

 

 87   .73981 .73349 .72726 .72114 .71511 .70917 .70333

 

 88   .75342 .74735 .74137 .73548 .72968 .72396 .71833

 

 89   .76658 .76076 .75503 .74938 .74381 .73832 .73290

 

 90   .77928 .77371 .76823 .76281 .75748 .75221 .74702

 

 91   .79131 .78600 .78075 .77557 .77046 .76542 .76044

 

 92   .80246 .79737 .79235 .78740 .78250 .77767 .77290

 

 93   .81274 .80788 .80307 .79832 .79363 .78899 .78441

 

 94   .82232 .81766 .81306 .80850 .80401 .79956 .79517

 

 95   .83141 .82695 .82254 .81818 .81387 .80961 .80539

 

 96   .83996 .83569 .83147 .82729 .82316 .81907 .81503

 

 97   .84787 .84378 .83973 .83573 .83176 .82784 .82396

 

 98   .85530 .85138 .84750 .84366 .83985 .83609 .83236

 

 99   .86255 .85880 .85508 .85140 .84776 .84415 .84057

 

 100   .86960 .86601 .86246 .85894 .85546 .85200 .84858

 

 101   .87655 .87313 .86974 .86638 .86305 .85975 .85648

 

 102   .88338 .88012 .87689 .87369 .87052 .86738 .86426

 

 103   .89015 .88706 .88399 .88095 .87793 .87494 .87197

 

 104   .89737 .89446 .89157 .88871 .88586 .88304 .88024

 

 105   .90443 .90170 .89898 .89628 .89360 .89094 .88830

 

 106   .91351 .91101 .90852 .90605 .90359 .90115 .89873

 

 107   .92452 .92230 .92010 .91791 .91573 .91356 .91141

 

 108   .94161 .93987 .93814 .93641 .93469 .93298 .93128

 

 109   .97081 .96992 .96904 .96816 .96729 .96642 .96555

 

 _____________________________________________________________________

 

 [table continued]

 

 INTEREST RATE

 

 ======================================================================

 

 AGE     7.6%   7.8%   8.0%

 

 ======================================================================

 

 0   .02129 .02047 .01973

 

 1   .01331 .01246 .01168

 

 2   .01358 .01268 .01187

 

 3   .01412 .01317 .01232

 

 4   .01481 .01382 .01292

 

 5   .01562 .01458 .01364

 

 6   .01653 .01544 .01445

 

 7   .01754 .01640 .01536

 

 8   .01864 .01744 .01635

 

 9   .01985 .01859 .01745

 

 10   .02118 .01987 .01867

 

 11   .02262 .02125 .02000

 

 12   .02418 .02275 .02144

 

 13   .02580 .02431 .02294

 

 14   .02744 .02587 .02444

 

 15   .02905 .02742 .02593

 

 16   .03063 .02892 .02736

 

 17   .03218 .03040 .02877

 

 18   .03373 .03187 .03017

 

 19   .03532 .03339 .03161

 

 20   .03700 .03498 .03313

 

 21   .03877 .03667 .03473

 

 22   .04063 .03844 .03642

 

 23   .04260 .04032 .03821

 

 24   .04470 .04232 .04012

 

 25   .04695 .04447 .04218

 

 26   .04936 .04677 .04438

 

 27   .05195 .04925 .04676

 

 28   .05469 .05189 .04929

 

 29   .05761 .05469 .05198

 

 30   .06069 .05766 .05483

 

 31   .06394 .06078 .05785

 

 32   .06737 .06409 .06103

 

 33   .07100 .06759 .06441

 

 34   .07483 .07129 .06798

 

 35   .07890 .07522 .07179

 

 36   .08319 .07938 .07581

 

 37   .08772 .08377 .08006

 

 38   .09253 .08843 .08459

 

 39   .09761 .09337 .08938

 

 40   .10299 .09860 .09447

 

 41   .10870 .10417 .09989

 

 42   .11475 .11006 .10564

 

 43   .12115 .11631 .11174

 

 44   .12789 .12290 .11819

 

 45   .13496 .12982 .12496

 

 46   .14238 .13708 .13207

 

 47   .15010 .14466 .13950

 

 48   .15817 .15258 .14727

 

 49   .16658 .16084 .15539

 

 50   .17536 .16948 .16388

 

 51   .18452 .17849 .17275

 

 52   .19400 .18784 .18196

 

 53   .20383 .19753 .19151

 

 54   .21399 .20756 .20140

 

 55   .22450 .21793 .21166

 

 56   .23535 .22867 .22227

 

 57   .24656 .23976 .23324

 

 58   .25807 .25116 .24453

 

 59   .26986 .26284 .25610

 

 60   .28190 .27478 .26794

 

 61   .29422 .28701 .28007

 

 62   .30687 .29958 .29255

 

 63   .31986 .31250 .30539

 

 64   .33317 .32574 .31857

 

 65   .34681 .33932 .33208

 

 66   .36079 .35326 .34597

 

 67   .37518 .36761 .36028

 

 68   .38994 .38235 .37499

 

 69   .40503 .39743 .39006

 

 70   .42038 .41278 .40540

 

 71   .43591 .42832 .42095

 

 72   .45157 .44401 .43666

 

 73   .46733 .45981 .45249

 

 74   .48325 .47578 .46849

 

 75   .49938 .49197 .48474

 

 76   .51579 .50846 .50130

 

 77   .53247 .52523 .51815

 

 78   .54939 .54225 .53527

 

 79   .56644 .55943 .55256

 

 80   .58347 .57659 .56985

 

 81   .60034 .59361 .58701

 

 82   .61698 .61041 .60395

 

 83   .63338 .62696 .62066

 

 84   .64964 .64340 .63727

 

 85   .66587 .65982 .65386

 

 86   .68193 .67606 .67029

 

 87   .69757 .69190 .68632

 

 88   .71279 .70732 .70194

 

 89   .72757 .72231 .71712

 

 90   .74190 .73684 .73186

 

 91   .75553 .75068 .74589

 

 92   .76818 .76353 .75893

 

 93   .77989 .77542 .77100

 

 94   .79082 .78653 .78228

 

 95   .80122 .79710 .79302

 

 96   .81103 .80707 .80315

 

 97   .82012 .81632 .81255

 

 98   .82867 .82502 .82140

 

 99   .83703 .83353 .83005

 

 100   .84519 .84183 .83849

 

 101   .85324 .85003 .84684

 

 102   .86116 .85809 .85505

 

 103   .86903 .86611 .86321

 

 104   .87745 .87469 .87195

 

 105   .88568 .88307 .88049

 

 106   .89632 .89392 .89154

 

 107   .90927 .90714 .90502

 

 108   .92958 .92790 .92622

 

 109   .96468 .96382 .96296

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE     8.2%   8.4%   8.6%   8.8%   9.0%   9.2%   9.4%

 

 =====================================================================

 

 0   .01906 .01845 .01790 .01740 .01694 .01652 .01613

 

 1   .01098 .01034 .00977 .00924 .00876 .00833 .00793

 

 2   .01113 .01046 .00986 .00930 .00880 .00834 .00791

 

 3   .01155 .01084 .01020 .00962 .00909 .00860 .00816

 

 4   .01211 .01137 .01069 .01008 .00952 .00900 .00853

 

 5   .01279 .01201 .01130 .01065 .01006 .00952 .00902

 

 6   .01356 .01274 .01199 .01131 .01068 .01011 .00959

 

 7   .01442 .01356 .01277 .01205 .01140 .01079 .01023

 

 8   .01536 .01446 .01363 .01287 .01218 .01154 .01096

 

 9   .01641 .01546 .01460 .01380 .01307 .01240 .01178

 

 10   .01758 .01659 .01567 .01484 .01407 .01336 .01270

 

 11   .01886 .01781 .01686 .01598 .01517 .01442 .01373

 

 12   .02024 .01915 .01814 .01721 .01636 .01558 .01485

 

 13   .02168 .02054 .01948 .01851 .01762 .01679 .01603

 

 14   .02313 .02193 .02083 .01981 .01887 .01801 .01721

 

 15   .02456 .02330 .02214 .02107 .02009 .01918 .01834

 

 16   .02593 .02462 .02340 .02229 .02126 .02030 .01942

 

 17   .02728 .02590 .02463 .02346 .02238 .02138 .02046

 

 18   .02861 .02717 .02584 .02462 .02348 .02243 .02146

 

 19   .02998 .02847 .02708 .02580 .02461 .02351 .02249

 

 20   .03142 .02984 .02839 .02704 .02580 .02465 .02357

 

 21   .03295 .03130 .02978 .02837 .02706 .02585 .02473

 

 22   .03455 .03283 .03124 .02976 .02839 .02712 .02594

 

 23   .03626 .03446 .03279 .03124 .02981 .02847 .02723

 

 24   .03809 .03620 .03446 .03283 .03133 .02993 .02863

 

 25   .04005 .03808 .03625 .03456 .03298 .03151 .03014

 

 26   .04216 .04010 .03819 .03641 .03476 .03322 .03178

 

 27   .04444 .04229 .04029 .03843 .03670 .03508 .03357

 

 28   .04687 .04463 .04254 .04059 .03877 .03708 .03550

 

 29   .04946 .04712 .04493 .04289 .04099 .03922 .03756

 

 30   .05221 .04976 .04748 .04534 .04335 .04149 .03975

 

 31   .05511 .05255 .05017 .04794 .04585 .04390 .04208

 

 32   .05818 .05551 .05302 .05069 .04851 .04647 .04455

 

 33   .06144 .05866 .05606 .05363 .05135 .04921 .04720

 

 34   .06489 .06200 .05928 .05674 .05436 .05212 .05002

 

 35   .06857 .06555 .06273 .06007 .05758 .05524 .05304

 

 36   .07246 .06932 .06638 .06361 .06101 .05856 .05626

 

 37   .07659 .07332 .07025 .06737 .06466 .06210 .05969

 

 38   .08098 .07758 .07439 .07138 .06855 .06588 .06336

 

 39   .08563 .08210 .07878 .07565 .07270 .06992 .06729

 

 40   .09059 .08692 .08347 .08021 .07714 .07423 .07149

 

 41   .09586 .09206 .08848 .08509 .08189 .07886 .07600

 

 42   .10147 .09753 .09381 .09029 .08696 .08381 .08083

 

 43   .10742 .10334 .09948 .09583 .09237 .08909 .08598

 

 44   .11373 .10950 .10551 .10172 .09813 .09472 .09148

 

 45   .12035 .11599 .11185 .10792 .10420 .10066 .09730

 

 46   .12732 .12281 .11853 .11447 .11061 .10694 .10345

 

 47   .13460 .12995 .12553 .12133 .11733 .11353 .10991

 

 48   .14223 .13743 .13287 .12853 .12439 .12046 .11671

 

 49   .15020 .14526 .14056 .13608 .13181 .12774 .12385

 

 50   .15855 .15347 .14862 .14401 .13960 .13540 .13138

 

 51   .16727 .16205 .15707 .15232 .14777 .14344 .13929

 

 52   .17634 .17098 .16587 .16097 .15630 .15183 .14755

 

 53   .18576 .18027 .17501 .16999 .16518 .16057 .15616

 

 54   .19552 .18990 .18451 .17935 .17441 .16968 .16514

 

 55   .20564 .19989 .19437 .18908 .18402 .17915 .17449

 

 56   .21613 .21025 .20461 .19919 .19400 .18901 .18422

 

 57   .22698 .22098 .21522 .20968 .20436 .19925 .19434

 

 58   .23816 .23204 .22616 .22051 .21507 .20984 .20481

 

 59   .24962 .24339 .23740 .23163 .22608 .22073 .21558

 

 60   .26136 .25502 .24892 .24304 .23738 .23192 .22666

 

 61   .27339 .26695 .26075 .25477 .24900 .24343 .23806

 

 62   .28578 .27925 .27295 .26687 .26100 .25533 .24985

 

 63   .29854 .29192 .28553 .27935 .27339 .26762 .26205

 

 64   .31164 .30494 .29846 .29221 .28615 .28030 .27463

 

 65   .32508 .31831 .31177 .30543 .29930 .29336 .28761

 

 66   .33891 .33208 .32547 .31906 .31285 .30684 .30101

 

 67   .35318 .34630 .33963 .33316 .32689 .32081 .31491

 

 68   .36785 .36093 .35422 .34770 .34138 .33524 .32928

 

 69   .38290 .37595 .36920 .36265 .35628 .35009 .34408

 

 70   .39823 .39127 .38450 .37791 .37151 .36529 .35924

 

 71   .41378 .40681 .40003 .39343 .38701 .38076 .37467

 

 72   .42950 .42253 .41575 .40914 .40271 .39644 .39034

 

 73   .44535 .43840 .43162 .42502 .41858 .41231 .40619

 

 74   .46139 .45446 .44771 .44112 .43469 .42842 .42230

 

 75   .47769 .47080 .46408 .45752 .45111 .44485 .43874

 

 76   .49430 .48747 .48079 .47427 .46790 .46167 .45558

 

 77   .51123 .50447 .49786 .49139 .48506 .47888 .47282

 

 78   .52845 .52177 .51523 .50884 .50257 .49645 .49044

 

 79   .54584 .53926 .53282 .52650 .52032 .51426 .50833

 

 80   .56325 .55678 .55044 .54423 .53813 .53216 .52630

 

 81   .58054 .57419 .56797 .56186 .55587 .54999 .54422

 

 82   .59762 .59140 .58530 .57931 .57343 .56766 .56198

 

 83   .61448 .60840 .60243 .59657 .59081 .58515 .57958

 

 84   .63124 .62531 .61949 .61376 .60813 .60259 .59715

 

 85   .64800 .64224 .63657 .63099 .62550 .62010 .61478

 

 86   .66461 .65902 .65351 .64810 .64276 .63751 .63233

 

 87   .68083 .67541 .67008 .66483 .65965 .65455 .64953

 

 88   .69663 .69140 .68624 .68116 .67615 .67121 .66634

 

 89   .71201 .70696 .70199 .69708 .69224 .68747 .68276

 

 90   .72694 .72209 .71730 .71257 .70791 .70330 .69876

 

 91   .74117 .73650 .73190 .72735 .72286 .71842 .71404

 

 92   .75439 .74991 .74548 .74110 .73678 .73251 .72829

 

 93   .76664 .76233 .75806 .75385 .74969 .74557 .74150

 

 94   .77809 .77394 .76983 .76578 .76177 .75780 .75388

 

 95   .78899 .78500 .78106 .77715 .77329 .76947 .76569

 

 96   .79928 .79544 .79165 .78790 .78418 .78050 .77686

 

 97   .80883 .80514 .80149 .79787 .79430 .79075 .78725

 

 98   .81781 .81427 .81075 .80727 .80382 .80041 .79703

 

 99   .82661 .82320 .81982 .81648 .81316 .80988 .80662

 

 100   .83519 .83192 .82868 .82547 .82228 .81913 .81600

 

 101   .84368 .84055 .83744 .83437 .83131 .82829 .82529

 

 102   .85203 .84904 .84607 .84313 .84021 .83731 .83444

 

 103   .86034 .85748 .85465 .85184 .84906 .84629 .84355

 

 104   .86923 .86653 .86385 .86119 .85855 .85593 .85333

 

 105   .87792 .87537 .87283 .87032 .86782 .86534 .86287

 

 106   .88918 .88683 .88450 .88218 .87987 .87758 .87530

 

 107   .90291 .90082 .89873 .89666 .89460 .89255 .89051

 

 108   .92455 .92288 .92123 .91958 .91794 .91630 .91468

 

 109   .96211 .96125 .96041 .95956 .95872 .95788 .95704

 

 ____________________________________________________________________

 

 [table continued]

 

 INTEREST RATE

 

 =====================================================================

 

 AGE     9.6%   9.8%  10.0%

 

 =====================================================================

 

 0   .01578 .01546 .01516

 

 1   .00756 .00722 .00691

 

 2   .00753 .00717 .00684

 

 3   .00775 .00737 .00702

 

 4   .00810 .00770 .00733

 

 5   .00856 .00814 .00775

 

 6   .00910 .00865 .00824

 

 7   .00972 .00925 .00881

 

 8   .01041 .00991 .00945

 

 9   .01120 .01068 .01019

 

 10   .01210 .01154 .01103

 

 11   .01310 .01251 .01196

 

 12   .01419 .01357 .01299

 

 13   .01533 .01467 .01407

 

 14   .01646 .01578 .01514

 

 15   .01756 .01684 .01617

 

 16   .01860 .01785 .01714

 

 17   .01960 .01880 .01806

 

 18   .02056 .01972 .01894

 

 19   .02154 .02066 .01984

 

 20   .02258 .02165 .02079

 

 21   .02368 .02271 .02180

 

 22   .02484 .02382 .02286

 

 23   .02608 .02500 .02400

 

 24   .02741 .02628 .02522

 

 25   .02887 .02768 .02656

 

 26   .03044 .02919 .02802

 

 27   .03217 .03085 .02962

 

 28   .03402 .03263 .03133

 

 29   .03600 .03455 .03318

 

 30   .03812 .03659 .03515

 

 31   .04037 .03876 .03725

 

 32   .04276 .04107 .03948

 

 33   .04532 .04355 .04188

 

 34   .04805 .04619 .04444

 

 35   .05097 .04902 .04718

 

 36   .05409 .05205 .05012

 

 37   .05742 .05528 .05325

 

 38   .06099 .05874 .05662

 

 39   .06480 .06245 .06023

 

 40   .06889 .06643 .06411

 

 41   .07329 .07072 .06828

 

 42   .07800 .07531 .07277

 

 43   .08304 .08024 .07758

 

 44   .08841 .08549 .08272

 

 45   .09410 .09106 .08817

 

 46   .10013 .09696 .09395

 

 47   .10646 .10317 .10004

 

 48   .11313 .10972 .10646

 

 49   .12015 .11661 .11322

 

 50   .12754 .12388 .12037

 

 51   .13532 .13153 .12789

 

 52   .14345 .13953 .13577

 

 53   .15194 .14789 .14400

 

 54   .16078 .15661 .15260

 

 55   .17001 .16571 .16157

 

 56   .17962 .17519 .17093

 

 57   .18961 .18507 .18069

 

 58   .19996 .19530 .19080

 

 59   .21062 .20584 .20123

 

 60   .22158 .21669 .21196

 

 61   .23288 .22787 .22304

 

 62   .24456 .23945 .23451

 

 63   .25666 .25145 .24641

 

 64   .26915 .26384 .25870

 

 65   .28203 .27663 .27140

 

 66   .29536 .28987 .28456

 

 67   .30918 .30363 .29823

 

 68   .32349 .31787 .31240

 

 69   .33824 .33256 .32703

 

 70   .35335 .34762 .34204

 

 71   .36875 .36298 .35736

 

 72   .38438 .37858 .37293

 

 73   .40022 .39440 .38872

 

 74   .41632 .41049 .40479

 

 75   .43277 .42693 .42123

 

 76   .44963 .44380 .43811

 

 77   .46690 .46111 .45543

 

 78   .48457 .47881 .47317

 

 79   .50251 .49681 .49122

 

 80   .52056 .51492 .50939

 

 81   .53856 .53300 .52754

 

 82   .55641 .55094 .54557

 

 83   .57411 .56874 .56346

 

 84   .59179 .58652 .58134

 

 85   .60955 .60441 .59934

 

 86   .62724 .62222 .61728

 

 87   .64458 .63970 .63489

 

 88   .66154 .65680 .65213

 

 89   .67811 .67353 .66900

 

 90   .69427 .68984 .68547

 

 91   .70972 .70545 .70123

 

 92   .72412 .72000 .71593

 

 93   .73748 .73350 .72957

 

 94   .75000 .74616 .74237

 

 95   .76195 .75826 .75460

 

 96   .77326 .76970 .76617

 

 97   .78377 .78033 .77693

 

 98   .79368 .79036 .78708

 

 99   .80340 .80020 .79704

 

 100   .81290 .80982 .80678

 

 101   .82231 .81936 .81643

 

 102   .83159 .82876 .82596

 

 103   .84082 .83812 .83544

 

 104   .85074 .84818 .84563

 

 105   .86042 .85799 .85557

 

 106   .87304 .87079 .86855

 

 107   .88849 .88647 .88447

 

 108   .91306 .91145 .90984

 

 109   .95620 .95537 .95455

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE    10.2%  10.4%  10.6%  10.8%  11.0%  11.2%  11.4%

 

 =====================================================================

 

 0   .01488 .01463 .01439 .01417 .01396 .01377 .01359

 

 1   .00662 .00636 .00612 .00589 .00568 .00548 .00530

 

 2   .00654 .00626 .00600 .00576 .00554 .00533 .00514

 

 3   .00670 .00641 .00613 .00588 .00564 .00542 .00522

 

 4   .00699 .00668 .00639 .00612 .00587 .00563 .00542

 

 5   .00739 .00706 .00675 .00646 .00620 .00595 .00571

 

 6   .00786 .00751 .00718 .00687 .00659 .00633 .00608

 

 7   .00841 .00803 .00769 .00736 .00706 .00678 .00652

 

 8   .00902 .00863 .00826 .00791 .00759 .00730 .00702

 

 9   .00973 .00931 .00892 .00856 .00822 .00790 .00760

 

 10   .01055 .01010 .00969 .00930 .00894 .00861 .00829

 

 11   .01146 .01099 .01055 .01014 .00976 .00940 .00907

 

 12   .01246 .01196 .01150 .01106 .01066 .01028 .00993

 

 13   .01351 .01298 .01249 .01204 .01161 .01121 .01084

 

 14   .01455 .01400 .01348 .01300 .01255 .01213 .01173

 

 15   .01555 .01497 .01443 .01392 .01345 .01300 .01259

 

 16   .01648 .01587 .01530 .01477 .01427 .01380 .01336

 

 17   .01737 .01673 .01612 .01556 .01504 .01455 .01408

 

 18   .01822 .01754 .01691 .01632 .01576 .01525 .01476

 

 19   .01908 .01837 .01770 .01708 .01650 .01595 .01544

 

 20   .01999 .01924 .01854 .01788 .01726 .01669 .01615

 

 21   .02096 .02017 .01943 .01874 .01809 .01748 .01691

 

 22   .02197 .02114 .02036 .01963 .01895 .01830 .01770

 

 23   .02306 .02218 .02136 .02059 .01987 .01919 .01855

 

 24   .02424 .02331 .02245 .02163 .02087 .02016 .01948

 

 25   .02552 .02455 .02364 .02278 .02197 .02122 .02051

 

 26   .02692 .02589 .02493 .02403 .02318 .02238 .02162

 

 27   .02846 .02738 .02636 .02541 .02451 .02367 .02287

 

 28   .03012 .02898 .02791 .02690 .02595 .02506 .02422

 

 29   .03190 .03070 .02957 .02851 .02751 .02656 .02567

 

 30   .03381 .03254 .03135 .03023 .02917 .02817 .02723

 

 31   .03583 .03450 .03324 .03206 .03094 .02989 .02890

 

 32   .03799 .03659 .03527 .03402 .03284 .03173 .03068

 

 33   .04031 .03883 .03744 .03612 .03488 .03371 .03260

 

 34   .04279 .04123 .03976 .03838 .03707 .03583 .03465

 

 35   .04545 .04382 .04227 .04081 .03943 .03812 .03688

 

 36   .04830 .04658 .04495 .04341 .04196 .04058 .03927

 

 37   .05134 .04953 .04782 .04620 .04467 .04321 .04183

 

 38   .05462 .05272 .05092 .04921 .04760 .04606 .04461

 

 39   .05812 .05613 .05424 .05245 .05075 .04913 .04760

 

 40   .06190 .05981 .05782 .05594 .05415 .05245 .05083

 

 41   .06597 .06378 .06170 .05972 .05784 .05605 .05435

 

 42   .07035 .06806 .06587 .06380 .06182 .05994 .05815

 

 43   .07505 .07265 .07036 .06818 .06611 .06414 .06225

 

 44   .08008 .07757 .07518 .07290 .07072 .06865 .06667

 

 45   .08542 .08279 .08029 .07791 .07563 .07346 .07138

 

 46   .09108 .08834 .08573 .08324 .08085 .07858 .07640

 

 47   .09705 .09419 .09147 .08886 .08637 .08399 .08172

 

 48   .10335 .10038 .09754 .09482 .09222 .08973 .08735

 

 49   .10999 .10690 .10394 .10111 .09840 .09581 .09332

 

 50   .11701 .11380 .11073 .10778 .10496 .10225 .09965

 

 51   .12441 .12108 .11789 .11482 .11189 .10907 .10636

 

 52   .13217 .12871 .12540 .12222 .11916 .11623 .11341

 

 53   .14028 .13670 .13327 .12997 .12680 .12375 .12082

 

 54   .14875 .14505 .14150 .13808 .13480 .13163 .12859

 

 55   .15760 .15378 .15011 .14657 .14317 .13989 .13674

 

 56   .16684 .16290 .15911 .15546 .15194 .14855 .14528

 

 57   .17648 .17242 .16851 .16474 .16111 .15760 .15422

 

 58   .18647 .18229 .17827 .17438 .17064 .16702 .16353

 

 59   .19678 .19249 .18835 .18435 .18049 .17676 .17316

 

 60   .20740 .20300 .19875 .19464 .19066 .18682 .18311

 

 61   .21837 .21385 .20949 .20527 .20119 .19724 .19341

 

 62   .22973 .22511 .22064 .21631 .21212 .20807 .20414

 

 63   .24152 .23680 .23222 .22779 .22350 .21934 .21530

 

 64   .25372 .24890 .24422 .23969 .23529 .23103 .22690

 

 65   .26633 .26141 .25664 .25201 .24752 .24316 .23893

 

 66   .27940 .27439 .26953 .26481 .26023 .25577 .25145

 

 67   .29299 .28790 .28296 .27815 .27348 .26894 .26453

 

 68   .30709 .30193 .29691 .29202 .28728 .28265 .27816

 

 69   .32166 .31643 .31134 .30639 .30157 .29687 .29230

 

 70   .33661 .33133 .32618 .32116 .31628 .31152 .30688

 

 71   .35188 .34654 .34134 .33627 .33133 .32651 .32181

 

 72   .36742 .36204 .35679 .35168 .34668 .34181 .33706

 

 73   .38317 .37776 .37248 .36733 .36229 .35738 .35257

 

 74   .39923 .39380 .38849 .38330 .37823 .37328 .36844

 

 75   .41566 .41021 .40489 .39968 .39459 .38961 .38474

 

 76   .43254 .42709 .42176 .41655 .41144 .40645 .40156

 

 77   .44988 .44444 .43912 .43391 .42880 .42380 .41891

 

 78   .46765 .46224 .45694 .45174 .44665 .44166 .43677

 

 79   .48574 .48037 .47510 .46993 .46487 .45990 .45502

 

 80   .50397 .49865 .49343 .48830 .48327 .47834 .47349

 

 81   .52219 .51693 .51176 .50669 .50171 .49682 .49201

 

 82   .54029 .53510 .53000 .52499 .52007 .51523 .51047

 

 83   .55826 .55315 .54813 .54319 .53834 .53356 .52886

 

 84   .57624 .57123 .56629 .56144 .55666 .55195 .54732

 

 85   .59435 .58944 .58460 .57984 .57516 .57054 .56599

 

 86   .61241 .60762 .60289 .59824 .59365 .58913 .58468

 

 87   .63015 .62548 .62087 .61633 .61185 .60744 .60309

 

 88   .64753 .64299 .63851 .63409 .62973 .62543 .62118

 

 89   .66454 .66013 .65579 .65150 .64726 .64308 .63895

 

 90   .68115 .67689 .67268 .66853 .66442 .66037 .65637

 

 91   .69706 .69294 .68887 .68486 .68089 .67696 .67309

 

 92   .71190 .70792 .70399 .70011 .69627 .69247 .68872

 

 93   .72569 .72184 .71804 .71429 .71057 .70689 .70326

 

 94   .73861 .73490 .73123 .72759 .72400 .72044 .71692

 

 95   .75097 .74739 .74384 .74033 .73686 .73342 .73002

 

 96   .76267 .75922 .75579 .75240 .74905 .74572 .74243

 

 97   .77356 .77022 .76691 .76363 .76039 .75718 .75399

 

 98   .78382 .78059 .77740 .77423 .77110 .76799 .76491

 

 99   .79390 .79079 .78771 .78465 .78162 .77862 .77565

 

 100   .80376 .80076 .79779 .79485 .79193 .78904 .78617

 

 101   .81353 .81066 .80780 .80497 .80217 .79938 .79662

 

 102   .82318 .82042 .81768 .81496 .81227 .80960 .80694

 

 103   .83278 .83014 .82752 .82491 .82233 .81977 .81723

 

 104   .84310 .84059 .83810 .83563 .83317 .83073 .82831

 

 105   .85318 .85079 .84843 .84607 .84374 .84142 .83911

 

 106   .86633 .86413 .86193 .85975 .85758 .85543 .85329

 

 107   .88247 .88049 .87852 .87656 .87460 .87266 .87073

 

 108   .90825 .90666 .90507 .90350 .90193 .90037 .89881

 

 109   .95372 .95290 .95208 .95126 .95045 .94964 .94883

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE    11.6%  11.8%  12.0%

 

 =====================================================================

 

 0   .01343 .01327 .01312

 

 1   .00513 .00497 .00482

 

 2   .00496 .00479 .00463

 

 3   .00502 .00484 .00468

 

 4   .00521 .00502 .00484

 

 5   .00550 .00529 .00510

 

 6   .00585 .00563 .00543

 

 7   .00627 .00604 .00582

 

 8   .00675 .00651 .00628

 

 9   .00733 .00706 .00682

 

 10   .00799 .00772 .00746

 

 11   .00875 .00846 .00818

 

 12   .00960 .00928 .00899

 

 13   .01049 .01016 .00985

 

 14   .01136 .01102 .01069

 

 15   .01220 .01183 .01148

 

 16   .01295 .01257 .01220

 

 17   .01365 .01324 .01286

 

 18   .01430 .01387 .01347

 

 19   .01495 .01450 .01407

 

 20   .01564 .01516 .01471

 

 21   .01637 .01586 .01539

 

 22   .01713 .01660 .01610

 

 23   .01795 .01739 .01686

 

 24   .01885 .01825 .01769

 

 25   .01984 .01920 .01861

 

 26   .02091 .02025 .01961

 

 27   .02212 .02141 .02074

 

 28   .02342 .02267 .02196

 

 29   .02483 .02404 .02329

 

 30   .02634 .02551 .02471

 

 31   .02796 .02707 .02623

 

 32   .02968 .02874 .02785

 

 33   .03155 .03055 .02961

 

 34   .03354 .03249 .03149

 

 35   .03571 .03459 .03354

 

 36   .03803 .03685 .03573

 

 37   .04052 .03928 .03809

 

 38   .04322 .04191 .04066

 

 39   .04614 .04475 .04343

 

 40   .04929 .04783 .04643

 

 41   .05272 .05118 .04970

 

 42   .05644 .05481 .05326

 

 43   .06045 .05874 .05710

 

 44   .06478 .06298 .06125

 

 45   .06940 .06750 .06569

 

 46   .07432 .07233 .07043

 

 47   .07954 .07745 .07545

 

 48   .08507 .08288 .08078

 

 49   .09093 .08864 .08644

 

 50   .09716 .09477 .09247

 

 51   .10376 .10126 .09886

 

 52   .11071 .10810 .10560

 

 53   .11801 .11529 .11268

 

 54   .12566 .12284 .12012

 

 55   .13370 .13077 .12794

 

 56   .14213 .13909 .13615

 

 57   .15096 .14781 .14477

 

 58   .16015 .15689 .15374

 

 59   .16968 .16631 .16305

 

 60   .17952 .17604 .17268

 

 61   .18971 .18613 .18266

 

 62   .20033 .19664 .19306

 

 63   .21139 .20760 .20392

 

 64   .22289 .21899 .21521

 

 65   .23482 .23083 .22695

 

 66   .24724 .24316 .23918

 

 67   .26024 .25606 .25200

 

 68   .27378 .26952 .26537

 

 69   .28785 .28351 .27928

 

 70   .30235 .29794 .29364

 

 71   .31722 .31275 .30838

 

 72   .33241 .32788 .32345

 

 73   .34788 .34330 .33882

 

 74   .36370 .35908 .35455

 

 75   .37997 .37531 .37074

 

 76   .39677 .39208 .38749

 

 77   .41411 .40940 .40479

 

 78   .43197 .42726 .42265

 

 79   .45024 .44554 .44094

 

 80   .46873 .46406 .45947

 

 81   .48729 .48265 .47809

 

 82   .50580 .50120 .49667

 

 83   .52424 .51969 .51522

 

 84   .54277 .53828 .53386

 

 85   .56151 .55710 .55275

 

 86   .58029 .57596 .57170

 

 87   .59880 .59456 .59039

 

 88   .61700 .61287 .60879

 

 89   .63488 .63086 .62689

 

 90   .65241 .64851 .64465

 

 91   .66925 .66547 .66173

 

 92   .68501 .68134 .67771

 

 93   .69967 .69611 .69259

 

 94   .71344 .71000 .70659

 

 95   .72665 .72331 .72001

 

 96   .73917 .73595 .73275

 

 97   .75084 .74772 .74463

 

 98   .76186 .75884 .75584

 

 99   .77270 .76978 .76688

 

 100   .78333 .78051 .77771

 

 101   .79388 .79117 .78847

 

 102   .80431 .80170 .79911

 

 103   .81470 .81220 .80971

 

 104   .82591 .82352 .82115

 

 105   .83682 .83455 .83229

 

 106   .85116 .84904 .84694

 

 107   .86881 .86690 .86500

 

 108   .89727 .89572 .89419

 

 109   .94803 .94723 .94643

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE    12.2%  12.4%  12.6%  12.8%  13.0%  13.2%  13.4%

 

 =====================================================================

 

 0   .01298 .01285 .01273 .01261 .01250 .01240 .01230

 

 1   .00468 .00455 .00443 .00431 .00420 .00410 .00400

 

 2   .00448 .00435 .00421 .00409 .00398 .00387 .00376

 

 3   .00452 .00437 .00423 .00410 .00398 .00386 .00375

 

 4   .00468 .00452 .00437 .00423 .00410 .00397 .00386

 

 5   .00493 .00476 .00460 .00445 .00431 .00418 .00405

 

 6   .00524 .00506 .00489 .00473 .00458 .00444 .00430

 

 7   .00562 .00543 .00525 .00508 .00492 .00477 .00462

 

 8   .00606 .00586 .00566 .00548 .00531 .00515 .00499

 

 9   .00659 .00637 .00616 .00597 .00579 .00561 .00545

 

 10   .00721 .00698 .00676 .00655 .00636 .00617 .00600

 

 11   .00792 .00767 .00744 .00722 .00701 .00682 .00663

 

 12   .00871 .00845 .00821 .00797 .00775 .00754 .00735

 

 13   .00955 .00928 .00902 .00877 .00854 .00831 .00810

 

 14   .01038 .01009 .00981 .00955 .00930 .00907 .00885

 

 15   .01116 .01085 .01056 .01028 .01002 .00977 .00954

 

 16   .01186 .01153 .01123 .01094 .01066 .01040 .01015

 

 17   .01250 .01215 .01183 .01152 .01124 .01096 .01070

 

 18   .01308 .01272 .01238 .01206 .01175 .01147 .01119

 

 19   .01367 .01329 .01293 .01259 .01227 .01196 .01167

 

 20   .01428 .01388 .01350 .01314 .01280 .01248 .01217

 

 21   .01494 .01451 .01411 .01373 .01337 .01303 .01271

 

 22   .01562 .01517 .01475 .01435 .01397 .01361 .01326

 

 23   .01635 .01588 .01543 .01501 .01460 .01422 .01386

 

 24   .01716 .01665 .01618 .01573 .01530 .01489 .01451

 

 25   .01804 .01751 .01701 .01653 .01608 .01565 .01524

 

 26   .01902 .01845 .01792 .01741 .01693 .01648 .01604

 

 27   .02011 .01951 .01895 .01841 .01790 .01742 .01696

 

 28   .02129 .02066 .02006 .01949 .01895 .01844 .01795

 

 29   .02258 .02191 .02127 .02067 .02009 .01955 .01903

 

 30   .02396 .02325 .02257 .02193 .02132 .02074 .02019

 

 31   .02543 .02467 .02396 .02328 .02263 .02201 .02143

 

 32   .02701 .02621 .02545 .02472 .02404 .02338 .02276

 

 33   .02871 .02786 .02706 .02629 .02556 .02487 .02420

 

 34   .03054 .02964 .02879 .02797 .02720 .02646 .02576

 

 35   .03253 .03158 .03067 .02981 .02898 .02820 .02745

 

 36   .03467 .03366 .03269 .03178 .03090 .03007 .02928

 

 37   .03697 .03590 .03488 .03391 .03298 .03209 .03125

 

 38   .03947 .03833 .03725 .03622 .03524 .03430 .03340

 

 39   .04217 .04096 .03982 .03873 .03768 .03669 .03573

 

 40   .04510 .04383 .04262 .04146 .04035 .03930 .03828

 

 41   .04830 .04695 .04567 .04445 .04327 .04215 .04108

 

 42   .05177 .05035 .04900 .04770 .04646 .04527 .04413

 

 43   .05553 .05404 .05261 .05123 .04992 .04866 .04746

 

 44   .05960 .05802 .05651 .05506 .05368 .05235 .05107

 

 45   .06395 .06229 .06069 .05917 .05770 .05630 .05495

 

 46   .06860 .06685 .06517 .06356 .06202 .06053 .05911

 

 47   .07353 .07169 .06992 .06823 .06660 .06504 .06353

 

 48   .07877 .07684 .07498 .07320 .07149 .06984 .06826

 

 49   .08433 .08231 .08036 .07849 .07669 .07495 .07329

 

 50   .09026 .08814 .08609 .08413 .08224 .08042 .07867

 

 51   .09655 .09433 .09219 .09013 .08815 .08624 .08440

 

 52   .10318 .10086 .09863 .09647 .09439 .09239 .09046

 

 53   .11017 .10774 .10541 .10315 .10098 .09888 .09686

 

 54   .11750 .11498 .11254 .11019 .10792 .10572 .10361

 

 55   .12522 .12258 .12005 .11759 .11522 .11294 .11072

 

 56   .13332 .13059 .12794 .12539 .12292 .12054 .11823

 

 57   .14183 .13899 .13624 .13359 .13102 .12853 .12613

 

 58   .15070 .14775 .14490 .14215 .13948 .13689 .13439

 

 59   .15990 .15685 .15389 .15103 .14826 .14558 .14298

 

 60   .16942 .16626 .16321 .16024 .15737 .15459 .15189

 

 61   .17929 .17603 .17287 .16981 .16684 .16395 .16115

 

 62   .18960 .18623 .18297 .17980 .17673 .17375 .17085

 

 63   .20035 .19688 .19352 .19025 .18708 .18400 .18100

 

 64   .21154 .20797 .20451 .20114 .19787 .19469 .19159

 

 65   .22318 .21951 .21595 .21249 .20912 .20584 .20265

 

 66   .23532 .23156 .22790 .22434 .22088 .21751 .21422

 

 67   .24804 .24419 .24044 .23679 .23324 .22977 .22640

 

 68   .26133 .25740 .25356 .24983 .24618 .24263 .23917

 

 69   .27516 .27114 .26723 .26341 .25969 .25605 .25251

 

 70   .28945 .28536 .28137 .27747 .27367 .26996 .26633

 

 71   .30412 .29996 .29590 .29193 .28806 .28427 .28057

 

 72   .31913 .31491 .31078 .30675 .30281 .29895 .29519

 

 73   .33444 .33016 .32597 .32188 .31788 .31396 .31013

 

 74   .35012 .34579 .34155 .33741 .33335 .32938 .32549

 

 75   .36628 .36190 .35762 .35343 .34932 .34530 .34136

 

 76   .38299 .37858 .37427 .37004 .36589 .36183 .35784

 

 77   .40028 .39585 .39151 .38725 .38307 .37898 .37496

 

 78   .41812 .41368 .40933 .40506 .40086 .39675 .39271

 

 79   .43641 .43198 .42762 .42334 .41914 .41502 .41096

 

 80   .45496 .45054 .44619 .44192 .43772 .43360 .42954

 

 81   .47360 .46920 .46487 .46061 .45643 .45231 .44827

 

 82   .49223 .48785 .48355 .47932 .47516 .47106 .46703

 

 83   .51081 .50648 .50221 .49802 .49388 .48982 .48581

 

 84   .52951 .52523 .52101 .51686 .51277 .50874 .50477

 

 85   .54847 .54425 .54009 .53600 .53196 .52798 .52406

 

 86   .56749 .56335 .55926 .55523 .55126 .54734 .54348

 

 87   .58627 .58221 .57820 .57425 .57035 .56650 .56270

 

 88   .60477 .60079 .59688 .59301 .58919 .58542 .58170

 

 89   .62297 .61909 .61527 .61149 .60776 .60408 .60044

 

 90   .64084 .63707 .63335 .62968 .62604 .62246 .61891

 

 91   .65803 .65437 .65076 .64719 .64366 .64017 .63672

 

 92   .67412 .67058 .66707 .66360 .66017 .65678 .65342

 

 93   .68911 .68567 .68227 .67890 .67557 .67227 .66901

 

 94   .70321 .69988 .69657 .69330 .69006 .68686 .68369

 

 95   .71674 .71351 .71031 .70713 .70399 .70088 .69781

 

 96   .72959 .72646 .72335 .72028 .71724 .71422 .71123

 

 97   .74156 .73853 .73552 .73254 .72959 .72666 .72376

 

 98   .75287 .74993 .74702 .74413 .74126 .73842 .73561

 

 99   .76401 .76117 .75834 .75555 .75277 .75002 .74730

 

 100   .77494 .77219 .76946 .76676 .76408 .76142 .75878

 

 101   .78580 .78315 .78052 .77791 .77532 .77275 .77021

 

 102   .79654 .79399 .79146 .78894 .78645 .78397 .78152

 

 103   .80724 .80479 .80236 .79994 .79755 .79517 .79280

 

 104   .81879 .81646 .81413 .81183 .80954 .80726 .80501

 

 105   .83005 .82782 .82560 .82340 .82121 .81904 .81688

 

 106   .84485 .84277 .84071 .83866 .83662 .83459 .83257

 

 107   .86311 .86124 .85937 .85751 .85566 .85382 .85199

 

 108   .89266 .89114 .88963 .88812 .88662 .88513 .88364

 

 109   .94563 .94484 .94405 .94326 .94248 .94170 .94092

 

 _____________________________________________________________________

 

 [table continued]

 

 INTEREST RATE

 

 =====================================================================

 

 AGE    13.6%  13.8%  14.0%

 

 =====================================================================

 

 0   .01221 .01212 .01203

 

 1   .00391 .00382 .00374

 

 2   .00366 .00357 .00348

 

 3   .00365 .00355 .00345

 

 4   .00375 .00364 .00354

 

 5   .00393 .00382 .00371

 

 6   .00418 .00406 .00394

 

 7   .00449 .00436 .00423

 

 8   .00485 .00471 .00458

 

 9   .00529 .00514 .00500

 

 10   .00583 .00567 .00552

 

 11   .00645 .00628 .00612

 

 12   .00716 .00698 .00681

 

 13   .00790 .00771 .00753

 

 14   .00864 .00843 .00824

 

 15   .00932 .00910 .00890

 

 16   .00992 .00969 .00948

 

 17   .01045 .01022 .00999

 

 18   .01093 .01068 .01044

 

 19   .01140 .01113 .01088

 

 20   .01188 .01161 .01134

 

 21   .01240 .01211 .01183

 

 22   .01294 .01263 .01233

 

 23   .01351 .01319 .01287

 

 24   .01415 .01380 .01347

 

 25   .01485 .01448 .01413

 

 26   .01563 .01524 .01487

 

 27   .01652 .01610 .01571

 

 28   .01748 .01704 .01662

 

 29   .01853 .01806 .01762

 

 30   .01966 .01916 .01869

 

 31   .02087 .02034 .01983

 

 32   .02217 .02160 .02106

 

 33   .02357 .02297 .02240

 

 34   .02509 .02445 .02383

 

 35   .02674 .02606 .02541

 

 36   .02852 .02779 .02710

 

 37   .03044 .02967 .02893

 

 38   .03254 .03172 .03094

 

 39   .03482 .03395 .03312

 

 40   .03732 .03639 .03550

 

 41   .04005 .03907 .03812

 

 42   .04304 .04200 .04100

 

 43   .04630 .04520 .04413

 

 44   .04985 .04867 .04754

 

 45   .05365 .05241 .05121

 

 46   .05774 .05643 .05516

 

 47   .06209 .06070 .05936

 

 48   .06673 .06527 .06385

 

 49   .07168 .07013 .06864

 

 50   .07698 .07535 .07378

 

 51   .08262 .08091 .07926

 

 52   .08860 .08680 .08506

 

 53   .09491 .09302 .09120

 

 54   .10156 .09958 .09767

 

 55   .10859 .10652 .10451

 

 56   .11599 .11383 .11174

 

 57   .12380 .12154 .11936

 

 58   .13197 .12962 .12734

 

 59   .14046 .13801 .13564

 

 60   .14927 .14673 .14426

 

 61   .15844 .15580 .15324

 

 62   .16803 .16530 .16264

 

 63   .17809 .17525 .17250

 

 64   .18859 .18566 .18281

 

 65   .19955 .19652 .19358

 

 66   .21102 .20791 .20487

 

 67   .22311 .21990 .21678

 

 68   .23579 .23250 .22929

 

 69   .24905 .24567 .24237

 

 70   .26279 .25934 .25596

 

 71   .27696 .27343 .26998

 

 72   .29150 .28790 .28438

 

 73   .30638 .30271 .29913

 

 74   .32168 .31795 .31430

 

 75   .33750 .33372 .33001

 

 76   .35394 .35011 .34636

 

 77   .37103 .36716 .36337

 

 78   .38874 .38485 .38103

 

 79   .40698 .40308 .39924

 

 80   .42556 .42164 .41779

 

 81   .44429 .44038 .43653

 

 82   .46307 .45916 .45532

 

 83   .48187 .47799 .47416

 

 84   .50086 .49701 .49321

 

 85   .52019 .51638 .51262

 

 86   .53966 .53591 .53220

 

 87   .55895 .55526 .55161

 

 88   .57802 .57439 .57081

 

 89   .59685 .59330 .58979

 

 90   .61540 .61194 .60851

 

 91   .63330 .62993 .62659

 

 92   .65010 .64682 .64357

 

 93   .66578 .66258 .65942

 

 94   .68055 .67744 .67437

 

 95   .69476 .69174 .68875

 

 96   .70828 .70534 .70244

 

 97   .72089 .71804 .71522

 

 98   .73282 .73006 .72732

 

 99   .74459 .74191 .73926

 

 100   .75616 .75357 .75099

 

 101   .76768 .76517 .76268

 

 102   .77908 .77666 .77426

 

 103   .79046 .78813 .78582

 

 104   .80276 .80054 .79832

 

 105   .81474 .81260 .81049

 

 106   .83057 .82857 .82659

 

 107   .85017 .84835 .84655

 

 108   .88216 .88068 .87922

 

 109   .94014 .93937 .93860

 

 _____________________________________________________________________

 

 

(f) Effective dates. This section applies after April 30, 1999.

Par. 6. Immediately following section 1.643(d)-2, the undesignated centerheading is revised to read as follows:

Pooled Income Fund Actuarial Tables Applicable Before May 1, 1999

Par. 7. Section 1.642(c)-6A is amended by:

1. Revising the section heading.

2. Amending newly designated paragraph (e) as follows:

a. Paragraph (e) heading is revised.

b. Paragraph (e)(1), first sentence is revised.

c. Paragraph (e)(2)(ii) is revised.

d. Paragraph (e)(3) is revised.

e. Paragraph (e)(4) is revised.

f. Paragraph (e)(5) introductory text is revised.

g. Paragraph (e)(5), the heading for Table S is revised.

The revisions read as follows:

Section 1.642(c)-6A Valuation of charitable remainder interests for which the valuation date is before May 1, 1999.

* * * * *

(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, and before May 1, 1999--(1) In general. In the case of transfers to pooled income funds for which the valuation date is after April 30, 1989, and before May 1, 1999, the present value of a remainder interest is determined under this section. * * *

(2) * * *

(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. The provisions of section 1.642(c)-6(c) apply for determining the yearly rate of return. However, where the taxable year is less than 12 months, the provisions of section 1.642(c)-6T(e)(3)(ii) apply for the determining the yearly rate of return.

(3) Pooled income funds in existence less than 3 taxable years. The provisions of section 1.642(c)-6T(e)(4) apply for determining the highest yearly rate of return when the pooled income fund has been in existence less than three taxable years.

(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. Table S in paragraph (e)(5) of this section includes factors for yearly rates of return from 4.2 to 14 percent. Many actuarial factors not contained in Table S in paragraph (e)(5) of this section are contained in Table S in Internal Revenue Service Publication 1457, "Actuarial Values, Alpha Volume," (8-89). Publication 1457 is no longer available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. However, pertinent factors in this publication may be obtained by a written request to: CC:DOM:CORP:R (IRS Publication 1457), room 5226,Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. 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. For an example of a computation of the present value of a remainder interest requiring a linear interpolation adjustment, see section 1.642(c)-6T(e)(5).

(5) Actuarial tables. In the case of transfers for which the valuation date is after April 30, 1989, and before May 1, 1999, 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, and Before May 1, 1999]

 

 * * * * *

 

 

Par. 8. Section 1.664-4 is amended as follows:

1. Paragraph (a)(1) is revised.

2. Paragraph (d) is removed.

3. Paragraphs (e) heading, (e)(1) through (e)(5), and (e)(6) heading, introductory text , and Table U(1) are redesignated as section 1.664-4A(e) heading, (e)(1) through (e)(5) and (e)(6) heading, introductory text, and Table U(1), respectively.

4. New paragraphs (d) through (e)(5) are added.

5. New paragraph heading and introductory text are added to remaining paragraph (e)(6) preceding Table D.

6. Paragraph (f) is revised.

The additions and revision read as follows:

Section 1.664-4 Calculation of the fair market value of the remainder interest in a charitable remainder unitrust.

(a) * * *

(1) [Reserved]. For further guidance, see section 1.664-4T(a)(1).

* * * * *

(d) through (e)(5) [Reserved]. For further guidance, see section 1.664-4T(d) through (e)(5).

(6) Actuarial Table D and F (4.2 through 14.0) 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 upon a term of years is determined by using the section 7520 rate and the tables in this paragraph (e)(6). For transfers for which the valuation date is after April 30, 1999, where the present value of a charitable remainder unitrust interest is dependent on the termination of a life interest , see section 1.664-4T(e)(7). 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, Book Beth," (1999). A copy of this publication is available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402.

* * * * *

(f) Effective dates. This section applies after April 30, 1989, and before May 1, 1999.

Par. 9 Section 1.664-4T is added to read as follows:

Section 1.664-4T Calculation of the fair market value of the remainder interest in a charitable remainder unitrust (temporary).

(a) [Reserved] For further guidance, see section 1.664-4(a).

(1) Life contingencies determined as to each life involved, from the values of lx set forth in Table 90CM contained in section 20.2031-7T(d)(7) of this chapter (Estate Tax Regulations) in the case of transfers for which the valuation date is after

April 30, 1999; or from Table 80CNSMT contained section 20.2031-7A(e)(4) of this chapter in the case of transfer for which the valuation date is after April 30, 1989, and before May 1, 1999. See 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;

(a)(2) through (c) [Reserved] For further guidance, see section 1,664-4(a)(2) through (c).

(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, 1999, 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, 1999, 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)

 

 04-30-89       05-01-99            1.664-4A(e)

 

 _____________________________________________________________________

 

 

(e) Valuation of charitable remainder unitrusts having certain payout sequences for transfers for which the valuation date is after April 30, 1999--(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, 1999, 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) For purposes of sections 2055, 2106, or 2624, if on May 1, 1999, the decedent was mentally incompetent so that the disposition of the property could not be changed, and the decedent died after April 30, 1999, 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, 1999, the present value of a remainder interest under this section is determined as if the valuation date with respect to the decedent's gross estate is either before May 1, 1999, or after April 30, 1999, at the option of the decedent's executor.

(ii) For purposes of sections 170, 2055, 2106, 2522, or 2624, in the case of transfers to a charitable remainder unitrust for which the valuation date is after April 30, 1999, and before July 1, 1999, the present value of a remainder interest based on one or more measuring lives is determined under this section by use of the section 7520 interest rate for the month in which the valuation date occurs (See section 1.7520-1(b) and 1.7520-2(a)(2)) and the appropriate actuarial tables under either paragraph (e)(7) of this section or section 1.664-4A(e)(6), at the option of the donor or the decedent's executor, as the case may be.

(iii) For purposes of paragraphs (e)(2)(i) and (ii) of this section, where the donor or decedent's executor is given the option to use the appropriate actuarial tables under either paragraph (e)(7) of this section or section 1.664-4A(e)(6), the donor or decedent's executor must use the same actuarial table with respect to each individual transaction and with respect to all transfers occurring on the valuation date (e.g., gift and income tax charitable deductions with respect to the same transfer must be determined based on the same tables, and all assets includible in the gross estate and/or estate tax deductions claimed must be valued based on the same tables).

(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 in section 1.664-4(e)(6), for the section 7520 interest rate applicable to the transfer. If the interest rate is between 4.2 and 14 percent, see section 1.664-4(e)(6). 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 November 30, 1983, is the factor under the appropriate adjusted payout rate in Table D of section 1.664-4(e)(6) 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. The application of this paragraph (e)(4) may be illustrated by the following example:

Example. D transfers $100,000 to a charitable remainder unitrust on January 1. 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 (the month that the transfer occurred) is 9.6 percent. Under Table F(9.6) in section 1.664-4(e)(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 in section 1.664-4(e)(6), 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%    =      x

 

 _____________        _______

 

 0.2%            .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, 1999, is the factor in Table U(1) in paragraph (e)(7) 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)(7) 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 (e)(5) may be illustrated by the following example:

Example. A, who is 44 years and 11 months old, transfers $100,000 to a charitable remainder unitrust on January 1st. 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 is 9.6 percent. Under Table F(9.6) in section 1.664-4(e)(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) in this section, the present value of the remainder interest is $10,109.00, computed as follows:

 Factor at 8.4 percent at age 45 ...........   .10117

 

 Factor at 8.6 percent at age 45 ...........   .09715

 

 Difference ................................   .00402

 

 Interpolation adjustment:

 

 8.404% - 8.4%   =       x

 

 _____________        ______

 

   0.2%              .00402

 

 x   =  .00008

 

 Factor at 8.4 percent at age 45 ..........    .10117

 

 Less: Interpolation adjustment ...........    .00008

 

 Interpolated Factor ......................    .10109

 

 Present value of remainder interest:

 

 ($100,000  X  .10109) ...............   $10,109.00

 

 

(6) [Reserved].

(7) Actuarial Table U(1) for transfers for which the valuation date is after April 30, 1999. For transfers for which the valuation date is after April 30, 1999, 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, Table U(1) in this paragraph (e)(7), and Table D and Table F(4.2) through (14.0) in section 1.664-4(e)(6). 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, Book Beth," (1999). A copy of this publication is available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402.

 TABLE U(1)

 

 BASED ON LIFE TABLE 90CM

 

 UNITRUST SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE FOR TRANSFERS AFTER APRIL 30, 1999

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE     4.2%   4.4%   4.6%   4.8%   5.0%   5.2%   5.4%

 

 =====================================================================

 

 0   .06177 .05580 .05061 .04609 .04215 .03871 .03570

 

 1   .05543 .04925 .04388 .03919 .03509 .03151 .02838

 

 2   .05716 .05081 .04528 .04045 .03622 .03252 .02927

 

 3   .05920 .05268 .04699 .04201 .03765 .03382 .03046

 

 4   .06143 .05475 .04889 .04376 .03926 .03530 .03182

 

 5   .06384 .05697 .05095 .04567 .04103 .03694 .03334

 

 6   .06637 .05933 .05315 .04771 .04292 .03870 .03497

 

 7   .06905 .06183 .05547 .04987 .04494 .04058 .03673

 

 8   .07186 .06445 .05792 .05216 .04708 .04258 .03859

 

 9   .07482 .06722 .06052 .05460 .04936 .04471 .04060

 

 10   .07793 .07015 .06327 .05718 .05179 .04700 .04274

 

 11   .08120 .07323 .06617 .05991 .05435 .04942 .04502

 

 12   .08461 .07645 .06920 .06277 .05706 .05197 .04744

 

 13   .08812 .07976 .07234 .06574 .05985 .05461 .04993

 

 14   .09168 .08313 .07552 .06874 .06269 .05729 .05247

 

 15   .09527 .08652 .07872 .07176 .06554 .05999 .05501

 

 16   .09886 .08991 .08192 .07478 .06839 .06267 .05754

 

 17   .10249 .09334 .08515 .07782 .07126 .06537 .06008

 

 18   .10616 .09680 .08842 .08090 .07415 .06809 .06264

 

 19   .10994 .10037 .09178 .08407 .07714 .07091 .06529

 

 20   .11384 .10406 .09527 .08737 .08025 .07383 .06805

 

 21   .11790 .10790 .09891 .09080 .08349 .07690 .07094

 

 22   .12208 .11188 .10267 .09436 .08686 .08008 .07395

 

 23   .12643 .11601 .10659 .09808 .09038 .08342 .07710

 

 24   .13095 .12031 .11069 .10197 .09408 .08692 .08042

 

 25   .13567 .12481 .11497 .10605 .09795 .09060 .08392

 

 26   .14058 .12950 .11945 .11032 .10202 .09447 .08760

 

 27   .14571 .13442 .12415 .11481 .10631 .09856 .09149

 

 28   .15104 .13953 .12904 .11949 .11078 .10284 .09558

 

 29   .15656 .14484 .13414 .12438 .11546 .10731 .09986

 

 30   .16229 .15034 .13943 .12946 .12034 .11198 .10433

 

 31   .16821 .15605 .14493 .13474 .12541 .11685 .10900

 

 32   .17433 .16196 .15063 .14023 .13069 .12193 .11387

 

 33   .18068 .16810 .15655 .14595 .13620 .12723 .11897

 

 34   .18724 .17446 .16270 .15189 .14193 .13275 .12430

 

 35   .19405 .18107 .16910 .15808 .14791 .13853 .12987

 

 36   .20109 .18791 .17574 .16451 .15414 .14456 .13569

 

 37   .20838 .19500 .18263 .17120 .16062 .15083 .14177

 

 38   .21593 .20236 .18979 .17816 .16739 .15739 .14813

 

 39   .22374 .20998 .19723 .18540 .17443 .16423 .15477

 

 40   .23183 .21789 .20496 .19294 .18177 .17138 .16172

 

 41   .24021 .22611 .21299 .20079 .18943 .17885 .16899

 

 42   .24889 .23463 .22134 .20896 .19741 .18665 .17660

 

 43   .25786 .24344 .23000 .21744 .20572 .19477 .18453

 

 44   .26712 .25257 .23896 .22625 .21435 .20322 .19281

 

 45   .27665 .26196 .24821 .23534 .22328 .21198 .20139

 

 46   .28644 .27163 .25774 .24472 .23251 .22105 .21028

 

 47   .29647 .28155 .26754 .25438 .24201 .23040 .21947

 

 48   .30676 .29173 .27760 .26431 .25181 .24004 .22896

 

 49   .31729 .30217 .28794 .27453 .26190 .24999 .23876

 

 50   .32808 .31289 .29856 .28505 .27229 .26026 .24889

 

 51   .33912 .32387 .30946 .29585 .28299 .27083 .25933

 

 52   .35038 .33507 .32060 .30691 .29395 .28168 .27005

 

 53   .36185 .34651 .33198 .31821 .30517 .29280 .28106

 

 54   .37352 .35815 .34358 .32976 .31664 .30418 .29234

 

 55   .38539 .37002 .35542 .34155 .32836 .31583 .30390

 

 56   .39746 .38209 .36748 .35358 .34034 .32774 .31574

 

 57   .40971 .39437 .37976 .36584 .35257 .33992 .32785

 

 58   .42212 .40682 .39222 .37829 .36500 .35231 .34019

 

 59   .43464 .41939 .40482 .39090 .37759 .36488 .35272

 

 60   .44726 .43207 .41754 .40364 .39034 .37761 .36542

 

 61   .45999 .44488 .43041 .41655 .40326 .39053 .37833

 

 62   .47286 .45785 .44345 .42964 .41639 .40367 .39146

 

 63   .48589 .47098 .45667 .44293 .42972 .41703 .40484

 

 64   .49903 .48426 .47005 .45638 .44324 .43060 .41843

 

 65   .51229 .49766 .48357 .47001 .45694 .44435 .43223

 

 66   .52568 .51121 .49726 .48381 .47084 .45833 .44626

 

 67   .53924 .52495 .51115 .49784 .48498 .47256 .46056

 

 68   .55293 .53883 .52521 .51205 .49932 .48701 .47511

 

 69   .56671 .55283 .53940 .52640 .51382 .50165 .48985

 

 70   .58052 .56687 .55365 .54084 .52843 .51639 .50473

 

 71   .59431 .58091 .56791 .55529 .54306 .53118 .51966

 

 72   .60804 .59490 .58213 .56973 .55768 .54598 .53461

 

 73   .62168 .60881 .59629 .58411 .57227 .56076 .54955

 

 74   .63528 .62268 .61042 .59848 .58686 .57555 .56453

 

 75   .64887 .63657 .62458 .61290 .60151 .59041 .57959

 

 76   .66249 .65049 .63880 .62739 .61625 .60538 .59478

 

 77   .67612 .66446 .65307 .64194 .63108 .62046 .61009

 

 78   .68975 .67843 .66736 .65654 .64596 .63561 .62548

 

 79   .70330 .69233 .68160 .67109 .66081 .65074 .64088

 

 80   .71666 .70605 .69566 .68548 .67550 .66573 .65615

 

 81   .72975 .71950 .70946 .69961 .68995 .68047 .67117

 

 82   .74250 .73263 .72293 .71342 .70407 .69490 .68589

 

 83   .75493 .74542 .73608 .72690 .71788 .70902 .70031

 

 84   .76712 .75798 .74900 .74016 .73147 .72292 .71451

 

 85   .77913 .77037 .76175 .75326 .74491 .73668 .72859

 

 86   .79086 .78248 .77423 .76610 .75808 .75019 .74241

 

 87   .80218 .79418 .78628 .77850 .77083 .76326 .75580

 

 88   .81307 .80544 .79790 .79047 .78313 .77589 .76874

 

 89   .82355 .81628 .80909 .80200 .79500 .78808 .78125

 

 90   .83360 .82668 .81985 .81309 .80642 .79982 .79330

 

 91   .84308 .83650 .83000 .82357 .81721 .81092 .80470

 

 92   .85182 .84556 .83937 .83325 .82718 .82119 .81525

 

 93   .85985 .85390 .84800 .84215 .83637 .83064 .82497

 

 94   .86732 .86164 .85601 .85044 .84491 .83944 .83402

 

 95   .87437 .86895 .86359 .85827 .85300 .84778 .84260

 

 96   .88097 .87582 .87070 .86563 .86060 .85561 .85066

 

 97   .88708 .88216 .87727 .87243 .86762 .86285 .85811

 

 98   .89280 .88810 .88343 .87880 .87420 .86964 .86511

 

 99   .89836 .89388 .88943 .88501 .88062 .87626 .87193

 

 100   .90375 .89948 .89525 .89103 .88685 .88269 .87856

 

 101   .90905 .90500 .90097 .89696 .89298 .88902 .88509

 

 102   .91424 .91040 .90658 .90278 .89900 .89524 .89150

 

 103   .91939 .91575 .91214 .90854 .90496 .90139 .89785

 

 104   .92485 .92144 .91805 .91467 .91131 .90796 .90463

 

 105   .93020 .92701 .92383 .92067 .91751 .91437 .91125

 

 106   .93701 .93411 .93122 .92834 .92546 .92260 .91974

 

 107   .94522 .94268 .94013 .93760 .93507 .93254 .93002

 

 108   .95782 .95583 .95385 .95187 .94989 .94791 .94593

 

 109   .97900 .97800 .97700 .97600 .97500 .97400 .97300

 

 _____________________________________________________________________

 

 [table continued]

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE     5.6%   5.8%   6.0%

 

 =====================================================================

 

 0   .03307 .03075 .02872

 

 1   .02563 .02321 .02109

 

 2   .02642 .02391 .02170

 

 3   .02750 .02490 .02260

 

 4   .02876 .02605 .02366

 

 5   .03016 .02735 .02487

 

 6   .03168 .02876 .02618

 

 7   .03332 .03029 .02761

 

 8   .03506 .03192 .02914

 

 9   .03694 .03369 .03079

 

 10   .03896 .03559 .03259

 

 11   .04111 .03762 .03450

 

 12   .04339 .03978 .03655

 

 13   .04576 .04202 .03867

 

 14   .04815 .04428 .04081

 

 15   .05055 .04655 .04296

 

 16   .05294 .04880 .04508

 

 17   .05533 .05105 .04720

 

 18   .05774 .05332 .04933

 

 19   .06023 .05566 .05153

 

 20   .06283 .05811 .05384

 

 21   .06555 .06068 .05626

 

 22   .06839 .06336 .05879

 

 23   .07138 .06618 .06146

 

 24   .07452 .06915 .06427

 

 25   .07784 .07230 .06726

 

 26   .08134 .07563 .07042

 

 27   .08505 .07916 .07379

 

 28   .08895 .08288 .07733

 

 29   .09304 .08679 .08106

 

 30   .09732 .09089 .08498

 

 31   .10179 .09517 .08909

 

 32   .10647 .09966 .09339

 

 33   .11137 .10437 .09791

 

 34   .11650 .10930 .10265

 

 35   .12187 .11448 .10764

 

 36   .12749 .11990 .11287

 

 37   .13337 .12558 .11835

 

 38   .13953 .13154 .12412

 

 39   .14597 .13779 .13017

 

 40   .15272 .14434 .13653

 

 41   .15980 .15123 .14322

 

 42   .16721 .15845 .15025

 

 43   .17496 .16601 .15762

 

 44   .18305 .17391 .16534

 

 45   .19145 .18213 .17338

 

 46   .20018 .19068 .18174

 

 47   .20919 .19952 .19041

 

 48   .21852 .20868 .19941

 

 49   .22817 .21817 .20873

 

 50   .23814 .22799 .21839

 

 51   .24845 .23815 .22840

 

 52   .25904 .24861 .23872

 

 53   .26993 .25937 .24934

 

 54   .28110 .27042 .26026

 

 55   .29256 .28177 .27149

 

 56   .30431 .29342 .28303

 

 57   .31634 .30536 .29488

 

 58   .32862 .31756 .30699

 

 59   .34109 .32996 .31932

 

 60   .35375 .34257 .33186

 

 61   .36662 .35540 .34463

 

 62   .37974 .36848 .35767

 

 63   .39311 .38184 .37100

 

 64   .40671 .39544 .38458

 

 65   .42054 .40927 .39841

 

 66   .43461 .42337 .41252

 

 67   .44898 .43778 .42696

 

 68   .46360 .45246 .44169

 

 69   .47844 .46738 .45666

 

 70   .49342 .48245 .47181

 

 71   .50847 .49761 .48707

 

 72   .52357 .51283 .50239

 

 73   .53866 .52806 .51774

 

 74   .55380 .54335 .53316

 

 75   .56904 .55875 .54872

 

 76   .58443 .57432 .56446

 

 77   .59995 .59005 .58037

 

 78   .61558 .60590 .59643

 

 79   .63123 .62178 .61253

 

 80   .64676 .63755 .62853

 

 81   .66205 .65310 .64433

 

 82   .67705 .66837 .65984

 

 83   .69175 .68333 .67506

 

 84   .70624 .69810 .69010

 

 85   .72061 .71276 .70503

 

 86   .73474 .72719 .71974

 

 87   .74844 .74118 .73402

 

 88   .76169 .75473 .74786

 

 89   .77450 .76783 .76125

 

 90   .78685 .78048 .77418

 

 91   .79855 .79246 .78645

 

 92   .80937 .80356 .79780

 

 93   .81936 .81379 .80829

 

 94   .82865 .82333 .81806

 

 95   .83746 .83237 .82733

 

 96   .84575 .84088 .83605

 

 97   .85341 .84875 .84413

 

 98   .86061 .85614 .85171

 

 99   .86763 .86336 .85911

 

 100   .87445 .87037 .86632

 

 101   .88118 .87729 .87342

 

 102   .88778 .88408 .88040

 

 103   .89432 .89081 .88732

 

 104   .90131 .89800 .89471

 

 105   .90813 .90502 .90193

 

 106   .91689 .91405 .91122

 

 107   .92750 .92499 .92249

 

 108   .94396 .94199 .94002

 

 109   .97200 .97100 .97000

 

 _____________________________________________________________________

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE     6.2%   6.4%   6.6%   6.8%   7.0%   7.2%   7.4%

 

 =====================================================================

 

 0   .02693 .02534 .02395 .02271 .02161 .02063 .01976

 

 1   .01922 .01756 .01610 .01480 .01365 .01263 .01171

 

 2   .01975 .01802 .01650 .01514 .01393 .01286 .01190

 

 3   .02056 .01876 .01717 .01575 .01449 .01336 .01235

 

 4   .02155 .01967 .01800 .01652 .01520 .01401 .01296

 

 5   .02266 .02071 .01896 .01741 .01603 .01479 .01368

 

 6   .02389 .02184 .02003 .01841 .01696 .01566 .01450

 

 7   .02522 .02309 .02120 .01950 .01799 .01663 .01540

 

 8   .02665 .02444 .02246 .02069 .01910 .01768 .01640

 

 9   .02821 .02590 .02384 .02199 .02033 .01884 .01750

 

 10   .02990 .02750 .02535 .02342 .02169 .02013 .01872

 

 11   .03172 .02922 .02698 .02497 .02316 .02153 .02006

 

 12   .03365 .03106 .02872 .02663 .02474 .02303 .02149

 

 13   .03566 .03297 .03054 .02835 .02638 .02460 .02299

 

 14   .03770 .03490 .03237 .03010 .02804 .02619 .02450

 

 15   .03973 .03682 .03419 .03182 .02968 .02775 .02599

 

 16   .04173 .03871 .03598 .03352 .03129 .02926 .02743

 

 17   .04372 .04059 .03775 .03519 .03287 .03076 .02884

 

 18   .04573 .04248 .03953 .03686 .03444 .03224 .03024

 

 19   .04780 .04443 .04137 .03859 .03607 .03378 .03169

 

 20   .04997 .04647 .04329 .04040 .03778 .03539 .03321

 

 21   .05226 .04862 .04532 .04232 .03958 .03709 .03481

 

 22   .05465 .05088 .04745 .04432 .04148 .03888 .03650

 

 23   .05716 .05325 .04969 .04645 .04348 .04077 .03830

 

 24   .05983 .05578 .05208 .04871 .04562 .04280 .04021

 

 25   .06266 .05846 .05463 .05112 .04791 .04497 .04227

 

 26   .06566 .06131 .05734 .05369 .05035 .04729 .04448

 

 27   .06887 .06436 .06024 .05646 .05298 .04979 .04686

 

 28   .07225 .06758 .06331 .05938 .05577 .05245 .04940

 

 29   .07581 .07099 .06656 .06248 .05873 .05528 .05210

 

 30   .07956 .07457 .06998 .06575 .06186 .05827 .05495

 

 31   .08348 .07833 .07358 .06920 .06515 .06142 .05797

 

 32   .08761 .08228 .07736 .07282 .06863 .06475 .06116

 

 33   .09195 .08645 .08136 .07666 .07231 .06828 .06454

 

 34   .09651 .09082 .08557 .08070 .07619 .07200 .06812

 

 35   .10131 .09545 .09002 .08498 .08030 .07596 .07193

 

 36   .10635 .10031 .09470 .08949 .08465 .08015 .07596

 

 37   .11165 .10542 .09963 .09424 .08923 .08457 .08022

 

 38   .11722 .11081 .10484 .09927 .09409 .08926 .08475

 

 39   .12308 .11648 .11032 .10458 .09922 .09422 .08955

 

 40   .12925 .12246 .11612 .11020 .10466 .09949 .09465

 

 41   .13575 .12877 .12225 .11614 .11043 .10508 .10007

 

 42   .14259 .13542 .12871 .12243 .11654 .11101 .10583

 

 43   .14977 .14242 .13552 .12905 .12298 .11729 .11193

 

 44   .15731 .14976 .14269 .13604 .12979 .12391 .11838

 

 45   .16516 .15743 .15017 .14334 .13691 .13086 .12516

 

 46   .17334 .16544 .15800 .15099 .14438 .13816 .13228

 

 47   .18184 .17375 .16613 .15895 .15217 .14576 .13972

 

 48   .19066 .18240 .17461 .16724 .16029 .15371 .14749

 

 49   .19981 .19138 .18342 .17588 .16875 .16201 .15562

 

 50   .20931 .20072 .19259 .18489 .17759 .17067 .16412

 

 51   .21917 .21042 .20212 .19426 .18679 .17971 .17299

 

 52   .22933 .22043 .21198 .20395 .19633 .18909 .18220

 

 53   .23981 .23076 .22216 .21399 .20621 .19881 .19176

 

 54   .25060 .24141 .23267 .22434 .21642 .20886 .20166

 

 55   .26171 .25239 .24351 .23504 .22697 .21927 .21192

 

 56   .27313 .26369 .25468 .24608 .23787 .23003 .22254

 

 57   .28487 .27531 .26618 .25746 .24912 .24114 .23351

 

 58   .29688 .28722 .27798 .26914 .26067 .25257 .24481

 

 59   .30913 .29937 .29002 .28107 .27249 .26427 .25639

 

 60   .32159 .31175 .30231 .29325 .28457 .27623 .26823

 

 61   .33429 .32437 .31485 .30571 .29692 .28848 .28037

 

 62   .34728 .33730 .32770 .31847 .30960 .30106 .29285

 

 63   .36057 .35053 .34087 .33157 .32262 .31400 .30569

 

 64   .37412 .36404 .35433 .34498 .33596 .32726 .31887

 

 65   .38794 .37783 .36809 .35868 .34961 .34085 .33239

 

 66   .40205 .39193 .38216 .37272 .36361 .35479 .34628

 

 67   .41650 .40639 .39661 .38715 .37800 .36915 .36059

 

 68   .43126 .42117 .41139 .40193 .39277 .38390 .37530

 

 69   .44628 .43622 .42648 .41703 .40787 .39898 .39037

 

 70   .46150 .45149 .44178 .43236 .42321 .41433 .40571

 

 71   .47683 .46689 .45723 .44785 .43873 .42987 .42126

 

 72   .49225 .48238 .47279 .46346 .45439 .44556 .43697

 

 73   .50770 .49793 .48841 .47915 .47013 .46135 .45280

 

 74   .52324 .51358 .50416 .49498 .48603 .47731 .46880

 

 75   .53894 .52939 .52008 .51100 .50214 .49349 .48505

 

 76   .55483 .54543 .53624 .52728 .51852 .50996 .50160

 

 77   .57091 .56167 .55263 .54380 .53516 .52671 .51845

 

 78   .58716 .57809 .56922 .56053 .55203 .54372 .53557

 

 79   .60346 .59459 .58590 .57738 .56904 .56086 .55286

 

 80   .61969 .61102 .60252 .59419 .58601 .57800 .57014

 

 81   .63571 .62726 .61897 .61082 .60283 .59499 .58729

 

 82   .65146 .64324 .63515 .62722 .61942 .61176 .60423

 

 83   .66693 .65893 .65108 .64335 .63575 .62828 .62093

 

 84   .68222 .67447 .66684 .65934 .65195 .64468 .63753

 

 85   .69742 .68993 .68255 .67528 .66812 .66106 .65411

 

 86   .71241 .70517 .69805 .69102 .68410 .67727 .67054

 

 87   .72696 .72000 .71313 .70635 .69967 .69307 .68656

 

 88   .74108 .73438 .72777 .72125 .71480 .70845 .70217

 

 89   .75475 .74832 .74198 .73571 .72951 .72339 .71734

 

 90   .76796 .76180 .75572 .74971 .74376 .73788 .73207

 

 91   .78049 .77460 .76878 .76302 .75732 .75168 .74610

 

 92   .79211 .78647 .78089 .77537 .76990 .76449 .75913

 

 93   .80283 .79743 .79208 .78679 .78154 .77634 .77119

 

 94   .81283 .80765 .80253 .79744 .79240 .78741 .78247

 

 95   .82233 .81737 .81245 .80757 .80274 .79795 .79320

 

 96   .83126 .82651 .82180 .81712 .81248 .80788 .80332

 

 97   .83953 .83498 .83046 .82597 .82152 .81710 .81271

 

 98   .84731 .84294 .83860 .83429 .83002 .82577 .82155

 

 99   .85490 .85071 .84656 .84243 .83832 .83425 .83020

 

 100   .86229 .85828 .85431 .85035 .84642 .84252 .83864

 

 101   .86958 .86575 .86195 .85818 .85442 .85069 .84698

 

 102   .87674 .87310 .86947 .86587 .86229 .85873 .85518

 

 103   .88384 .88038 .87694 .87351 .87010 .86671 .86334

 

 104   .89143 .88817 .88492 .88169 .87847 .87526 .87207

 

 105   .89885 .89578 .89272 .88967 .88664 .88361 .88060

 

 106   .90840 .90559 .90278 .89999 .89720 .89442 .89165

 

 107   .91999 .91750 .91501 .91253 .91005 .90758 .90511

 

 108   .93805 .93609 .93412 .93216 .93020 .92824 .92629

 

 109   .96900 .96800 .96700 .96600 .96500 .96400 .96300

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE     7.6%   7.8%   8.0%

 

 =====================================================================

 

 0   .01898 .01828 .01765

 

 1   .01090 .01017 .00951

 

 2   .01104 .01028 .00959

 

 3   .01145 .01064 .00992

 

 4   .01201 .01116 .01039

 

 5   .01269 .01179 .01098

 

 6   .01345 .01251 .01166

 

 7   .01431 .01332 .01242

 

 8   .01524 .01420 .01326

 

 9   .01629 .01520 .01421

 

 10   .01745 .01631 .01526

 

 11   .01872 .01752 .01643

 

 12   .02010 .01884 .01769

 

 13   .02154 .02021 .01901

 

 14   .02298 .02159 .02033

 

 15   .02439 .02294 .02162

 

 16   .02576 .02424 .02286

 

 17   .02710 .02551 .02406

 

 18   .02842 .02676 .02524

 

 19   .02978 .02804 .02646

 

 20   .03122 .02940 .02773

 

 21   .03274 .03083 .02909

 

 22   .03433 .03234 .03052

 

 23   .03603 .03394 .03203

 

 24   .03784 .03566 .03367

 

 25   .03980 .03752 .03543

 

 26   .04189 .03951 .03732

 

 27   .04416 .04168 .03939

 

 28   .04658 .04398 .04159

 

 29   .04916 .04645 .04394

 

 30   .05189 .04906 .04644

 

 31   .05478 .05182 .04908

 

 32   .05783 .05475 .05189

 

 33   .06108 .05786 .05488

 

 34   .06452 .06117 .05805

 

 35   .06818 .06469 .06144

 

 36   .07206 .06842 .06503

 

 37   .07617 .07238 .06885

 

 38   .08054 .07661 .07293

 

 39   .08518 .08109 .07726

 

 40   .09011 .08587 .08189

 

 41   .09537 .09097 .08683

 

 42   .10097 .09640 .09210

 

 43   .10690 .10217 .09771

 

 44   .11318 .10828 .10367

 

 45   .11979 .11472 .10994

 

 46   .12674 .12150 .11656

 

 47   .13400 .12860 .12349

 

 48   .14161 .13604 .13077

 

 49   .14956 .14383 .13839

 

 50   .15790 .15199 .14639

 

 51   .16660 .16054 .15477

 

 52   .17566 .16943 .16350

 

 53   .18506 .17867 .17258

 

 54   .19480 .18826 .18201

 

 55   .20491 .19821 .19182

 

 56   .21538 .20854 .20199

 

 57   .22621 .21923 .21254

 

 58   .23738 .23025 .22343

 

 59   .24882 .24157 .23461

 

 60   .26055 .25317 .24608

 

 61   .27257 .26507 .25786

 

 62   .28495 .27734 .27001

 

 63   .29769 .28998 .28255

 

 64   .31078 .30298 .29545

 

 65   .32422 .31633 .30871

 

 66   .33804 .33008 .32238

 

 67   .35230 .34428 .33651

 

 68   .36697 .35890 .35108

 

 69   .38201 .37391 .36604

 

 70   .39735 .38922 .38132

 

 71   .41290 .40476 .39685

 

 72   .42862 .42048 .41257

 

 73   .44447 .43635 .42844

 

 74   .46051 .45242 .44454

 

 75   .47681 .46877 .46092

 

 76   .49344 .48546 .47766

 

 77   .51038 .50247 .49475

 

 78   .52760 .51980 .51216

 

 79   .54501 .53732 .52978

 

 80   .56243 .55487 .54745

 

 81   .57974 .57232 .56503

 

 82   .59683 .58957 .58242

 

 83   .61371 .60660 .59962

 

 84   .63049 .62356 .61674

 

 85   .64727 .64053 .63389

 

 86   .66390 .65736 .65091

 

 87   .68014 .67381 .66756

 

 88   .69597 .68985 .68380

 

 89   .71137 .70547 .69963

 

 90   .72633 .72065 .71503

 

 91   .74058 .73512 .72972

 

 92   .75383 .74858 .74338

 

 93   .76610 .76105 .75604

 

 94   .77756 .77270 .76789

 

 95   .78849 .78382 .77918

 

 96   .79880 .79431 .78985

 

 97   .80836 .80404 .79976

 

 98   .81737 .81321 .80908

 

 99   .82618 .82219 .81822

 

 100   .83478 .83095 .82714

 

 101   .84329 .83962 .83597

 

 102   .85166 .84815 .84466

 

 103   .85998 .85663 .85331

 

 104   .86889 .86573 .86258

 

 105   .87760 .87461 .87163

 

 106   .88888 .88613 .88338

 

 107   .90265 .90019 .89774

 

 108   .92434 .92239 .92044

 

 109   .96200 .96100 .96000

 

 _____________________________________________________________________

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE     8.2%   8.4%   8.6%   8.8%   9.0%   9.2%   9.4%

 

 =====================================================================

 

 0   .01709 .01658 .01612 .01570 .01532 .01497 .01466

 

 1   .00892 .00839 .00791 .00747 .00708 .00672 .00639

 

 2   .00896 .00840 .00790 .00744 .00702 .00664 .00629

 

 3   .00926 .00867 .00814 .00765 .00721 .00681 .00644

 

 4   .00970 .00908 .00851 .00800 .00753 .00711 .00672

 

 5   .01026 .00960 .00900 .00846 .00796 .00751 .00710

 

 6   .01089 .01019 .00956 .00899 .00846 .00799 .00755

 

 7   .01161 .01088 .01021 .00960 .00905 .00854 .00808

 

 8   .01241 .01163 .01093 .01029 .00970 .00917 .00867

 

 9   .01331 .01249 .01175 .01107 .01045 .00988 .00936

 

 10   .01432 .01346 .01268 .01196 .01131 .01071 .01016

 

 11   .01543 .01453 .01370 .01295 .01226 .01162 .01104

 

 12   .01664 .01569 .01482 .01403 .01330 .01263 .01202

 

 13   .01791 .01691 .01600 .01516 .01440 .01369 .01304

 

 14   .01918 .01813 .01717 .01629 .01548 .01474 .01406

 

 15   .02041 .01931 .01831 .01738 .01653 .01576 .01504

 

 16   .02160 .02044 .01938 .01841 .01752 .01670 .01595

 

 17   .02274 .02152 .02041 .01940 .01846 .01760 .01680

 

 18   .02386 .02258 .02142 .02035 .01936 .01846 .01762

 

 19   .02500 .02367 .02245 .02132 .02029 .01933 .01845

 

 20   .02621 .02481 .02353 .02235 .02126 .02025 .01933

 

 21   .02749 .02603 .02468 .02344 .02229 .02124 .02026

 

 22   .02884 .02730 .02589 .02458 .02338 .02227 .02124

 

 23   .03028 .02867 .02718 .02581 .02454 .02337 .02229

 

 24   .03183 .03013 .02857 .02713 .02580 .02456 .02342

 

 25   .03350 .03172 .03008 .02857 .02717 .02587 .02467

 

 26   .03530 .03344 .03172 .03013 .02865 .02729 .02602

 

 27   .03727 .03532 .03351 .03183 .03028 .02885 .02751

 

 28   .03937 .03732 .03543 .03367 .03204 .03052 .02911

 

 29   .04162 .03947 .03748 .03564 .03392 .03233 .03084

 

 30   .04401 .04176 .03967 .03773 .03593 .03425 .03269

 

 31   .04654 .04419 .04200 .03996 .03807 .03630 .03466

 

 32   .04923 .04676 .04447 .04233 .04034 .03849 .03676

 

 33   .05210 .04952 .04711 .04487 .04278 .04083 .03901

 

 34   .05515 .05245 .04993 .04758 .04538 .04333 .04142

 

 35   .05841 .05558 .05295 .05048 .04818 .04603 .04401

 

 36   .06187 .05892 .05616 .05358 .05116 .04890 .04678

 

 37   .06555 .06247 .05958 .05688 .05435 .05198 .04975

 

 38   .06949 .06627 .06325 .06043 .05777 .05528 .05295

 

 39   .07368 .07032 .06717 .06421 .06143 .05882 .05637

 

 40   .07816 .07465 .07137 .06827 .06537 .06263 .06006

 

 41   .08295 .07930 .07587 .07264 .06960 .06674 .06405

 

 42   .08807 .08427 .08069 .07733 .07415 .07116 .06833

 

 43   .09352 .08957 .08585 .08233 .07902 .07589 .07294

 

 44   .09932 .09521 .09134 .08768 .08423 .08096 .07787

 

 45   .10543 .10117 .09715 .09334 .08974 .08634 .08311

 

 46   .11189 .10747 .10329 .09933 .09559 .09204 .08867

 

 47   .11866 .11408 .10974 .10564 .10174 .09805 .09454

 

 48   .12577 .12103 .11654 .11228 .10823 .10439 .10074

 

 49   .13323 .12833 .12368 .11926 .11506 .11107 .10728

 

 50   .14107 .13601 .13120 .12663 .12228 .11813 .11419

 

 51   .14928 .14407 .13910 .13437 .12987 .12558 .12149

 

 52   .15785 .15248 .14735 .14247 .13781 .13337 .12913

 

 53   .16678 .16124 .15597 .15093 .14612 .14153 .13714

 

 54   .17606 .17037 .16493 .15974 .15478 .15004 .14550

 

 55   .18570 .17986 .17428 .16893 .16382 .15893 .15424

 

 56   .19573 .18974 .18400 .17851 .17325 .16821 .16338

 

 57   .20613 .20000 .19412 .18848 .18307 .17789 .17291

 

 58   .21688 .21060 .20458 .19880 .19325 .18792 .18280

 

 59   .22793 .22151 .21535 .20943 .20374 .19827 .19301

 

 60   .23927 .23272 .22642 .22036 .21454 .20893 .20354

 

 61   .25092 .24425 .23782 .23163 .22567 .21993 .21440

 

 62   .26295 .25616 .24961 .24329 .23721 .23134 .22568

 

 63   .27538 .26847 .26180 .25537 .24916 .24316 .23738

 

 64   .28817 .28116 .27438 .26783 .26150 .25539 .24949

 

 65   .30134 .29423 .28735 .28069 .27426 .26803 .26201

 

 66   .31493 .30772 .30075 .29399 .28746 .28113 .27500

 

 67   .32899 .32170 .31464 .30780 .30118 .29475 .28852

 

 68   .34349 .33614 .32901 .32209 .31538 .30887 .30256

 

 69   .35841 .35100 .34381 .33683 .33005 .32346 .31707

 

 70   .37366 .36620 .35896 .35193 .34509 .33844 .33197

 

 71   .38916 .38167 .37440 .36732 .36043 .35372 .34720

 

 72   .40486 .39736 .39006 .38295 .37602 .36927 .36270

 

 73   .42074 .41323 .40591 .39878 .39182 .38504 .37843

 

 74   .43685 .42934 .42202 .41488 .40791 .40110 .39446

 

 75   .45326 .44577 .43846 .43132 .42435 .41754 .41088

 

 76   .47004 .46259 .45530 .44818 .44122 .43442 .42776

 

 77   .48718 .47979 .47255 .46547 .45853 .45175 .44511

 

 78   .50467 .49735 .49017 .48314 .47626 .46951 .46290

 

 79   .52239 .51515 .50806 .50110 .49427 .48758 .48102

 

 80   .54018 .53304 .52603 .51916 .51242 .50580 .49930

 

 81   .55788 .55085 .54396 .53718 .53053 .52399 .51757

 

 82   .57540 .56851 .56173 .55506 .54851 .54207 .53574

 

 83   .59274 .58598 .57933 .57279 .56635 .56001 .55378

 

 84   .61002 .60341 .59690 .59049 .58418 .57796 .57184

 

 85   .62734 .62090 .61454 .60828 .60211 .59603 .59004

 

 86   .64455 .63828 .63210 .62600 .61999 .61406 .60821

 

 87   .66139 .65531 .64930 .64337 .63752 .63175 .62605

 

 88   .67783 .67194 .66612 .66037 .65469 .64908 .64354

 

 89   .69387 .68817 .68254 .67698 .67148 .66605 .66068

 

 90   .70947 .70398 .69855 .69318 .68786 .68261 .67742

 

 91   .72437 .71908 .71385 .70867 .70354 .69847 .69345

 

 92   .73823 .73314 .72810 .72310 .71816 .71326 .70841

 

 93   .75109 .74618 .74132 .73650 .73173 .72700 .72232

 

 94   .76312 .75839 .75370 .74905 .74445 .73988 .73536

 

 95   .77459 .77004 .76552 .76104 .75660 .75220 .74783

 

 96   .78543 .78105 .77670 .77238 .76810 .76386 .75964

 

 97   .79550 .79128 .78709 .78293 .77880 .77470 .77063

 

 98   .80498 .80091 .79687 .79286 .78888 .78492 .78099

 

 99   .81428 .81036 .80647 .80261 .79877 .79496 .79117

 

 100   .82336 .81959 .81586 .81214 .80845 .80478 .80113

 

 101   .83234 .82873 .82515 .82158 .81804 .81451 .81101

 

 102   .84119 .83774 .83431 .83089 .82750 .82412 .82076

 

 103   .84999 .84670 .84342 .84016 .83691 .83368 .83046

 

 104   .85944 .85632 .85321 .85011 .84703 .84396 .84090

 

 105   .86866 .86570 .86276 .85982 .85690 .85399 .85109

 

 106   .88065 .87792 .87520 .87248 .86978 .86708 .86440

 

 107   .89530 .89286 .89042 .88799 .88557 .88315 .88073

 

 108   .91849 .91654 .91460 .91266 .91072 .90879 .90685

 

 109   .95900 .95800 .95700 .95600 .95500 .95400 .95300

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE     9.6%   9.8%  10.0%

 

 =====================================================================

 

 0   .01437 .01410 .01386

 

 1   .00609 .00582 .00557

 

 2   .00598 .00569 .00542

 

 3   .00611 .00580 .00552

 

 4   .00636 .00604 .00574

 

 5   .00672 .00637 .00606

 

 6   .00715 .00678 .00644

 

 7   .00765 .00726 .00690

 

 8   .00822 .00781 .00743

 

 9   .00889 .00845 .00804

 

 10   .00965 .00918 .00875

 

 11   .01051 .01001 .00956

 

 12   .01145 .01093 .01045

 

 13   .01245 .01190 .01139

 

 14   .01343 .01285 .01231

 

 15   .01437 .01376 .01320

 

 16   .01525 .01460 .01401

 

 17   .01607 .01539 .01476

 

 18   .01685 .01613 .01547

 

 19   .01764 .01689 .01619

 

 20   .01847 .01768 .01694

 

 21   .01936 .01852 .01774

 

 22   .02029 .01940 .01859

 

 23   .02128 .02035 .01949

 

 24   .02236 .02138 .02047

 

 25   .02355 .02251 .02155

 

 26   .02484 .02375 .02273

 

 27   .02627 .02511 .02404

 

 28   .02780 .02658 .02545

 

 29   .02946 .02818 .02698

 

 30   .03124 .02988 .02861

 

 31   .03312 .03169 .03035

 

 32   .03514 .03363 .03221

 

 33   .03731 .03571 .03422

 

 34   .03962 .03794 .03637

 

 35   .04212 .04035 .03869

 

 36   .04480 .04293 .04118

 

 37   .04766 .04570 .04385

 

 38   .05075 .04868 .04674

 

 39   .05406 .05189 .04984

 

 40   .05764 .05535 .05320

 

 41   .06150 .05910 .05683

 

 42   .06567 .06315 .06077

 

 43   .07014 .06750 .06500

 

 44   .07495 .07218 .06956

 

 45   .08005 .07716 .07441

 

 46   .08548 .08245 .07958

 

 47   .09121 .08805 .08504

 

 48   .09727 .09397 .09083

 

 49   .10366 .10022 .09695

 

 50   .11043 .10685 .10344

 

 51   .11758 .11386 .11031

 

 52   .12508 .12122 .11752

 

 53   .13294 .12893 .12509

 

 54   .14116 .13700 .13302

 

 55   .14976 .14546 .14134

 

 56   .15875 .15430 .15004

 

 57   .16814 .16355 .15914

 

 58   .17788 .17316 .16861

 

 59   .18795 .18309 .17840

 

 60   .19834 .19334 .18851

 

 61   .20907 .20393 .19898

 

 62   .22021 .21494 .20985

 

 63   .23179 .22639 .22117

 

 64   .24377 .23825 .23291

 

 65   .25618 .25054 .24508

 

 66   .26906 .26331 .25774

 

 67   .28248 .27663 .27095

 

 68   .29643 .29047 .28469

 

 69   .31085 .30481 .29894

 

 70   .32568 .31957 .31362

 

 71   .34084 .33466 .32864

 

 72   .35629 .35005 .34396

 

 73   .37198 .36568 .35955

 

 74   .38798 .38165 .37547

 

 75   .40438 .39802 .39181

 

 76   .42125 .41488 .40865

 

 77   .43861 .43225 .42601

 

 78   .45643 .45008 .44386

 

 79   .47459 .46828 .46209

 

 80   .49292 .48666 .48052

 

 81   .51126 .50507 .49898

 

 82   .52951 .52339 .51737

 

 83   .54765 .54161 .53567

 

 84   .56582 .55988 .55403

 

 85   .58414 .57832 .57258

 

 86   .60244 .59675 .59113

 

 87   .62043 .61488 .60939

 

 88   .63807 .63267 .62733

 

 89   .65537 .65012 .64493

 

 90   .67228 .66719 .66217

 

 91   .68848 .68357 .67870

 

 92   .70361 .69886 .69415

 

 93   .71768 .71308 .70852

 

 94   .73087 .72643 .72202

 

 95   .74350 .73920 .73494

 

 96   .75546 .75131 .74720

 

 97   .76659 .76258 .75860

 

 98   .77709 .77322 .76937

 

 99   .78741 .78367 .77995

 

 100   .79751 .79390 .79032

 

 101   .80753 .80406 .80062

 

 102   .81742 .81409 .81078

 

 103   .82726 .82408 .82091

 

 104   .83786 .83483 .83182

 

 105   .84820 .84532 .84245

 

 106   .86172 .85905 .85638

 

 107   .87833 .87592 .87352

 

 108   .90492 .90299 .90106

 

 109   .95200 .95100 .95000

 

 _____________________________________________________________________

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE    10.2%  10.4%  10.6%  10.8%  11.0%  11.2%  11.4%

 

 =====================================================================

 

 0   .01363 .01342 .01323 .01305 .01288 .01272 .01258

 

 1   .00534 .00512 .00493 .00474 .00458 .00442 .00427

 

 2   .00518 .00495 .00474 .00455 .00437 .00421 .00405

 

 3   .00526 .00502 .00480 .00459 .00440 .00422 .00406

 

 4   .00546 .00521 .00497 .00475 .00455 .00436 .00419

 

 5   .00576 .00549 .00524 .00501 .00479 .00459 .00440

 

 6   .00613 .00584 .00557 .00532 .00509 .00488 .00468

 

 7   .00657 .00626 .00598 .00571 .00547 .00524 .00502

 

 8   .00707 .00675 .00644 .00616 .00590 .00565 .00542

 

 9   .00766 .00732 .00699 .00669 .00641 .00615 .00591

 

 10   .00835 .00798 .00764 .00732 .00702 .00675 .00649

 

 11   .00913 .00874 .00838 .00804 .00772 .00743 .00715

 

 12   .01000 .00959 .00920 .00884 .00851 .00819 .00790

 

 13   .01091 .01048 .01007 .00969 .00933 .00900 .00869

 

 14   .01181 .01135 .01092 .01052 .01014 .00979 .00947

 

 15   .01267 .01218 .01173 .01130 .01091 .01054 .01019

 

 16   .01345 .01294 .01246 .01201 .01160 .01121 .01084

 

 17   .01418 .01364 .01313 .01266 .01222 .01181 .01143

 

 18   .01486 .01429 .01375 .01326 .01279 .01236 .01196

 

 19   .01554 .01494 .01438 .01385 .01336 .01291 .01248

 

 20   .01626 .01562 .01503 .01448 .01396 .01348 .01303

 

 21   .01702 .01635 .01573 .01514 .01460 .01409 .01361

 

 22   .01782 .01711 .01645 .01584 .01526 .01472 .01422

 

 23   .01868 .01793 .01724 .01658 .01597 .01540 .01487

 

 24   .01962 .01883 .01809 .01740 .01675 .01615 .01558

 

 25   .02065 .01981 .01903 .01830 .01762 .01698 .01638

 

 26   .02178 .02089 .02006 .01929 .01856 .01789 .01725

 

 27   .02303 .02209 .02122 .02040 .01963 .01891 .01824

 

 28   .02439 .02339 .02247 .02160 .02079 .02002 .01931

 

 29   .02585 .02480 .02382 .02290 .02204 .02123 .02047

 

 30   .02742 .02631 .02527 .02430 .02339 .02253 .02172

 

 31   .02910 .02793 .02683 .02579 .02482 .02391 .02306

 

 32   .03089 .02965 .02849 .02739 .02636 .02540 .02449

 

 33   .03282 .03151 .03028 .02912 .02803 .02701 .02604

 

 34   .03489 .03350 .03220 .03097 .02982 .02873 .02771

 

 35   .03713 .03567 .03429 .03299 .03177 .03061 .02953

 

 36   .03953 .03798 .03653 .03515 .03386 .03263 .03148

 

 37   .04211 .04048 .03894 .03748 .03611 .03481 .03359

 

 38   .04490 .04318 .04155 .04001 .03856 .03719 .03589

 

 39   .04791 .04609 .04437 .04274 .04120 .03975 .03837

 

 40   .05116 .04924 .04742 .04571 .04408 .04254 .04108

 

 41   .05469 .05267 .05075 .04894 .04722 .04559 .04405

 

 42   .05851 .05638 .05436 .05245 .05063 .04891 .04728

 

 43   .06263 .06039 .05827 .05625 .05433 .05252 .05079

 

 44   .06707 .06472 .06248 .06035 .05834 .05642 .05459

 

 45   .07180 .06933 .06698 .06474 .06262 .06059 .05867

 

 46   .07685 .07425 .07178 .06943 .06720 .06507 .06304

 

 47   .08218 .07946 .07687 .07440 .07205 .06981 .06768

 

 48   .08784 .08499 .08228 .07969 .07722 .07487 .07262

 

 49   .09382 .09085 .08801 .08530 .08271 .08024 .07788

 

 50   .10018 .09707 .09410 .09127 .08856 .08597 .08349

 

 51   .10691 .10367 .10057 .09761 .09477 .09206 .08946

 

 52   .11399 .11061 .10738 .10429 .10132 .09849 .09577

 

 53   .12142 .11791 .11454 .11132 .10823 .10526 .10242

 

 54   .12921 .12556 .12206 .11870 .11548 .11239 .10942

 

 55   .13738 .13359 .12995 .12646 .12311 .11989 .11679

 

 56   .14595 .14202 .13824 .13462 .13113 .12778 .12456

 

 57   .15491 .15084 .14693 .14317 .13955 .13607 .13272

 

 58   .16424 .16004 .15599 .15209 .14834 .14473 .14125

 

 59   .17390 .16955 .16537 .16134 .15746 .15371 .15010

 

 60   .18387 .17939 .17507 .17091 .16689 .16302 .15927

 

 61   .19420 .18958 .18513 .18084 .17669 .17268 .16881

 

 62   .20494 .20020 .19561 .19119 .18691 .18277 .17877

 

 63   .21613 .21126 .20654 .20199 .19758 .19331 .18918

 

 64   .22774 .22274 .21791 .21322 .20869 .20429 .20004

 

 65   .23979 .23467 .22971 .22490 .22025 .21573 .21135

 

 66   .25233 .24709 .24202 .23709 .23231 .22767 .22318

 

 67   .26543 .26009 .25489 .24985 .24496 .24021 .23560

 

 68   .27908 .27363 .26833 .26319 .25819 .25332 .24860

 

 69   .29324 .28769 .28230 .27705 .27195 .26699 .26216

 

 70   .30783 .30219 .29671 .29137 .28618 .28112 .27619

 

 71   .32277 .31706 .31150 .30608 .30079 .29564 .29063

 

 72   .33803 .33225 .32661 .32112 .31575 .31052 .30542

 

 73   .35356 .34772 .34201 .33645 .33101 .32571 .32053

 

 74   .36943 .36354 .35778 .35215 .34666 .34129 .33604

 

 75   .38574 .37980 .37400 .36833 .36278 .35735 .35205

 

 76   .40256 .39660 .39076 .38505 .37947 .37400 .36864

 

 77   .41991 .41394 .40808 .40235 .39674 .39124 .38585

 

 78   .43777 .43180 .42594 .42020 .41457 .40906 .40365

 

 79   .45602 .45007 .44422 .43849 .43287 .42735 .42193

 

 80   .47449 .46856 .46275 .45704 .45143 .44592 .44051

 

 81   .49300 .48712 .48134 .47566 .47008 .46460 .45921

 

 82   .51145 .50563 .49990 .49427 .48873 .48328 .47792

 

 83   .52983 .52407 .51841 .51284 .50735 .50195 .49663

 

 84   .54828 .54261 .53702 .53151 .52609 .52075 .51549

 

 85   .56693 .56135 .55586 .55044 .54510 .53983 .53464

 

 86   .58560 .58013 .57474 .56943 .56418 .55901 .55390

 

 87   .60398 .59864 .59337 .58817 .58303 .57795 .57294

 

 88   .62206 .61685 .61170 .60662 .60159 .59663 .59173

 

 89   .63980 .63474 .62972 .62477 .61987 .61503 .61024

 

 90   .65719 .65227 .64741 .64259 .63783 .63312 .62846

 

 91   .67388 .66912 .66440 .65973 .65511 .65053 .64600

 

 92   .68949 .68487 .68030 .67577 .67129 .66685 .66245

 

 93   .70401 .69954 .69511 .69072 .68637 .68205 .67778

 

 94   .71765 .71332 .70902 .70477 .70055 .69636 .69222

 

 95   .73072 .72653 .72237 .71825 .71416 .71010 .70608

 

 96   .74311 .73906 .73504 .73105 .72709 .72316 .71926

 

 97   .75465 .75073 .74684 .74297 .73914 .73533 .73155

 

 98   .76555 .76175 .75798 .75424 .75052 .74683 .74317

 

 99   .77626 .77260 .76895 .76534 .76174 .75817 .75462

 

 100   .78676 .78323 .77971 .77622 .77274 .76929 .76586

 

 101   .79719 .79379 .79040 .78703 .78368 .78035 .77704

 

 102   .80749 .80422 .80096 .79772 .79450 .79130 .78811

 

 103   .81775 .81461 .81149 .80838 .80529 .80221 .79914

 

 104   .82881 .82582 .82284 .81988 .81693 .81399 .81106

 

 105   .83959 .83674 .83391 .83108 .82826 .82546 .82267

 

 106   .85373 .85108 .84844 .84581 .84319 .84058 .83797

 

 107   .87113 .86875 .86636 .86399 .86161 .85925 .85689

 

 108   .89913 .89721 .89529 .89337 .89145 .88953 .88762

 

 109   .94900 .94800 .94700 .94600 .94500 .94400 .94300

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE    11.6%  11.8%  12.0%

 

 =====================================================================

 

 0   .01244 .01231 .01219

 

 1   .00414 .00401 .00389

 

 2   .00391 .00377 .00365

 

 3   .00391 .00376 .00363

 

 4   .00402 .00387 .00373

 

 5   .00423 .00406 .00391

 

 6   .00449 .00432 .00415

 

 7   .00482 .00464 .00446

 

 8   .00521 .00501 .00482

 

 9   .00568 .00547 .00527

 

 10   .00624 .00602 .00580

 

 11   .00689 .00665 .00642

 

 12   .00762 .00737 .00712

 

 13   .00840 .00813 .00787

 

 14   .00916 .00887 .00860

 

 15   .00987 .00956 .00928

 

 16   .01050 .01018 .00988

 

 17   .01107 .01073 .01041

 

 18   .01158 .01122 .01088

 

 19   .01208 .01170 .01135

 

 20   .01260 .01220 .01183

 

 21   .01316 .01274 .01235

 

 22   .01374 .01330 .01288

 

 23   .01437 .01390 .01345

 

 24   .01505 .01455 .01408

 

 25   .01581 .01528 .01478

 

 26   .01665 .01609 .01556

 

 27   .01760 .01700 .01644

 

 28   .01863 .01800 .01740

 

 29   .01976 .01908 .01845

 

 30   .02096 .02025 .01957

 

 31   .02225 .02149 .02077

 

 32   .02363 .02282 .02206

 

 33   .02513 .02427 .02346

 

 34   .02674 .02583 .02497

 

 35   .02850 .02753 .02661

 

 36   .03039 .02936 .02838

 

 37   .03243 .03134 .03030

 

 38   .03466 .03350 .03239

 

 39   .03707 .03583 .03466

 

 40   .03970 .03839 .03714

 

 41   .04258 .04119 .03987

 

 42   .04573 .04425 .04285

 

 43   .04915 .04759 .04610

 

 44   .05286 .05121 .04963

 

 45   .05684 .05509 .05342

 

 46   .06110 .05926 .05750

 

 47   .06564 .06369 .06183

 

 48   .07047 .06842 .06646

 

 49   .07562 .07346 .07140

 

 50   .08112 .07885 .07667

 

 51   .08697 .08459 .08231

 

 52   .09316 .09066 .08826

 

 53   .09969 .09707 .09456

 

 54   .10657 .10383 .10120

 

 55   .11382 .11096 .10820

 

 56   .12146 .11847 .11560

 

 57   .12949 .12638 .12338

 

 58   .13789 .13465 .13153

 

 59   .14662 .14325 .14001

 

 60   .15566 .15217 .14880

 

 61   .16506 .16145 .15795

 

 62   .17490 .17115 .16753

 

 63   .18518 .18131 .17757

 

 64   .19592 .19192 .18805

 

 65   .20710 .20299 .19899

 

 66   .21881 .21457 .21045

 

 67   .23111 .22676 .22252

 

 68   .24400 .23954 .23519

 

 69   .25746 .25288 .24843

 

 70   .27139 .26672 .26216

 

 71   .28573 .28096 .27631

 

 72   .30044 .29559 .29084

 

 73   .31547 .31053 .30571

 

 74   .33091 .32590 .32100

 

 75   .34686 .34178 .33681

 

 76   .36340 .35827 .35324

 

 77   .38056 .37539 .37032

 

 78   .39834 .39314 .38803

 

 79   .41661 .41139 .40627

 

 80   .43519 .42997 .42484

 

 81   .45391 .44870 .44357

 

 82   .47265 .46746 .46235

 

 83   .49139 .48624 .48116

 

 84   .51030 .50519 .50015

 

 85   .52952 .52447 .51949

 

 86   .54886 .54389 .53898

 

 87   .56799 .56310 .55828

 

 88   .58688 .58209 .57736

 

 89   .60551 .60083 .59620

 

 90   .62385 .61928 .61477

 

 91   .64152 .63708 .63269

 

 92   .65809 .65378 .64950

 

 93   .67355 .66935 .66519

 

 94   .68810 .68403 .67998

 

 95   .70209 .69813 .69421

 

 96   .71539 .71155 .70774

 

 97   .72780 .72407 .72037

 

 98   .73953 .73591 .73232

 

 99   .75109 .74759 .74411

 

 100   .76245 .75906 .75569

 

 101   .77375 .77048 .76722

 

 102   .78494 .78178 .77864

 

 103   .79609 .79306 .79003

 

 104   .80815 .80525 .80236

 

 105   .81988 .81711 .81435

 

 106   .83537 .83278 .83020

 

 107   .85453 .85218 .84984

 

 108   .88571 .88380 .88189

 

 109   .94200 .94100 .94000

 

 _____________________________________________________________________

 

 ADJUSTED PAYOUT RATE

 

 =====================================================================

 

 AGE    12.2%  12.4%  12.6%  12.8%  13.0%  13.2%  13.4%

 

 =====================================================================

 

 0   .01208 .01197 .01187 .01177 .01168 .01159 .01151

 

 1   .00378 .00367 .00358 .00348 .00340 .00331 .00323

 

 2   .00353 .00342 .00331 .00322 .00312 .00304 .00295

 

 3   .00350 .00339 .00327 .00317 .00307 .00298 .00289

 

 4   .00359 .00347 .00335 .00324 .00313 .00303 .00294

 

 5   .00377 .00363 .00351 .00339 .00327 .00317 .00306

 

 6   .00400 .00386 .00372 .00359 .00347 .00335 .00325

 

 7   .00430 .00414 .00400 .00386 .00373 .00360 .00349

 

 8   .00465 .00448 .00432 .00417 .00403 .00390 .00378

 

 9   .00508 .00490 .00473 .00457 .00442 .00428 .00414

 

 10   .00560 .00541 .00523 .00506 .00490 .00475 .00460

 

 11   .00620 .00600 .00581 .00563 .00546 .00529 .00514

 

 12   .00689 .00668 .00647 .00628 .00610 .00593 .00576

 

 13   .00763 .00740 .00718 .00698 .00678 .00660 .00642

 

 14   .00834 .00810 .00787 .00766 .00745 .00726 .00707

 

 15   .00901 .00875 .00851 .00828 .00807 .00786 .00767

 

 16   .00959 .00932 .00907 .00883 .00860 .00839 .00818

 

 17   .01011 .00983 .00956 .00930 .00907 .00884 .00862

 

 18   .01057 .01027 .00999 .00972 .00947 .00923 .00900

 

 19   .01101 .01070 .01040 .01012 .00985 .00960 .00936

 

 20   .01148 .01115 .01083 .01054 .01026 .00999 .00974

 

 21   .01197 .01162 .01129 .01098 .01068 .01040 .01014

 

 22   .01249 .01211 .01176 .01143 .01112 .01082 .01054

 

 23   .01304 .01264 .01227 .01192 .01159 .01127 .01098

 

 24   .01364 .01322 .01283 .01246 .01210 .01177 .01145

 

 25   .01431 .01387 .01345 .01306 .01268 .01233 .01199

 

 26   .01506 .01459 .01415 .01373 .01333 .01295 .01260

 

 27   .01591 .01541 .01494 .01449 .01407 .01367 .01329

 

 28   .01684 .01631 .01580 .01533 .01488 .01445 .01405

 

 29   .01785 .01728 .01675 .01624 .01577 .01531 .01488

 

 30   .01893 .01833 .01776 .01723 .01672 .01623 .01578

 

 31   .02010 .01946 .01885 .01828 .01773 .01722 .01673

 

 32   .02134 .02066 .02002 .01940 .01883 .01828 .01776

 

 33   .02270 .02197 .02128 .02063 .02002 .01943 .01887

 

 34   .02415 .02338 .02265 .02195 .02130 .02067 .02008

 

 35   .02574 .02492 .02414 .02340 .02270 .02203 .02140

 

 36   .02746 .02658 .02575 .02496 .02422 .02350 .02283

 

 37   .02932 .02838 .02750 .02666 .02586 .02510 .02438

 

 38   .03135 .03035 .02941 .02851 .02766 .02685 .02608

 

 39   .03355 .03249 .03149 .03053 .02962 .02876 .02793

 

 40   .03596 .03484 .03377 .03275 .03178 .03086 .02998

 

 41   .03861 .03742 .03628 .03520 .03416 .03318 .03224

 

 42   .04152 .04025 .03903 .03788 .03678 .03573 .03473

 

 43   .04468 .04333 .04205 .04082 .03965 .03853 .03746

 

 44   .04813 .04670 .04533 .04403 .04278 .04159 .04045

 

 45   .05183 .05032 .04887 .04748 .04616 .04489 .04368

 

 46   .05582 .05421 .05267 .05121 .04980 .04846 .04717

 

 47   .06006 .05836 .05673 .05518 .05369 .05226 .05089

 

 48   .06459 .06279 .06107 .05943 .05785 .05634 .05488

 

 49   .06942 .06752 .06571 .06397 .06230 .06070 .05916

 

 50   .07459 .07259 .07068 .06884 .06708 .06538 .06376

 

 51   .08012 .07801 .07599 .07406 .07220 .07041 .06869

 

 52   .08596 .08375 .08163 .07959 .07763 .07574 .07392

 

 53   .09214 .08982 .08759 .08544 .08338 .08139 .07948

 

 54   .09867 .09623 .09389 .09164 .08946 .08737 .08536

 

 55   .10556 .10301 .10055 .09819 .09591 .09371 .09159

 

 56   .11283 .11016 .10759 .10511 .10272 .10042 .09819

 

 57   .12050 .11771 .11502 .11243 .10993 .10751 .10518

 

 58   .12852 .12562 .12281 .12011 .11749 .11496 .11252

 

 59   .13687 .13385 .13092 .12810 .12537 .12273 .12017

 

 60   .14554 .14240 .13935 .13641 .13356 .13080 .12813

 

 61   .15457 .15130 .14813 .14507 .14210 .13923 .13644

 

 62   .16402 .16063 .15734 .15415 .15107 .14808 .14518

 

 63   .17393 .17042 .16700 .16370 .16049 .15738 .15437

 

 64   .18429 .18065 .17712 .17369 .17036 .16714 .16400

 

 65   .19511 .19135 .18769 .18415 .18070 .17735 .17410

 

 66   .20645 .20257 .19880 .19513 .19157 .18810 .18473

 

 67   .21841 .21441 .21052 .20673 .20305 .19947 .19599

 

 68   .23096 .22685 .22284 .21895 .21515 .21146 .20786

 

 69   .24409 .23987 .23575 .23175 .22784 .22404 .22033

 

 70   .25772 .25339 .24918 .24507 .24106 .23715 .23333

 

 71   .27178 .26735 .26304 .25882 .25471 .25070 .24679

 

 72   .28622 .28170 .27729 .27298 .26877 .26467 .26065

 

 73   .30100 .29639 .29189 .28749 .28320 .27899 .27489

 

 74   .31621 .31152 .30694 .30246 .29807 .29378 .28959

 

 75   .33195 .32719 .32253 .31797 .31351 .30914 .30486

 

 76   .34832 .34350 .33877 .33415 .32961 .32517 .32082

 

 77   .36535 .36047 .35570 .35101 .34642 .34192 .33750

 

 78   .38302 .37811 .37329 .36856 .36392 .35937 .35490

 

 79   .40124 .39630 .39145 .38669 .38201 .37742 .37291

 

 80   .41980 .41485 .40998 .40520 .40050 .39588 .39134

 

 81   .43854 .43358 .42871 .42392 .41921 .41457 .41001

 

 82   .45733 .45238 .44752 .44273 .43802 .43338 .42881

 

 83   .47616 .47123 .46638 .46161 .45690 .45227 .44770

 

 84   .49519 .49030 .48548 .48073 .47604 .47143 .46688

 

 85   .51458 .50974 .50496 .50025 .49560 .49102 .48650

 

 86   .53413 .52935 .52463 .51998 .51538 .51084 .50636

 

 87   .55351 .54881 .54416 .53957 .53503 .53055 .52613

 

 88   .57268 .56806 .56349 .55898 .55451 .55010 .54574

 

 89   .59162 .58710 .58262 .57819 .57382 .56949 .56520

 

 90   .61030 .60588 .60151 .59718 .59290 .58866 .58447

 

 91   .62834 .62403 .61977 .61554 .61136 .60722 .60312

 

 92   .64527 .64107 .63692 .63280 .62872 .62468 .62068

 

 93   .66107 .65699 .65294 .64893 .64495 .64101 .63711

 

 94   .67597 .67200 .66806 .66415 .66027 .65643 .65262

 

 95   .69031 .68645 .68262 .67881 .67504 .67130 .66759

 

 96   .70396 .70021 .69648 .69279 .68912 .68548 .68186

 

 97   .71670 .71305 .70943 .70584 .70227 .69872 .69520

 

 98   .72875 .72521 .72169 .71819 .71472 .71127 .70784

 

 99   .74065 .73721 .73379 .73040 .72703 .72368 .72035

 

 100   .75234 .74901 .74570 .74241 .73914 .73589 .73265

 

 101   .76399 .76077 .75757 .75438 .75122 .74807 .74494

 

 102   .77552 .77241 .76932 .76625 .76319 .76015 .75712

 

 103   .78703 .78404 .78106 .77809 .77514 .77221 .76929

 

 104   .79948 .79662 .79377 .79093 .78810 .78528 .78248

 

 105   .81159 .80885 .80612 .80340 .80069 .79799 .79530

 

 106   .82763 .82506 .82250 .81995 .81741 .81488 .81235

 

 107   .84749 .84516 .84283 .84051 .83819 .83587 .83356

 

 108   .87999 .87808 .87618 .87428 .87238 .87049 .86859

 

 109   .93900 .93800 .93700 .93600 .93500 .93400 .93300

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE    13.6%  13.8%  14.0%

 

 =====================================================================

 

 0   .01143 .01135 .01128

 

 1   .00316 .00309 .00302

 

 2   .00288 .00280 .00273

 

 3   .00281 .00273 .00265

 

 4   .00285 .00276 .00268

 

 5   .00297 .00288 .00279

 

 6   .00314 .00305 .00295

 

 7   .00338 .00327 .00317

 

 8   .00366 .00354 .00344

 

 9   .00402 .00389 .00378

 

 10   .00446 .00433 .00421

 

 11   .00499 .00485 .00472

 

 12   .00560 .00545 .00531

 

 13   .00626 .00610 .00595

 

 14   .00689 .00673 .00657

 

 15   .00748 .00730 .00714

 

 16   .00799 .00780 .00762

 

 17   .00842 .00822 .00804

 

 18   .00879 .00858 .00839

 

 19   .00914 .00892 .00871

 

 20   .00950 .00927 .00905

 

 21   .00988 .00964 .00941

 

 22   .01027 .01002 .00978

 

 23   .01069 .01042 .01017

 

 24   .01115 .01087 .01060

 

 25   .01168 .01137 .01109

 

 26   .01226 .01194 .01163

 

 27   .01293 .01259 .01226

 

 28   .01367 .01330 .01296

 

 29   .01447 .01408 .01372

 

 30   .01534 .01493 .01453

 

 31   .01627 .01582 .01540

 

 32   .01726 .01679 .01634

 

 33   .01835 .01784 .01736

 

 34   .01951 .01897 .01846

 

 35   .02080 .02022 .01967

 

 36   .02218 .02157 .02098

 

 37   .02369 .02303 .02241

 

 38   .02534 .02464 .02397

 

 39   .02715 .02640 .02568

 

 40   .02914 .02833 .02757

 

 41   .03134 .03048 .02966

 

 42   .03377 .03285 .03198

 

 43   .03644 .03546 .03453

 

 44   .03936 .03832 .03732

 

 45   .04252 .04141 .04034

 

 46   .04593 .04475 .04362

 

 47   .04958 .04832 .04711

 

 48   .05349 .05216 .05087

 

 49   .05768 .05626 .05490

 

 50   .06219 .06069 .05924

 

 51   .06703 .06544 .06391

 

 52   .07218 .07049 .06887

 

 53   .07763 .07586 .07415

 

 54   .08342 .08154 .07974

 

 55   .08955 .08757 .08567

 

 56   .09605 .09397 .09197

 

 57   .10293 .10075 .09864

 

 58   .11016 .10787 .10567

 

 59   .11770 .11531 .11299

 

 60   .12555 .12305 .12063

 

 61   .13375 .13113 .12860

 

 62   .14237 .13964 .13699

 

 63   .15144 .14860 .14584

 

 64   .16096 .15800 .15513

 

 65   .17094 .16787 .16488

 

 66   .18146 .17827 .17517

 

 67   .19259 .18929 .18608

 

 68   .20436 .20094 .19762

 

 69   .21672 .21320 .20976

 

 70   .22961 .22598 .22244

 

 71   .24296 .23923 .23559

 

 72   .25673 .25290 .24915

 

 73   .27087 .26694 .26310

 

 74   .28548 .28146 .27753

 

 75   .30067 .29657 .29255

 

 76   .31656 .31238 .30828

 

 77   .33317 .32892 .32475

 

 78   .35051 .34621 .34198

 

 79   .36848 .36413 .35985

 

 80   .38688 .38249 .37818

 

 81   .40553 .40112 .39678

 

 82   .42431 .41989 .41553

 

 83   .44320 .43877 .43441

 

 84   .46239 .45797 .45361

 

 85   .48204 .47763 .47329

 

 86   .50194 .49758 .49327

 

 87   .52176 .51744 .51317

 

 88   .54144 .53718 .53296

 

 89   .56097 .55678 .55263

 

 90   .58032 .57621 .57214

 

 91   .59907 .59505 .59107

 

 92   .61672 .61279 .60890

 

 93   .63323 .62940 .62559

 

 94   .64884 .64509 .64138

 

 95   .66390 .66025 .65662

 

 96   .67828 .67471 .67118

 

 97   .69171 .68824 .68480

 

 98   .70444 .70106 .69770

 

 99   .71704 .71375 .71048

 

 100   .72944 .72625 .72307

 

 101   .74183 .73873 .73565

 

 102   .75411 .75111 .74813

 

 103   .76638 .76348 .76060

 

 104   .77969 .77691 .77414

 

 105   .79262 .78995 .78729

 

 106   .80983 .80732 .80482

 

 107   .83126 .82896 .82666

 

 108   .86670 .86481 .86293

 

 109   .93200 .93100 .93000

 

 _____________________________________________________________________

 

 

(f) Effective dates. This section applies after April 30, 1999.

Par. 10. The undesignated center heading immediately preceding section 1.664-4A is revised to read as follows:

Unitrust Actuarial Tables Applicable Before May 1, 1999

Par. 11. Section 1.664-4A is amended as follows:

1. The section heading is revised.

2. In paragraph (d)(4), the first sentence is revised.

3. In paragraph (d)(6), the introductory text is revised and Table D is removed.

4. The heading of newly designated paragraph (e) is revised.

5. In newly designated paragraph (e)(1), the first sentence is revised.

6. Newly designated paragraphs (e)(3) through (e)(5) are revised.

7. In newly designated paragraph (e)(6), the heading and the first sentence of the introductory text are revised and the last sentence of introductory text is removed and two new sentences are added in its place.

8. The heading of Table U(1) is revised.

The addition and revisions read as follows:

Section 1.664-4A Valuation of charitable remainder interests for which the valuation date is before May 1, 1999.

* * * * *

(d) * * *

(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 which is used in determining the present value of the remainder interest is the factor under the appropriate adjusted payout rate in Table D in section 1.664-4(e)(6) that corresponds to the number of years in the term. * * *

* * * * *

(6) Actuarial tables for transfers for which the valuation date is after November 30, 1983, and before May 1, 1989. Table D in section 1.664-4(e)(6) and the following tables shall be used in the application of the provisions of this section:

* * * * *

(e) Valuation of charitable remainder unitrusts having certain payout sequences for transfers for which the valuation date is after April 30, 1989, and before May 1, 1999--(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, and before May 1, 1999, 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. * * *

* * * * *

(3) Adjusted payout rate. For transfers for which the valuation date is after April 30, 1989, and before May 1, 1999, the adjusted payout rate is determined by using the appropriate Table F, contained in section 1.664-4(e)(6), for the section 7520 interest rate applicable to the transfer. If the interest rate is between 4.2 and 14 percent, see section 1.664-4(e)(6). If the interest rate is below 4.2 percent or greater than 14 percent, see section 1.664-4(b). See section 1.664-4(e) for rules applicable in determining the adjusted payout rate.

(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, and before May 1, 1999, is the factor under the appropriate adjusted payout rate in Table D in section 1.664-4(e)(6) 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. Generally, 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, and, in the case of a testamentary transfer under sections 2055, 2106, or 2624, the valuation date is the date of death. See section 1.664-4T(e)(4) for additional rules regarding the valuation date. See section 1.664-4T(e)(4) for an example that illustrates the application of this paragraph (e)(4).

(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, and before May 1, 1999, 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 (e)(5), 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 rules provided in section 1.664-4T(e)(5) apply for determining the present value of the remainder interest. See section 1.664-4T(e)(5) for an example illustrating the application of this paragraph (e)(5)(using current actuarial tables).

(6) Actuarial tables for transfers for which the valuation date is after April 30, 1989, and before May 1, 1999. For transfers for which the valuation date is after April 30, 1989, and before May 1, 1999, 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 Table D, Tables F(4.2) through F(14.0) in section 1.664-4(e)(6) and Table U(1) of this paragraph (e)(6), as applicable. * * * Publication 1458 is no longer available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. However, pertinent factors in this publication may be obtained by a written request to: CC:DOM:CORP:R (IRS Publication 1458), room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044.

Table U(1).-- Unitrust Single Life Remainder Factors - Based on Life Table 80CNSMT

[Applicable for Transfers After April 30, 1989, and Before May 1, 1999]

* * * * *

Par. 12. Section 1.7520-1 is amended by:

1. Revising the last two sentences of paragraph (b)(2).

2. Revising the headings for paragraphs (c)(1) and (c)(2).

3. Revising the introductory text of paragraph (c)(2).

4. Removing the first two sentences of paragraph (c)(2)(iii) and adding one sentence in their place.

5. Revising paragraph (d).

The revisions and addition read as follows:

Section 1.7520-1 Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder or reversionary interests.

* * * * *

(b) * * *

(2) * * * For transactions with valuation dates after April 30, 1989, and before May 1, 1999, the mortality component table (80CNSMT) is contained in section 20.2031-7A(e)(4) of this chapter. See section 20.2031-7A(a) through (d) of this chapter for mortality component tables applicable to transactions for which the valuation date falls before May 1, 1989.

(c) * * *

(1) Regulations sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1989, and before May 1, 1999. * * *

(2) Internal Revenue Service publications containing tables with interest rates between 2.2 and 26 percent for valuation dates after April 30, 1989, and before May 1, 1999. The following publications are no longer available for purchase from the Superintendent of Documents, however, they may be obtained from CC:DOM:CORP:R, room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044:

* * * * *

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89). * * *

(d) Effective date. This section applies after April 30, 1989, and before May 1, 1999.

Par. 13. Section 1.7520-1T is added to read as follows:

Section 1.7520-1T Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder or reversionary interests (temporary).

(a) through (b)(1) [Reserved] For further guidance, see section 1.7520-1(a) through (b)(1).

(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, 1999, the mortality component table (Table 90CM) is contained in section 20.2031-7T(d)(7) of this chapter. See section 20.2031-7A of this chapter for mortality component tables applicable to transactions for which the valuation date falls before May 1, 1999.

(c) [Reserved]. For further guidance, see section 1.7520-1(c).

(1) Regulation sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1999. Section 1.642(c)-6T(e)(6) 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. See section 1.642(c)-6A for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 1.664-4(e)(6) contains Table F (payout factors) and Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years). Section 1.664-4T(e)(7) contains Table U(1) (actuarial factors for one life). These tables are used in determining the present value of a remainder interest in a charitable remainder unitrust as defined in section 1.664-3. See section 1.664-4A for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 20.2031-7(d)(6) of this chapter contains 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), and Table J (term certain annuity beginning-of-interval adjustment factors). Section 20.2031-7T(d)(7) of this chapter contains Table S (actuarial factors for one life), and Table 90CM (mortality components). These tables are used in determining the present value of annuities, life estates, remainders, and reversions. See section 20.2031-7A of this chapter for actuarial factors for one life and mortality components applicable to valuation dates before May 1, 1999.

(2) Internal Revenue Service publications containing tables with interest rates between 2.2 and 26 percent for valuation dates after April 30, 1999. The following documents are available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). 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 and a pooled income fund as defined in section 1.642(c)-5.

(ii) Internal Revenue Service Publication 1458, "Actuarial Values, Book Beth," (1999). 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.

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Book Gimel," (1999). This publication includes tables for computing deprecation adjustment factors. See section 1.170A-12T.

(d) Effective date. This section applies after April 30, 1999.

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

Par. 14. The authority citation for part 20 is amended by adding entries in numerical order to read in part as follows:

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

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

 

 * * *

 

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

 

 * * *

 

 

Par. 15. Section 20.2031-0 is revised 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.

 

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

 

  remainder or reversionary interests(temporary).

 

 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, 1999

 

 

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, 1999.

Par. 16. The undesignated centerheading immediately following section 20.2046-1is revised to read as follows:

 Actuarial Tables Applicable Before May 1, 1999

 

 

Par. 17. Section 20.2031-7A is amended by:

1. Revising the section heading.

2. Adding paragraph (e).

The revision and addition 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, 1999.

* * * * *

(e) 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, and before May 1, 1999--(1) In general. Except as otherwise provided in section 20.2031-7(b) 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, and before May 1, 1999, the fair market value of annuities, life estates, terms of years, remainders, and reversionary interests is the present value of the interests determined by use of standard or special section 7520 actuarial factors and the valuation methodology described in section 20.2031-7T(d). 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. See paragraph (e)(4) of this section for determination of the appropriate table for use in valuing these interests.

(2) 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 paragraph (d) of this section.

(3) Publications and actuarial computations by the Internal Revenue Service. Many standard actuarial factors not included in paragraph (e)(4) of this section or in section 20.2031-7(d)(6) 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. Publication 1457 is no longer available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. However, pertinent factors in this publication may be obtained from: CC:DOM:CORP:R (IRS Publication 1457), room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. If a special factor is required in the case of an actual decedent, the Internal Revenue 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.

(4) Actuarial tables. Except as provided in section 20.7520-3(b) (pertaining to certain limitations on the use of prescribed tables), Life Table 80CNSMT and Table S (Single life remainder factors applicable where the valuation date is after April 30, 1989, and before May 1, 1999), contained in this paragraph (b)(4), and Table B, Table J, and Table K set forth in section 20.2031-7(d)(6) 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 S and Table 80CNSMT are as follows:

Par. 17a. Section 20.2031-7A is further amended by redesignating Table S and Table 80CNSMT in section 20.2031-7(d)(6) as Table S and Table 80CNSMT in section 20.2031-7A(e)(4) and revising the table headings to read as follows:

* * * * *

(e) * * *

(4) * * *

Table S.-Based on Life on Life Table 80CNSMT Single Life Remainder Factors

[Applicable After April 30, 1989, and Before May 1, 1999]

* * * * *

Table 80CNSMT.-Applicable After April 30, 1989, and Before May 1, 1999

* * * * *

Par. 18. Section 20.2031-7 is amended by:

1. Revising the section heading.

2. Revising paragraphs (c) through (d)(5).

3. Revising paragraph (d)(6) heading and introductory text.

4. Revising paragraph (e).

The revisions read as follows:

Section 20.2031-7 Valuation of annuities, interests for life or term of years, and remainder or reversionary interests.

* * * * * (c) through (d)(5) [Reserved]. For further guidance, see section 20.2031-7T(c) through (d)(5).

(d)(6) Actuarial Table B, Table J, and Table K where the valuation date is after April 30, 1989. Except as provided in section 20.7520-3(b) (pertaining to certain limitations on prescribed tables), the tables in this paragraph (d)(6) and either Table S and Table 80CNSMT in section 20.2031-7A(e)(4) (for valuation dates after April 30, 1989, and before May 1, 1999), or Table S and Table 90CM in section 20.2031-7T(d)(7) (for valuation dates after May 1, 1999) 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.

* * * * *

(e) Effective date. This section applies after April 30, 1989, and before May 1, 1999.

Par. 19. Section 20.2031-7T is added to read as follows:

Section 20.2031-7T Valuation of annuities, interests for life or term of years, and remainder or reversionary interests (temporary).

(a) through (b) [Reserved]. For further information see section 20.2031-7(a) through (b).

(c) Actuarial valuations. 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 after April 30, 1999, is determined under paragraph (d) of this section. 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, 1999, 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)

 

 04-30-89         05-01-99        20.2031-7A(e)

 

 

(d) Actuarial valuations after April 30, 1999--(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, 1999, the fair market value of annuities, life estates, terms of years, remainders, and reversionary interests is the 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)-6T(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 the 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 1.664-4T(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 1.664-4T(e)(4) and (5) 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 the appropriate Table S (for one measuring life), as the case may be. Table B is contained in section 20.2031-7(d)(6) and Table S (for one measuring life when the valuation date is after April 30, 1999) is contained in paragraph (d)(7) 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 (for one measuring life when the valuation date is after April 30, 1999). However, term-of-years and life interest actuarial factors are not included in Table B in section 20.2031-7(d)(6) or Table S in paragraph (d)(7) of this section. 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) in section 20.2031-7(d)(6) or in Table S (for the life of one individual) in paragraph (d)(7) of this section, 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 when the valuation date is after April 30, 1999). However, annuity actuarial factors are not included in Table B in section 20.2031-7(d)(6) or Table S in paragraph (d)(7) 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) in section 20.2031-7(d)(6) or in Table S (in the case of a one-life annuity when the valuation date is after April 30, 1999) in paragraph (d)(7) 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 as contained in Table K in section 20.2031-7(d)(6) 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, the survivor/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 the month in which the decedent died is 9.6 percent. Under Table S in paragraph (d)(7) of this section, the remainder factor at 9.6 percent for an individual aged 72 is .38438. 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 6.4127 (1.00000 minus .38438, divided by .096). Under Table K in section 20.2031-7(d)(6), 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 6.4127 and the product multiplied by 1.0433. The present value of the annuity at the date of the decedent's death is, therefore, $100,355.55 ($15,000 x 6.4127 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 in section 20.2031-7(d)(6) 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 25.2512-5T(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 a decedent dies after April 30, 1999, and if on May 1, 1999, 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(e)(2).

(ii) If a decedent dies after April 30, 1999, and before July 1, 1999, the fair market value of annuities, life estates, remainders, and reversions based on one or more measuring lives included in the gross estate of the decedent is their present value determined under this section by use of the section 7520 interest rate for the month in which the valuation date occurs (See sections 20.7520-1(b) and 20.7520-2(a)(2)) and the appropriate actuarial tables under either paragraph (d)(7) of this section or section 20.2031-7A(e)(4), at the option of the decedent's executor.

(iii) For purposes of paragraphs (d)(3)(i) and (ii) of this section, where the decedent's executor is given the option to use the appropriate actuarial tables under either paragraph (d)(7) of this section or section 20.2031-7A(e)(4), the decedent's executor must use the same actuarial table with respect to each individual transaction and with respect to all transfers occurring on the valuation date (e.g., gift and income tax charitable deductions with respect to the same transfer must be determined based on the same tables, and all assets includible in the gross estate and/or estate tax deductions claimed must be valued based on the same tables).

(4) Publications and actuarial computations by the Internal Revenue Service. Many standard actuarial factors not included in section 20.2031-7(d)(6) or in paragraph (d)(7) of this section are included in Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). Publication 1457 also includes examples that illustrate how to compute many special factors for more unusual situations. A copy of this publication is available for purchase 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 Internal Revenue 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 A, to whom the income was bequeathed for life. At the time of the decedent's death, A was 47 years 5 months old. In the month in which the decedent died, the section 7520 rate was 9.8 percent. Under Table S in paragraph (d)(7) 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 A's actual age at the decedent's death, is .10317. The present value of the remainder interest at the date of the decedent's death is, therefore, $5,158.50 ($50,000 X .10317).

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, the value of the property was $50,000 and A was 30 years 10 months old. The section 7520 rate at the time of the parent's death was 10.2 percent. Under Table S in paragraph (d)(7) 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 .03583. 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 .96417. The present value of A's interest at the time of the parent's death is, therefore, $48,208.50 ($50,000 X .96417).

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. At A's death, B was 45 years 7 months old. Also, at A's death, the section 7520 rate was 9.6 percent. Under Table S in paragraph (d)(7) 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 .10013. By converting the factor to an annuity factor, as described in paragraph (d)(2)(iv)(A) of this section, the factor for the present value of an annuity payable until the death of a person age 46 is 9.3736 (1.00000 minus .10013, divided by .096). The adjustment factor from Table K in section 20.2031-7(d)(6) 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, $95,938.80 ($10,000 X 9.3736 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. At the time of the decedent's death, 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 section 20.2031-7(d)(6) 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)(A) 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 section 20.2031-7(d)(6) 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) [Reserved]. For further guidance, see section 20.2031-7(d)(6).

(7) Actuarial Table S and Table 90CM where the valuation date is after April 30, 1999. Except as provided in section 20.7520-2(b) (pertaining to certain limitations on the use of prescribed tables), the following Table 90CM and Table S (single life remainder factors applicable where the valuation date is after April 30, 1999) and Table B, Table J, and Table K contained in section 20.2031-7(d)(6), 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 S

 

 BASED ON LIFE TABLE 90CM

 

 SINGLE LIFE REMAINDER FACTORS

 

 APPLICABLE AFTER APRIL 30, 1999

 

 INTEREST RATE

 

 =====================================================================

 

 AGE     4.2%   4.4%   4.6%   4.8%   5.0%   5.2%   5.4%

 

 =====================================================================

 

 0   .06752 .06130 .05586 .05109 .04691 .04322 .03998

 

 1   .06137 .05495 .04932 .04438 .04003 .03620 .03283

 

 2   .06325 .05667 .05088 .04580 .04132 .03737 .03388

 

 3   .06545 .05869 .05275 .04752 .04291 .03883 .03523

 

 4   .06784 .06092 .05482 .04944 .04469 .04048 .03676

 

 5   .07040 .06331 .05705 .05152 .04662 .04229 .03845

 

 6   .07310 .06583 .05941 .05372 .04869 .04422 .04025

 

 7   .07594 .06849 .06191 .05607 .05089 .04628 .04219

 

 8   .07891 .07129 .06453 .05853 .05321 .04846 .04424

 

 9   .08203 .07423 .06731 .06115 .05567 .05079 .04643

 

 10   .08532 .07734 .07024 .06392 .05829 .05326 .04877

 

 11   .08875 .08059 .07331 .06683 .06104 .05587 .05124

 

 12   .09233 .08398 .07653 .06989 .06394 .05862 .05385

 

 13   .09601 .08748 .07985 .07304 .06693 .06146 .05655

 

 14   .09974 .09102 .08322 .07624 .06997 .06435 .05929

 

 15   .10350 .09460 .08661 .07946 .07303 .06725 .06204

 

 16   .10728 .09818 .09001 .08268 .07608 .07014 .06479

 

 17   .11108 .10179 .09344 .08592 .07916 .07306 .06755

 

 18   .11494 .10545 .09691 .08921 .08227 .07601 .07034

 

 19   .11889 .10921 .10047 .09259 .08548 .07904 .07322

 

 20   .12298 .11310 .10417 .09610 .08881 .08220 .07622

 

 21   .12722 .11713 .10801 .09976 .09228 .08550 .07935

 

 22   .13159 .12130 .11199 .10354 .09588 .08893 .08260

 

 23   .13613 .12563 .11612 .10748 .09964 .09250 .08601

 

 24   .14084 .13014 .12043 .11160 .10357 .09625 .08958

 

 25   .14574 .13484 .12493 .11591 .10768 .10018 .09334

 

 26   .15084 .13974 .12963 .12041 .11199 .10431 .09728

 

 27   .15615 .14485 .13454 .12513 .11652 .10865 .10144

 

 28   .16166 .15016 .13965 .13004 .12124 .11319 .10580

 

 29   .16737 .15567 .14497 .13516 .12617 .11792 .11035

 

 30   .17328 .16138 .15048 .14047 .13129 .12286 .11510

 

 31   .17938 .16728 .15618 .14599 .13661 .12799 .12004

 

 32   .18568 .17339 .16210 .15171 .14214 .13333 .12520

 

 33   .19220 .17972 .16824 .15766 .14790 .13889 .13058

 

 34   .19894 .18627 .17460 .16383 .15388 .14468 .13618

 

 35   .20592 .19307 .18121 .17025 .16011 .15073 .14204

 

 36   .21312 .20010 .18805 .17691 .16658 .15701 .14814

 

 37   .22057 .20737 .19514 .18382 .17331 .16356 .15450

 

 38   .22827 .21490 .20251 .19100 .18031 .17038 .16113

 

 39   .23623 .22270 .21013 .19845 .18759 .17747 .16805

 

 40   .24446 .23078 .21805 .20620 .19516 .18487 .17527

 

 41   .25298 .23915 .22626 .21425 .20305 .19259 .18282

 

 42   .26178 .24782 .23478 .22262 .21125 .20062 .19069

 

 43   .27087 .25678 .24360 .23129 .21977 .20898 .19888

 

 44   .28025 .26603 .25273 .24027 .22860 .21766 .20740

 

 45   .28987 .27555 .26212 .24953 .23772 .22664 .21622

 

 46   .29976 .28533 .27179 .25908 .24714 .23591 .22536

 

 47   .30987 .29535 .28171 .26889 .25682 .24546 .23476

 

 48   .32023 .30563 .29190 .27897 .26678 .25530 .24447

 

 49   .33082 .31615 .30234 .28931 .27702 .26543 .25447

 

 50   .34166 .32694 .31306 .29995 .28756 .27586 .26479

 

 51   .35274 .33798 .32404 .31085 .29838 .28658 .27541

 

 52   .36402 .34924 .33525 .32200 .30946 .29757 .28630

 

 53   .37550 .36070 .34668 .33339 .32078 .30882 .29746

 

 54   .38717 .37237 .35833 .34500 .33234 .32031 .30888

 

 55   .39903 .38424 .37019 .35683 .34413 .33205 .32056

 

 56   .41108 .39631 .38227 .36890 .35617 .34405 .33250

 

 57   .42330 .40857 .39455 .38118 .36844 .35629 .34469

 

 58   .43566 .42098 .40699 .39364 .38089 .36873 .35710

 

 59   .44811 .43351 .41956 .40623 .39350 .38133 .36968

 

 60   .46066 .44613 .43224 .41896 .40624 .39408 .38243

 

 61   .47330 .45887 .44505 .43182 .41914 .40699 .39535

 

 62   .48608 .47175 .45802 .44485 .43223 .42011 .40848

 

 63   .49898 .48478 .47115 .45807 .44550 .43343 .42184

 

 64   .51200 .49793 .48442 .47143 .45895 .44694 .43539

 

 65   .52512 .51121 .49782 .48495 .47255 .46062 .44912

 

 66   .53835 .52461 .51137 .49862 .48634 .47449 .46307

 

 67   .55174 .53818 .52511 .51250 .50034 .48860 .47727

 

 68   .56524 .55188 .53899 .52654 .51452 .50291 .49168

 

 69   .57882 .56568 .55299 .54071 .52885 .51737 .50627

 

 70   .59242 .57951 .56703 .55495 .54325 .53193 .52096

 

 71   .60598 .59332 .58106 .56918 .55767 .54651 .53569

 

 72   .61948 .60707 .59504 .58338 .57206 .56108 .55043

 

 73   .63287 .62073 .60895 .59751 .58640 .57561 .56513

 

 74   .64621 .63435 .62282 .61162 .60073 .59015 .57985

 

 75   .65953 .64796 .63671 .62575 .61510 .60473 .59463

 

 76   .67287 .66160 .65063 .63995 .62954 .61940 .60952

 

 77   .68622 .67526 .66459 .65419 .64404 .63415 .62450

 

 78   .69954 .68892 .67856 .66845 .65858 .64895 .63955

 

 79   .71278 .70250 .69246 .68265 .67308 .66372 .65457

 

 80   .72581 .71588 .70618 .69668 .68740 .67833 .66945

 

 81   .73857 .72899 .71962 .71045 .70147 .69268 .68408

 

 82   .75101 .74178 .73274 .72389 .71522 .70672 .69840

 

 83   .76311 .75423 .74553 .73700 .72864 .72044 .71240

 

 84   .77497 .76645 .75809 .74988 .74183 .73393 .72618

 

 85   .78665 .77848 .77047 .76260 .75487 .74728 .73982

 

 86   .79805 .79025 .78258 .77504 .76764 .76036 .75320

 

 87   .80904 .80159 .79427 .78706 .77998 .77301 .76615

 

 88   .81962 .81251 .80552 .79865 .79188 .78521 .77865

 

 89   .82978 .82302 .81636 .80980 .80335 .79699 .79072

 

 90   .83952 .83309 .82676 .82052 .81437 .80831 .80234

 

 91   .84870 .84260 .83658 .83064 .82479 .81902 .81332

 

 92   .85716 .85136 .84563 .83998 .83441 .82891 .82348

 

 93   .86494 .85942 .85396 .84858 .84326 .83801 .83283

 

 94   .87216 .86690 .86170 .85657 .85149 .84648 .84153

 

 95   .87898 .87397 .86902 .86412 .85928 .85450 .84977

 

 96   .88537 .88060 .87587 .87121 .86659 .86203 .85751

 

 97   .89127 .88672 .88221 .87775 .87335 .86898 .86467

 

 98   .89680 .89245 .88815 .88389 .87968 .87551 .87138

 

 99   .90217 .89803 .89393 .88987 .88585 .88187 .87793

 

 100   .90738 .90344 .89953 .89567 .89183 .88804 .88428

 

 101   .91250 .90876 .90504 .90137 .89772 .89412 .89054

 

 102   .91751 .91396 .91045 .90696 .90350 .90007 .89668

 

 103   .92247 .91912 .91579 .91249 .90922 .90598 .90276

 

 104   .92775 .92460 .92148 .91839 .91532 .91227 .90924

 

 105   .93290 .92996 .92704 .92415 .92127 .91841 .91558

 

 106   .93948 .93680 .93415 .93151 .92889 .92628 .92370

 

 107   .94739 .94504 .94271 .94039 .93808 .93579 .93351

 

 108   .95950 .95767 .95585 .95404 .95224 .95045 .94867

 

 109   .97985 .97893 .97801 .97710 .97619 .97529 .97438

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE     5.6%   5.8%   6.0%

 

 =====================================================================

 

 0   .03711 .03458 .03233

 

 1   .02985 .02721 .02487

 

 2   .03079 .02806 .02563

 

 3   .03203 .02920 .02668

 

 4   .03346 .03052 .02791

 

 5   .03503 .03199 .02928

 

 6   .03672 .03357 .03076

 

 7   .03854 .03528 .03236

 

 8   .04046 .03709 .03407

 

 9   .04253 .03904 .03592

 

 10   .04474 .04114 .03790

 

 11   .04709 .04336 .04002

 

 12   .04957 .04572 .04226

 

 13   .05214 .04816 .04458

 

 14   .05474 .05064 .04694

 

 15   .05735 .05312 .04930

 

 16   .05996 .05559 .05164

 

 17   .06257 .05807 .05399

 

 18   .06521 .06057 .05636

 

 19   .06794 .06315 .05880

 

 20   .07078 .06584 .06135

 

 21   .07375 .06866 .06403

 

 22   .07685 .07160 .06682

 

 23   .08009 .07468 .06975

 

 24   .08349 .07793 .07284

 

 25   .08708 .08135 .07611

 

 26   .09085 .08496 .07956

 

 27   .09484 .08878 .08322

 

 28   .09901 .09279 .08706

 

 29   .10339 .09699 .09109

 

 30   .10796 .10138 .09532

 

 31   .11272 .10597 .09974

 

 32   .11769 .11076 .10435

 

 33   .12289 .11578 .10920

 

 34   .12831 .12102 .11426

 

 35   .13399 .12652 .11958

 

 36   .13990 .13225 .12514

 

 37   .14608 .13825 .13096

 

 38   .15253 .14452 .13705

 

 39   .15927 .15108 .14344

 

 40   .16631 .15795 .15013

 

 41   .17368 .16514 .15715

 

 42   .18138 .17267 .16450

 

 43   .18941 .18053 .17220

 

 44   .19777 .18873 .18023

 

 45   .20644 .19724 .18858

 

 46   .21542 .20606 .19725

 

 47   .22468 .21518 .20621

 

 48   .23425 .22460 .21549

 

 49   .24412 .23434 .22509

 

 50   .25432 .24441 .23502

 

 51   .26482 .25479 .24528

 

 52   .27561 .26547 .25584

 

 53   .28667 .27643 .26669

 

 54   .29801 .28766 .27782

 

 55   .30961 .29918 .28925

 

 56   .32149 .31099 .30097

 

 57   .33363 .32306 .31297

 

 58   .34600 .33538 .32522

 

 59   .35855 .34789 .33768

 

 60   .37127 .36058 .35033

 

 61   .38418 .37347 .36318

 

 62   .39732 .38660 .37629

 

 63   .41069 .39997 .38966

 

 64   .42427 .41357 .40326

 

 65   .43805 .42738 .41709

 

 66   .45206 .44143 .43118

 

 67   .46633 .45576 .44556

 

 68   .48083 .47034 .46020

 

 69   .49552 .48513 .47506

 

 70   .51034 .50004 .49007

 

 71   .52520 .51503 .50516

 

 72   .54009 .53004 .52029

 

 73   .55495 .54505 .53543

 

 74   .56984 .56009 .55061

 

 75   .58480 .57523 .56591

 

 76   .59989 .59050 .58135

 

 77   .61509 .60590 .59694

 

 78   .63036 .62140 .61264

 

 79   .64563 .63690 .62836

 

 80   .66077 .65227 .64396

 

 81   .67566 .66741 .65933

 

 82   .69024 .68225 .67441

 

 83   .70451 .69678 .68919

 

 84   .71857 .71110 .70377

 

 85   .73250 .72530 .71823

 

 86   .74617 .73925 .73245

 

 87   .75940 .75277 .74624

 

 88   .77220 .76584 .75958

 

 89   .78455 .77847 .77248

 

 90   .79645 .79064 .78492

 

 91   .80771 .80217 .79671

 

 92   .81812 .81283 .80761

 

 93   .82771 .82266 .81767

 

 94   .83664 .83181 .82704

 

 95   .84510 .84049 .83592

 

 96   .85305 .84864 .84427

 

 97   .86040 .85618 .85200

 

 98   .86730 .86326 .85926

 

 99   .87402 .87016 .86633

 

 100   .88056 .87687 .87322

 

 101   .88699 .88348 .88000

 

 102   .89331 .88997 .88666

 

 103   .89957 .89640 .89326

 

 104   .90624 .90326 .90031

 

 105   .91276 .90997 .90719

 

 106   .92113 .91857 .91604

 

 107   .93124 .92899 .92675

 

 108   .94689 .94512 .94336

 

 109   .97348 .97259 .97170

 

 ______________________________________________________________________

 

 INTEREST RATE

 

 ======================================================================

 

 AGE     6.2%   6.4%   6.6%   6.8%   7.0%   7.2%   7.4%

 

 ======================================================================

 

 0   .03034 .02857 .02700 .02559 .02433 .02321 .02220

 

 1   .02279 .02094 .01929 .01782 .01650 .01533 .01427

 

 2   .02347 .02155 .01983 .01829 .01692 .01569 .01458

 

 3   .02444 .02243 .02065 .01905 .01761 .01632 .01516

 

 4   .02558 .02349 .02163 .01996 .01846 .01712 .01590

 

 5   .02686 .02469 .02275 .02101 .01945 .01804 .01677

 

 6   .02825 .02600 .02398 .02217 .02053 .01906 .01773

 

 7   .02976 .02742 .02532 .02343 .02172 .02019 .01880

 

 8   .03137 .02894 .02675 .02479 .02301 .02140 .01995

 

 9   .03311 .03059 .02832 .02627 .02442 .02274 .02122

 

 10   .03499 .03237 .03001 .02788 .02595 .02420 .02262

 

 11   .03700 .03428 .03183 .02961 .02760 .02578 .02413

 

 12   .03913 .03632 .03377 .03146 .02937 .02748 .02575

 

 13   .04135 .03843 .03579 .03339 .03122 .02924 .02744

 

 14   .04359 .04057 .03783 .03534 .03308 .03102 .02915

 

 15   .04584 .04270 .03986 .03728 .03493 .03279 .03083

 

 16   .04806 .04482 .04187 .03919 .03674 .03452 .03248

 

 17   .05029 .04692 .04387 .04108 .03855 .03623 .03411

 

 18   .05253 .04905 .04588 .04299 .04036 .03795 .03574

 

 19   .05484 .05124 .04796 .04496 .04222 .03972 .03742

 

 20   .05726 .05354 .05013 .04702 .04418 .04158 .03919

 

 21   .05980 .05595 .05242 .04920 .04625 .04354 .04105

 

 22   .06246 .05847 .05482 .05147 .04841 .04559 .04301

 

 23   .06524 .06112 .05734 .05387 .05069 .04777 .04508

 

 24   .06819 .06392 .06001 .05642 .05312 .05008 .04728

 

 25   .07131 .06690 .06285 .05913 .05570 .05255 .04964

 

 26   .07460 .07005 .06586 .06200 .05845 .05518 .05215

 

 27   .07810 .07340 .06907 .06508 .06140 .05800 .05485

 

 28   .08179 .07693 .07246 .06833 .06451 .06098 .05772

 

 29   .08566 .08065 .07603 .07176 .06780 .06414 .06075

 

 30   .08973 .08456 .07978 .07536 .07127 .06748 .06396

 

 31   .09398 .08865 .08372 .07915 .07491 .07098 .06733

 

 32   .09843 .09294 .08785 .08313 .07875 .07468 .07089

 

 33   .10310 .09745 .09220 .08732 .08279 .07858 .07466

 

 34   .10799 .10217 .09676 .09173 .08705 .08269 .07862

 

 35   .11314 .10715 .10157 .09638 .09155 .08704 .08283

 

 36   .11852 .11236 .10662 .10127 .09628 .09162 .08726

 

 37   .12416 .11783 .11193 .10641 .10126 .09645 .09194

 

 38   .13009 .12359 .11751 .11183 .10652 .10155 .09689

 

 39   .13629 .12962 .12338 .11753 .11206 .10693 .10212

 

 40   .14281 .13597 .12955 .12355 .11791 .11262 .10766

 

 41   .14966 .14264 .13606 .12989 .12409 .11864 .11352

 

 42   .15685 .14966 .14291 .13657 .13061 .12500 .11972

 

 43   .16437 .15702 .15010 .14360 .13747 .13171 .12627

 

 44   .17224 .16472 .15764 .15098 .14469 .13876 .13317

 

 45   .18042 .17274 .16550 .15867 .15223 .14615 .14040

 

 46   .18893 .18110 .17370 .16671 .16011 .15387 .14796

 

 47   .19775 .18975 .18220 .17505 .16830 .16190 .15584

 

 48   .20688 .19873 .19102 .18373 .17682 .17027 .16406

 

 49   .21633 .20804 .20018 .19274 .18568 .17898 .17262

 

 50   .22612 .21769 .20969 .20210 .19490 .18805 .18155

 

 51   .23625 .22769 .21955 .21182 .20448 .19749 .19084

 

 52   .24669 .23799 .22973 .22186 .21438 .20726 .20047

 

 53   .25742 .24861 .24022 .23222 .22461 .21735 .21043

 

 54   .26845 .25952 .25101 .24290 .23516 .22777 .22072

 

 55   .27978 .27074 .26212 .25389 .24604 .23853 .23136

 

 56   .29140 .28227 .27355 .26522 .25725 .24963 .24233

 

 57   .30333 .29411 .28529 .27686 .26879 .26106 .25365

 

 58   .31551 .30621 .29731 .28878 .28061 .27278 .26528

 

 59   .32790 .31854 .30956 .30095 .29269 .28477 .27716

 

 60   .34050 .33107 .32202 .31334 .30500 .29699 .28929

 

 61   .35331 .34384 .33473 .32598 .31757 .30948 .30170

 

 62   .36639 .35688 .34772 .33892 .33044 .32229 .31443

 

 63   .37974 .37020 .36101 .35216 .34363 .33542 .32750

 

 64   .39334 .38378 .37456 .36568 .35711 .34884 .34087

 

 65   .40718 .39761 .38838 .37947 .37087 .36257 .35455

 

 66   .42128 .41172 .40249 .39357 .38496 .37663 .36858

 

 67   .43569 .42616 .41694 .40803 .39941 .39107 .38299

 

 68   .45038 .44089 .43170 .42281 .41419 .40585 .39777

 

 69   .46531 .45587 .44672 .43786 .42927 .42094 .41286

 

 70   .48040 .47103 .46194 .45312 .44456 .43626 .42820

 

 71   .49558 .48629 .47727 .46851 .46000 .45174 .44371

 

 72   .51082 .50162 .49268 .48399 .47554 .46733 .45934

 

 73   .52607 .51697 .50813 .49952 .49114 .48299 .47506

 

 74   .54139 .53241 .52367 .51515 .50686 .49879 .49092

 

 75   .55683 .54798 .53936 .53095 .52276 .51477 .50698

 

 76   .57243 .56373 .55524 .54696 .53888 .53100 .52330

 

 77   .58819 .57965 .57132 .56318 .55523 .54747 .53988

 

 78   .60408 .59572 .58755 .57957 .57177 .56414 .55668

 

 79   .62001 .61184 .60385 .59604 .58840 .58092 .57360

 

 80   .63582 .62786 .62007 .61244 .60497 .59765 .59048

 

 81   .65142 .64367 .63608 .62864 .62135 .61421 .60721

 

 82   .66673 .65920 .65182 .64458 .63748 .63052 .62368

 

 83   .68175 .67444 .66728 .66024 .65334 .64656 .63991

 

 84   .69657 .68950 .68256 .67574 .66904 .66246 .65599

 

 85   .71128 .70446 .69775 .69116 .68467 .67830 .67204

 

 86   .72576 .71919 .71272 .70636 .70010 .69394 .68789

 

 87   .73981 .73349 .72726 .72114 .71511 .70917 .70333

 

 88   .75342 .74735 .74137 .73548 .72968 .72396 .71833

 

 89   .76658 .76076 .75503 .74938 .74381 .73832 .73290

 

 90   .77928 .77371 .76823 .76281 .75748 .75221 .74702

 

 91   .79131 .78600 .78075 .77557 .77046 .76542 .76044

 

 92   .80246 .79737 .79235 .78740 .78250 .77767 .77290

 

 93   .81274 .80788 .80307 .79832 .79363 .78899 .78441

 

 94   .82232 .81766 .81306 .80850 .80401 .79956 .79517

 

 95   .83141 .82695 .82254 .81818 .81387 .80961 .80539

 

 96   .83996 .83569 .83147 .82729 .82316 .81907 .81503

 

 97   .84787 .84378 .83973 .83573 .83176 .82784 .82396

 

 98   .85530 .85138 .84750 .84366 .83985 .83609 .83236

 

 99   .86255 .85880 .85508 .85140 .84776 .84415 .84057

 

 100   .86960 .86601 .86246 .85894 .85546 .85200 .84858

 

 101   .87655 .87313 .86974 .86638 .86305 .85975 .85648

 

 102   .88338 .88012 .87689 .87369 .87052 .86738 .86426

 

 103   .89015 .88706 .88399 .88095 .87793 .87494 .87197

 

 104   .89737 .89446 .89157 .88871 .88586 .88304 .88024

 

 105   .90443 .90170 .89898 .89628 .89360 .89094 .88830

 

 106   .91351 .91101 .90852 .90605 .90359 .90115 .89873

 

 107   .92452 .92230 .92010 .91791 .91573 .91356 .91141

 

 108   .94161 .93987 .93814 .93641 .93469 .93298 .93128

 

 109   .97081 .96992 .96904 .96816 .96729 .96642 .96555

 

 ____________________________________________________________________

 

 [table continued]

 

 ======================================================================

 

 AGE     7.6%   7.8%   8.0%

 

 ======================================================================

 

 0   .02129 .02047 .01973

 

 1   .01331 .01246 .01168

 

 2   .01358 .01268 .01187

 

 3   .01412 .01317 .01232

 

 4   .01481 .01382 .01292

 

 5   .01562 .01458 .01364

 

 6   .01653 .01544 .01445

 

 7   .01754 .01640 .01536

 

 8   .01864 .01744 .01635

 

 9   .01985 .01859 .01745

 

 10   .02118 .01987 .01867

 

 11   .02262 .02125 .02000

 

 12   .02418 .02275 .02144

 

 13   .02580 .02431 .02294

 

 14   .02744 .02587 .02444

 

 15   .02905 .02742 .02593

 

 16   .03063 .02892 .02736

 

 17   .03218 .03040 .02877

 

 18   .03373 .03187 .03017

 

 19   .03532 .03339 .03161

 

 20   .03700 .03498 .03313

 

 21   .03877 .03667 .03473

 

 22   .04063 .03844 .03642

 

 23   .04260 .04032 .03821

 

 24   .04470 .04232 .04012

 

 25   .04695 .04447 .04218

 

 26   .04936 .04677 .04438

 

 27   .05195 .04925 .04676

 

 28   .05469 .05189 .04929

 

 29   .05761 .05469 .05198

 

 30   .06069 .05766 .05483

 

 31   .06394 .06078 .05785

 

 32   .06737 .06409 .06103

 

 33   .07100 .06759 .06441

 

 34   .07483 .07129 .06798

 

 35   .07890 .07522 .07179

 

 36   .08319 .07938 .07581

 

 37   .08772 .08377 .08006

 

 38   .09253 .08843 .08459

 

 39   .09761 .09337 .08938

 

 40   .10299 .09860 .09447

 

 41   .10870 .10417 .09989

 

 42   .11475 .11006 .10564

 

 43   .12115 .11631 .11174

 

 44   .12789 .12290 .11819

 

 45   .13496 .12982 .12496

 

 46   .14238 .13708 .13207

 

 47   .15010 .14466 .13950

 

 48   .15817 .15258 .14727

 

 49   .16658 .16084 .15539

 

 50   .17536 .16948 .16388

 

 51   .18452 .17849 .17275

 

 52   .19400 .18784 .18196

 

 53   .20383 .19753 .19151

 

 54   .21399 .20756 .20140

 

 55   .22450 .21793 .21166

 

 56   .23535 .22867 .22227

 

 57   .24656 .23976 .23324

 

 58   .25807 .25116 .24453

 

 59   .26986 .26284 .25610

 

 60   .28190 .27478 .26794

 

 61   .29422 .28701 .28007

 

 62   .30687 .29958 .29255

 

 63   .31986 .31250 .30539

 

 64   .33317 .32574 .31857

 

 65   .34681 .33932 .33208

 

 66   .36079 .35326 .34597

 

 67   .37518 .36761 .36028

 

 68   .38994 .38235 .37499

 

 69   .40503 .39743 .39006

 

 70   .42038 .41278 .40540

 

 71   .43591 .42832 .42095

 

 72   .45157 .44401 .43666

 

 73   .46733 .45981 .45249

 

 74   .48325 .47578 .46849

 

 75   .49938 .49197 .48474

 

 76   .51579 .50846 .50130

 

 77   .53247 .52523 .51815

 

 78   .54939 .54225 .53527

 

 79   .56644 .55943 .55256

 

 80   .58347 .57659 .56985

 

 81   .60034 .59361 .58701

 

 82   .61698 .61041 .60395

 

 83   .63338 .62696 .62066

 

 84   .64964 .64340 .63727

 

 85   .66587 .65982 .65386

 

 86   .68193 .67606 .67029

 

 87   .69757 .69190 .68632

 

 88   .71279 .70732 .70194

 

 89   .72757 .72231 .71712

 

 90   .74190 .73684 .73186

 

 91   .75553 .75068 .74589

 

 92   .76818 .76353 .75893

 

 93   .77989 .77542 .77100

 

 94   .79082 .78653 .78228

 

 95   .80122 .79710 .79302

 

 96   .81103 .80707 .80315

 

 97   .82012 .81632 .81255

 

 98   .82867 .82502 .82140

 

 99   .83703 .83353 .83005

 

 100   .84519 .84183 .83849

 

 101   .85324 .85003 .84684

 

 102   .86116 .85809 .85505

 

 103   .86903 .86611 .86321

 

 104   .87745 .87469 .87195

 

 105   .88568 .88307 .88049

 

 106   .89632 .89392 .89154

 

 107   .90927 .90714 .90502

 

 108   .92958 .92790 .92622

 

 109   .96468 .96382 .96296

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE     8.2%   8.4%   8.6%   8.8%   9.0%   9.2%   9.4%

 

 =====================================================================

 

 0   .01906 .01845 .01790 .01740 .01694 .01652 .01613

 

 1   .01098 .01034 .00977 .00924 .00876 .00833 .00793

 

 2   .01113 .01046 .00986 .00930 .00880 .00834 .00791

 

 3   .01155 .01084 .01020 .00962 .00909 .00860 .00816

 

 4   .01211 .01137 .01069 .01008 .00952 .00900 .00853

 

 5   .01279 .01201 .01130 .01065 .01006 .00952 .00902

 

 6   .01356 .01274 .01199 .01131 .01068 .01011 .00959

 

 7   .01442 .01356 .01277 .01205 .01140 .01079 .01023

 

 8   .01536 .01446 .01363 .01287 .01218 .01154 .01096

 

 9   .01641 .01546 .01460 .01380 .01307 .01240 .01178

 

 10   .01758 .01659 .01567 .01484 .01407 .01336 .01270

 

 11   .01886 .01781 .01686 .01598 .01517 .01442 .01373

 

 12   .02024 .01915 .01814 .01721 .01636 .01558 .01485

 

 13   .02168 .02054 .01948 .01851 .01762 .01679 .01603

 

 14   .02313 .02193 .02083 .01981 .01887 .01801 .01721

 

 15   .02456 .02330 .02214 .02107 .02009 .01918 .01834

 

 16   .02593 .02462 .02340 .02229 .02126 .02030 .01942

 

 17   .02728 .02590 .02463 .02346 .02238 .02138 .02046

 

 18   .02861 .02717 .02584 .02462 .02348 .02243 .02146

 

 19   .02998 .02847 .02708 .02580 .02461 .02351 .02249

 

 20   .03142 .02984 .02839 .02704 .02580 .02465 .02357

 

 21   .03295 .03130 .02978 .02837 .02706 .02585 .02473

 

 22   .03455 .03283 .03124 .02976 .02839 .02712 .02594

 

 23   .03626 .03446 .03279 .03124 .02981 .02847 .02723

 

 24   .03809 .03620 .03446 .03283 .03133 .02993 .02863

 

 25   .04005 .03808 .03625 .03456 .03298 .03151 .03014

 

 26   .04216 .04010 .03819 .03641 .03476 .03322 .03178

 

 27   .04444 .04229 .04029 .03843 .03670 .03508 .03357

 

 28   .04687 .04463 .04254 .04059 .03877 .03708 .03550

 

 29   .04946 .04712 .04493 .04289 .04099 .03922 .03756

 

 30   .05221 .04976 .04748 .04534 .04335 .04149 .03975

 

 31   .05511 .05255 .05017 .04794 .04585 .04390 .04208

 

 32   .05818 .05551 .05302 .05069 .04851 .04647 .04455

 

 33   .06144 .05866 .05606 .05363 .05135 .04921 .04720

 

 34   .06489 .06200 .05928 .05674 .05436 .05212 .05002

 

 35   .06857 .06555 .06273 .06007 .05758 .05524 .05304

 

 36   .07246 .06932 .06638 .06361 .06101 .05856 .05626

 

 37   .07659 .07332 .07025 .06737 .06466 .06210 .05969

 

 38   .08098 .07758 .07439 .07138 .06855 .06588 .06336

 

 39   .08563 .08210 .07878 .07565 .07270 .06992 .06729

 

 40   .09059 .08692 .08347 .08021 .07714 .07423 .07149

 

 41   .09586 .09206 .08848 .08509 .08189 .07886 .07600

 

 42   .10147 .09753 .09381 .09029 .08696 .08381 .08083

 

 43   .10742 .10334 .09948 .09583 .09237 .08909 .08598

 

 44   .11373 .10950 .10551 .10172 .09813 .09472 .09148

 

 45   .12035 .11599 .11185 .10792 .10420 .10066 .09730

 

 46   .12732 .12281 .11853 .11447 .11061 .10694 .10345

 

 47   .13460 .12995 .12553 .12133 .11733 .11353 .10991

 

 48   .14223 .13743 .13287 .12853 .12439 .12046 .11671

 

 49   .15020 .14526 .14056 .13608 .13181 .12774 .12385

 

 50   .15855 .15347 .14862 .14401 .13960 .13540 .13138

 

 51   .16727 .16205 .15707 .15232 .14777 .14344 .13929

 

 52   .17634 .17098 .16587 .16097 .15630 .15183 .14755

 

 53   .18576 .18027 .17501 .16999 .16518 .16057 .15616

 

 54   .19552 .18990 .18451 .17935 .17441 .16968 .16514

 

 55   .20564 .19989 .19437 .18908 .18402 .17915 .17449

 

 56   .21613 .21025 .20461 .19919 .19400 .18901 .18422

 

 57   .22698 .22098 .21522 .20968 .20436 .19925 .19434

 

 58   .23816 .23204 .22616 .22051 .21507 .20984 .20481

 

 59   .24962 .24339 .23740 .23163 .22608 .22073 .21558

 

 60   .26136 .25502 .24892 .24304 .23738 .23192 .22666

 

 61   .27339 .26695 .26075 .25477 .24900 .24343 .23806

 

 62   .28578 .27925 .27295 .26687 .26100 .25533 .24985

 

 63   .29854 .29192 .28553 .27935 .27339 .26762 .26205

 

 64   .31164 .30494 .29846 .29221 .28615 .28030 .27463

 

 65   .32508 .31831 .31177 .30543 .29930 .29336 .28761

 

 66   .33891 .33208 .32547 .31906 .31285 .30684 .30101

 

 67   .35318 .34630 .33963 .33316 .32689 .32081 .31491

 

 68   .36785 .36093 .35422 .34770 .34138 .33524 .32928

 

 69   .38290 .37595 .36920 .36265 .35628 .35009 .34408

 

 70   .39823 .39127 .38450 .37791 .37151 .36529 .35924

 

 71   .41378 .40681 .40003 .39343 .38701 .38076 .37467

 

 72   .42950 .42253 .41575 .40914 .40271 .39644 .39034

 

 73   .44535 .43840 .43162 .42502 .41858 .41231 .40619

 

 74   .46139 .45446 .44771 .44112 .43469 .42842 .42230

 

 75   .47769 .47080 .46408 .45752 .45111 .44485 .43874

 

 76   .49430 .48747 .48079 .47427 .46790 .46167 .45558

 

 77   .51123 .50447 .49786 .49139 .48506 .47888 .47282

 

 78   .52845 .52177 .51523 .50884 .50257 .49645 .49044

 

 79   .54584 .53926 .53282 .52650 .52032 .51426 .50833

 

 80   .56325 .55678 .55044 .54423 .53813 .53216 .52630

 

 81   .58054 .57419 .56797 .56186 .55587 .54999 .54422

 

 82   .59762 .59140 .58530 .57931 .57343 .56766 .56198

 

 83   .61448 .60840 .60243 .59657 .59081 .58515 .57958

 

 84   .63124 .62531 .61949 .61376 .60813 .60259 .59715

 

 85   .64800 .64224 .63657 .63099 .62550 .62010 .61478

 

 86   .66461 .65902 .65351 .64810 .64276 .63751 .63233

 

 87   .68083 .67541 .67008 .66483 .65965 .65455 .64953

 

 88   .69663 .69140 .68624 .68116 .67615 .67121 .66634

 

 89   .71201 .70696 .70199 .69708 .69224 .68747 .68276

 

 90   .72694 .72209 .71730 .71257 .70791 .70330 .69876

 

 91   .74117 .73650 .73190 .72735 .72286 .71842 .71404

 

 92   .75439 .74991 .74548 .74110 .73678 .73251 .72829

 

 93   .76664 .76233 .75806 .75385 .74969 .74557 .74150

 

 94   .77809 .77394 .76983 .76578 .76177 .75780 .75388

 

 95   .78899 .78500 .78106 .77715 .77329 .76947 .76569

 

 96   .79928 .79544 .79165 .78790 .78418 .78050 .77686

 

 97   .80883 .80514 .80149 .79787 .79430 .79075 .78725

 

 98   .81781 .81427 .81075 .80727 .80382 .80041 .79703

 

 99   .82661 .82320 .81982 .81648 .81316 .80988 .80662

 

 100   .83519 .83192 .82868 .82547 .82228 .81913 .81600

 

 101   .84368 .84055 .83744 .83437 .83131 .82829 .82529

 

 102   .85203 .84904 .84607 .84313 .84021 .83731 .83444

 

 103   .86034 .85748 .85465 .85184 .84906 .84629 .84355

 

 104   .86923 .86653 .86385 .86119 .85855 .85593 .85333

 

 105   .87792 .87537 .87283 .87032 .86782 .86534 .86287

 

 106   .88918 .88683 .88450 .88218 .87987 .87758 .87530

 

 107   .90291 .90082 .89873 .89666 .89460 .89255 .89051

 

 108   .92455 .92288 .92123 .91958 .91794 .91630 .91468

 

 109   .96211 .96125 .96041 .95956 .95872 .95788 .95704

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE     9.6%   9.8%  10.0%

 

 =====================================================================

 

 0   .01578 .01546 .01516

 

 1   .00756 .00722 .00691

 

 2   .00753 .00717 .00684

 

 3   .00775 .00737 .00702

 

 4   .00810 .00770 .00733

 

 5   .00856 .00814 .00775

 

 6   .00910 .00865 .00824

 

 7   .00972 .00925 .00881

 

 8   .01041 .00991 .00945

 

 9   .01120 .01068 .01019

 

 10   .01210 .01154 .01103

 

 11   .01310 .01251 .01196

 

 12   .01419 .01357 .01299

 

 13   .01533 .01467 .01407

 

 14   .01646 .01578 .01514

 

 15   .01756 .01684 .01617

 

 16   .01860 .01785 .01714

 

 17   .01960 .01880 .01806

 

 18   .02056 .01972 .01894

 

 19   .02154 .02066 .01984

 

 20   .02258 .02165 .02079

 

 21   .02368 .02271 .02180

 

 22   .02484 .02382 .02286

 

 23   .02608 .02500 .02400

 

 24   .02741 .02628 .02522

 

 25   .02887 .02768 .02656

 

 26   .03044 .02919 .02802

 

 27   .03217 .03085 .02962

 

 28   .03402 .03263 .03133

 

 29   .03600 .03455 .03318

 

 30   .03812 .03659 .03515

 

 31   .04037 .03876 .03725

 

 32   .04276 .04107 .03948

 

 33   .04532 .04355 .04188

 

 34   .04805 .04619 .04444

 

 35   .05097 .04902 .04718

 

 36   .05409 .05205 .05012

 

 37   .05742 .05528 .05325

 

 38   .06099 .05874 .05662

 

 39   .06480 .06245 .06023

 

 40   .06889 .06643 .06411

 

 41   .07329 .07072 .06828

 

 42   .07800 .07531 .07277

 

 43   .08304 .08024 .07758

 

 44   .08841 .08549 .08272

 

 45   .09410 .09106 .08817

 

 46   .10013 .09696 .09395

 

 47   .10646 .10317 .10004

 

 48   .11313 .10972 .10646

 

 49   .12015 .11661 .11322

 

 50   .12754 .12388 .12037

 

 51   .13532 .13153 .12789

 

 52   .14345 .13953 .13577

 

 53   .15194 .14789 .14400

 

 54   .16078 .15661 .15260

 

 55   .17001 .16571 .16157

 

 56   .17962 .17519 .17093

 

 57   .18961 .18507 .18069

 

 58   .19996 .19530 .19080

 

 59   .21062 .20584 .20123

 

 60   .22158 .21669 .21196

 

 61   .23288 .22787 .22304

 

 62   .24456 .23945 .23451

 

 63   .25666 .25145 .24641

 

 64   .26915 .26384 .25870

 

 65   .28203 .27663 .27140

 

 66   .29536 .28987 .28456

 

 67   .30918 .30363 .29823

 

 68   .32349 .31787 .31240

 

 69   .33824 .33256 .32703

 

 70   .35335 .34762 .34204

 

 71   .36875 .36298 .35736

 

 72   .38438 .37858 .37293

 

 73   .40022 .39440 .38872

 

 74   .41632 .41049 .40479

 

 75   .43277 .42693 .42123

 

 76   .44963 .44380 .43811

 

 77   .46690 .46111 .45543

 

 78   .48457 .47881 .47317

 

 79   .50251 .49681 .49122

 

 80   .52056 .51492 .50939

 

 81   .53856 .53300 .52754

 

 82   .55641 .55094 .54557

 

 83   .57411 .56874 .56346

 

 84   .59179 .58652 .58134

 

 85   .60955 .60441 .59934

 

 86   .62724 .62222 .61728

 

 87   .64458 .63970 .63489

 

 88   .66154 .65680 .65213

 

 89   .67811 .67353 .66900

 

 90   .69427 .68984 .68547

 

 91   .70972 .70545 .70123

 

 92   .72412 .72000 .71593

 

 93   .73748 .73350 .72957

 

 94   .75000 .74616 .74237

 

 95   .76195 .75826 .75460

 

 96   .77326 .76970 .76617

 

 97   .78377 .78033 .77693

 

 98   .79368 .79036 .78708

 

 99   .80340 .80020 .79704

 

 100   .81290 .80982 .80678

 

 101   .82231 .81936 .81643

 

 102   .83159 .82876 .82596

 

 103   .84082 .83812 .83544

 

 104   .85074 .84818 .84563

 

 105   .86042 .85799 .85557

 

 106   .87304 .87079 .86855

 

 107   .88849 .88647 .88447

 

 108   .91306 .91145 .90984

 

 109   .95620 .95537 .95455

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE    10.2%  10.4%  10.6%  10.8%  11.0%  11.2%  11.4%

 

 =====================================================================

 

 0   .01488 .01463 .01439 .01417 .01396 .01377 .01359

 

 1   .00662 .00636 .00612 .00589 .00568 .00548 .00530

 

 2   .00654 .00626 .00600 .00576 .00554 .00533 .00514

 

 3   .00670 .00641 .00613 .00588 .00564 .00542 .00522

 

 4   .00699 .00668 .00639 .00612 .00587 .00563 .00542

 

 5   .00739 .00706 .00675 .00646 .00620 .00595 .00571

 

 6   .00786 .00751 .00718 .00687 .00659 .00633 .00608

 

 7   .00841 .00803 .00769 .00736 .00706 .00678 .00652

 

 8   .00902 .00863 .00826 .00791 .00759 .00730 .00702

 

 9   .00973 .00931 .00892 .00856 .00822 .00790 .00760

 

 10   .01055 .01010 .00969 .00930 .00894 .00861 .00829

 

 11   .01146 .01099 .01055 .01014 .00976 .00940 .00907

 

 12   .01246 .01196 .01150 .01106 .01066 .01028 .00993

 

 13   .01351 .01298 .01249 .01204 .01161 .01121 .01084

 

 14   .01455 .01400 .01348 .01300 .01255 .01213 .01173

 

 15   .01555 .01497 .01443 .01392 .01345 .01300 .01259

 

 16   .01648 .01587 .01530 .01477 .01427 .01380 .01336

 

 17   .01737 .01673 .01612 .01556 .01504 .01455 .01408

 

 18   .01822 .01754 .01691 .01632 .01576 .01525 .01476

 

 19   .01908 .01837 .01770 .01708 .01650 .01595 .01544

 

 20   .01999 .01924 .01854 .01788 .01726 .01669 .01615

 

 21   .02096 .02017 .01943 .01874 .01809 .01748 .01691

 

 22   .02197 .02114 .02036 .01963 .01895 .01830 .01770

 

 23   .02306 .02218 .02136 .02059 .01987 .01919 .01855

 

 24   .02424 .02331 .02245 .02163 .02087 .02016 .01948

 

 25   .02552 .02455 .02364 .02278 .02197 .02122 .02051

 

 26   .02692 .02589 .02493 .02403 .02318 .02238 .02162

 

 27   .02846 .02738 .02636 .02541 .02451 .02367 .02287

 

 28   .03012 .02898 .02791 .02690 .02595 .02506 .02422

 

 29   .03190 .03070 .02957 .02851 .02751 .02656 .02567

 

 30   .03381 .03254 .03135 .03023 .02917 .02817 .02723

 

 31   .03583 .03450 .03324 .03206 .03094 .02989 .02890

 

 32   .03799 .03659 .03527 .03402 .03284 .03173 .03068

 

 33   .04031 .03883 .03744 .03612 .03488 .03371 .03260

 

 34   .04279 .04123 .03976 .03838 .03707 .03583 .03465

 

 35   .04545 .04382 .04227 .04081 .03943 .03812 .03688

 

 36   .04830 .04658 .04495 .04341 .04196 .04058 .03927

 

 37   .05134 .04953 .04782 .04620 .04467 .04321 .04183

 

 38   .05462 .05272 .05092 .04921 .04760 .04606 .04461

 

 39   .05812 .05613 .05424 .05245 .05075 .04913 .04760

 

 40   .06190 .05981 .05782 .05594 .05415 .05245 .05083

 

 41   .06597 .06378 .06170 .05972 .05784 .05605 .05435

 

 42   .07035 .06806 .06587 .06380 .06182 .05994 .05815

 

 43   .07505 .07265 .07036 .06818 .06611 .06414 .06225

 

 44   .08008 .07757 .07518 .07290 .07072 .06865 .06667

 

 45   .08542 .08279 .08029 .07791 .07563 .07346 .07138

 

 46   .09108 .08834 .08573 .08324 .08085 .07858 .07640

 

 47   .09705 .09419 .09147 .08886 .08637 .08399 .08172

 

 48   .10335 .10038 .09754 .09482 .09222 .08973 .08735

 

 49   .10999 .10690 .10394 .10111 .09840 .09581 .09332

 

 50   .11701 .11380 .11073 .10778 .10496 .10225 .09965

 

 51   .12441 .12108 .11789 .11482 .11189 .10907 .10636

 

 52   .13217 .12871 .12540 .12222 .11916 .11623 .11341

 

 53   .14028 .13670 .13327 .12997 .12680 .12375 .12082

 

 54   .14875 .14505 .14150 .13808 .13480 .13163 .12859

 

 55   .15760 .15378 .15011 .14657 .14317 .13989 .13674

 

 56   .16684 .16290 .15911 .15546 .15194 .14855 .14528

 

 57   .17648 .17242 .16851 .16474 .16111 .15760 .15422

 

 58   .18647 .18229 .17827 .17438 .17064 .16702 .16353

 

 59   .19678 .19249 .18835 .18435 .18049 .17676 .17316

 

 60   .20740 .20300 .19875 .19464 .19066 .18682 .18311

 

 61   .21837 .21385 .20949 .20527 .20119 .19724 .19341

 

 62   .22973 .22511 .22064 .21631 .21212 .20807 .20414

 

 63   .24152 .23680 .23222 .22779 .22350 .21934 .21530

 

 64   .25372 .24890 .24422 .23969 .23529 .23103 .22690

 

 65   .26633 .26141 .25664 .25201 .24752 .24316 .23893

 

 66   .27940 .27439 .26953 .26481 .26023 .25577 .25145

 

 67   .29299 .28790 .28296 .27815 .27348 .26894 .26453

 

 68   .30709 .30193 .29691 .29202 .28728 .28265 .27816

 

 69   .32166 .31643 .31134 .30639 .30157 .29687 .29230

 

 70   .33661 .33133 .32618 .32116 .31628 .31152 .30688

 

 71   .35188 .34654 .34134 .33627 .33133 .32651 .32181

 

 72   .36742 .36204 .35679 .35168 .34668 .34181 .33706

 

 73   .38317 .37776 .37248 .36733 .36229 .35738 .35257

 

 74   .39923 .39380 .38849 .38330 .37823 .37328 .36844

 

 75   .41566 .41021 .40489 .39968 .39459 .38961 .38474

 

 76   .43254 .42709 .42176 .41655 .41144 .40645 .40156

 

 77   .44988 .44444 .43912 .43391 .42880 .42380 .41891

 

 78   .46765 .46224 .45694 .45174 .44665 .44166 .43677

 

 79   .48574 .48037 .47510 .46993 .46487 .45990 .45502

 

 80   .50397 .49865 .49343 .48830 .48327 .47834 .47349

 

 81   .52219 .51693 .51176 .50669 .50171 .49682 .49201

 

 82   .54029 .53510 .53000 .52499 .52007 .51523 .51047

 

 83   .55826 .55315 .54813 .54319 .53834 .53356 .52886

 

 84   .57624 .57123 .56629 .56144 .55666 .55195 .54732

 

 85   .59435 .58944 .58460 .57984 .57516 .57054 .56599

 

 86   .61241 .60762 .60289 .59824 .59365 .58913 .58468

 

 87   .63015 .62548 .62087 .61633 .61185 .60744 .60309

 

 88   .64753 .64299 .63851 .63409 .62973 .62543 .62118

 

 89   .66454 .66013 .65579 .65150 .64726 .64308 .63895

 

 90   .68115 .67689 .67268 .66853 .66442 .66037 .65637

 

 91   .69706 .69294 .68887 .68486 .68089 .67696 .67309

 

 92   .71190 .70792 .70399 .70011 .69627 .69247 .68872

 

 93   .72569 .72184 .71804 .71429 .71057 .70689 .70326

 

 94   .73861 .73490 .73123 .72759 .72400 .72044 .71692

 

 95   .75097 .74739 .74384 .74033 .73686 .73342 .73002

 

 96   .76267 .75922 .75579 .75240 .74905 .74572 .74243

 

 97   .77356 .77022 .76691 .76363 .76039 .75718 .75399

 

 98   .78382 .78059 .77740 .77423 .77110 .76799 .76491

 

 99   .79390 .79079 .78771 .78465 .78162 .77862 .77565

 

 100   .80376 .80076 .79779 .79485 .79193 .78904 .78617

 

 101   .81353 .81066 .80780 .80497 .80217 .79938 .79662

 

 102   .82318 .82042 .81768 .81496 .81227 .80960 .80694

 

 103   .83278 .83014 .82752 .82491 .82233 .81977 .81723

 

 104   .84310 .84059 .83810 .83563 .83317 .83073 .82831

 

 105   .85318 .85079 .84843 .84607 .84374 .84142 .83911

 

 106   .86633 .86413 .86193 .85975 .85758 .85543 .85329

 

 107   .88247 .88049 .87852 .87656 .87460 .87266 .87073

 

 108   .90825 .90666 .90507 .90350 .90193 .90037 .89881

 

 109   .95372 .95290 .95208 .95126 .95045 .94964 .94883

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE    11.6%  11.8%  12.0%

 

 =====================================================================

 

 0   .01343 .01327 .01312

 

 1   .00513 .00497 .00482

 

 2   .00496 .00479 .00463

 

 3   .00502 .00484 .00468

 

 4   .00521 .00502 .00484

 

 5   .00550 .00529 .00510

 

 6   .00585 .00563 .00543

 

 7   .00627 .00604 .00582

 

 8   .00675 .00651 .00628

 

 9   .00733 .00706 .00682

 

 10   .00799 .00772 .00746

 

 11   .00875 .00846 .00818

 

 12   .00960 .00928 .00899

 

 13   .01049 .01016 .00985

 

 14   .01136 .01102 .01069

 

 15   .01220 .01183 .01148

 

 16   .01295 .01257 .01220

 

 17   .01365 .01324 .01286

 

 18   .01430 .01387 .01347

 

 19   .01495 .01450 .01407

 

 20   .01564 .01516 .01471

 

 21   .01637 .01586 .01539

 

 22   .01713 .01660 .01610

 

 23   .01795 .01739 .01686

 

 24   .01885 .01825 .01769

 

 25   .01984 .01920 .01861

 

 26   .02091 .02025 .01961

 

 27   .02212 .02141 .02074

 

 28   .02342 .02267 .02196

 

 29   .02483 .02404 .02329

 

 30   .02634 .02551 .02471

 

 31   .02796 .02707 .02623

 

 32   .02968 .02874 .02785

 

 33   .03155 .03055 .02961

 

 34   .03354 .03249 .03149

 

 35   .03571 .03459 .03354

 

 36   .03803 .03685 .03573

 

 37   .04052 .03928 .03809

 

 38   .04322 .04191 .04066

 

 39   .04614 .04475 .04343

 

 40   .04929 .04783 .04643

 

 41   .05272 .05118 .04970

 

 42   .05644 .05481 .05326

 

 43   .06045 .05874 .05710

 

 44   .06478 .06298 .06125

 

 45   .06940 .06750 .06569

 

 46   .07432 .07233 .07043

 

 47   .07954 .07745 .07545

 

 48   .08507 .08288 .08078

 

 49   .09093 .08864 .08644

 

 50   .09716 .09477 .09247

 

 51   .10376 .10126 .09886

 

 52   .11071 .10810 .10560

 

 53   .11801 .11529 .11268

 

 54   .12566 .12284 .12012

 

 55   .13370 .13077 .12794

 

 56   .14213 .13909 .13615

 

 57   .15096 .14781 .14477

 

 58   .16015 .15689 .15374

 

 59   .16968 .16631 .16305

 

 60   .17952 .17604 .17268

 

 61   .18971 .18613 .18266

 

 62   .20033 .19664 .19306

 

 63   .21139 .20760 .20392

 

 64   .22289 .21899 .21521

 

 65   .23482 .23083 .22695

 

 66   .24724 .24316 .23918

 

 67   .26024 .25606 .25200

 

 68   .27378 .26952 .26537

 

 69   .28785 .28351 .27928

 

 70   .30235 .29794 .29364

 

 71   .31722 .31275 .30838

 

 72   .33241 .32788 .32345

 

 73   .34788 .34330 .33882

 

 74   .36370 .35908 .35455

 

 75   .37997 .37531 .37074

 

 76   .39677 .39208 .38749

 

 77   .41411 .40940 .40479

 

 78   .43197 .42726 .42265

 

 79   .45024 .44554 .44094

 

 80   .46873 .46406 .45947

 

 81   .48729 .48265 .47809

 

 82   .50580 .50120 .49667

 

 83   .52424 .51969 .51522

 

 84   .54277 .53828 .53386

 

 85   .56151 .55710 .55275

 

 86   .58029 .57596 .57170

 

 87   .59880 .59456 .59039

 

 88   .61700 .61287 .60879

 

 89   .63488 .63086 .62689

 

 90   .65241 .64851 .64465

 

 91   .66925 .66547 .66173

 

 92   .68501 .68134 .67771

 

 93   .69967 .69611 .69259

 

 94   .71344 .71000 .70659

 

 95   .72665 .72331 .72001

 

 96   .73917 .73595 .73275

 

 97   .75084 .74772 .74463

 

 98   .76186 .75884 .75584

 

 99   .77270 .76978 .76688

 

 100   .78333 .78051 .77771

 

 101   .79388 .79117 .78847

 

 102   .80431 .80170 .79911

 

 103   .81470 .81220 .80971

 

 104   .82591 .82352 .82115

 

 105   .83682 .83455 .83229

 

 106   .85116 .84904 .84694

 

 107   .86881 .86690 .86500

 

 108   .89727 .89572 .89419

 

 109   .94803 .94723 .94643

 

 _____________________________________________________________________

 

 INTEREST RATE

 

 =====================================================================

 

 AGE    12.2%  12.4%  12.6%  12.8%  13.0%  13.2%  13.4%

 

 =====================================================================

 

 0   .01298 .01285 .01273 .01261 .01250 .01240 .01230

 

 1   .00468 .00455 .00443 .00431 .00420 .00410 .00400

 

 2   .00448 .00435 .00421 .00409 .00398 .00387 .00376

 

 3   .00452 .00437 .00423 .00410 .00398 .00386 .00375

 

 4   .00468 .00452 .00437 .00423 .00410 .00397 .00386

 

 5   .00493 .00476 .00460 .00445 .00431 .00418 .00405

 

 6   .00524 .00506 .00489 .00473 .00458 .00444 .00430

 

 7   .00562 .00543 .00525 .00508 .00492 .00477 .00462

 

 8   .00606 .00586 .00566 .00548 .00531 .00515 .00499

 

 9   .00659 .00637 .00616 .00597 .00579 .00561 .00545

 

 10   .00721 .00698 .00676 .00655 .00636 .00617 .00600

 

 11   .00792 .00767 .00744 .00722 .00701 .00682 .00663

 

 12   .00871 .00845 .00821 .00797 .00775 .00754 .00735

 

 13   .00955 .00928 .00902 .00877 .00854 .00831 .00810

 

 14   .01038 .01009 .00981 .00955 .00930 .00907 .00885

 

 15   .01116 .01085 .01056 .01028 .01002 .00977 .00954

 

 16   .01186 .01153 .01123 .01094 .01066 .01040 .01015

 

 17   .01250 .01215 .01183 .01152 .01124 .01096 .01070

 

 18   .01308 .01272 .01238 .01206 .01175 .01147 .01119

 

 19   .01367 .01329 .01293 .01259 .01227 .01196 .01167

 

 20   .01428 .01388 .01350 .01314 .01280 .01248 .01217

 

 21   .01494 .01451 .01411 .01373 .01337 .01303 .01271

 

 22   .01562 .01517 .01475 .01435 .01397 .01361 .01326

 

 23   .01635 .01588 .01543 .01501 .01460 .01422 .01386

 

 24   .01716 .01665 .01618 .01573 .01530 .01489 .01451

 

 25   .01804 .01751 .01701 .01653 .01608 .01565 .01524

 

 26   .01902 .01845 .01792 .01741 .01693 .01648 .01604

 

 27   .02011 .01951 .01895 .01841 .01790 .01742 .01696

 

 28   .02129 .02066 .02006 .01949 .01895 .01844 .01795

 

 29   .02258 .02191 .02127 .02067 .02009 .01955 .01903

 

 30   .02396 .02325 .02257 .02193 .02132 .02074 .02019

 

 31   .02543 .02467 .02396 .02328 .02263 .02201 .02143

 

 32   .02701 .02621 .02545 .02472 .02404 .02338 .02276

 

 33   .02871 .02786 .02706 .02629 .02556 .02487 .02420

 

 34   .03054 .02964 .02879 .02797 .02720 .02646 .02576

 

 35   .03253 .03158 .03067 .02981 .02898 .02820 .02745

 

 36   .03467 .03366 .03269 .03178 .03090 .03007 .02928

 

 37   .03697 .03590 .03488 .03391 .03298 .03209 .03125

 

 38   .03947 .03833 .03725 .03622 .03524 .03430 .03340

 

 39   .04217 .04096 .03982 .03873 .03768 .03669 .03573

 

 40   .04510 .04383 .04262 .04146 .04035 .03930 .03828

 

 41   .04830 .04695 .04567 .04445 .04327 .04215 .04108

 

 42   .05177 .05035 .04900 .04770 .04646 .04527 .04413

 

 43   .05553 .05404 .05261 .05123 .04992 .04866 .04746

 

 44   .05960 .05802 .05651 .05506 .05368 .05235 .05107

 

 45   .06395 .06229 .06069 .05917 .05770 .05630 .05495

 

 46   .06860 .06685 .06517 .06356 .06202 .06053 .05911

 

 47   .07353 .07169 .06992 .06823 .06660 .06504 .06353

 

 48   .07877 .07684 .07498 .07320 .07149 .06984 .06826

 

 49   .08433 .08231 .08036 .07849 .07669 .07495 .07329

 

 50   .09026 .08814 .08609 .08413 .08224 .08042 .07867

 

 51   .09655 .09433 .09219 .09013 .08815 .08624 .08440

 

 52   .10318 .10086 .09863 .09647 .09439 .09239 .09046

 

 53   .11017 .10774 .10541 .10315 .10098 .09888 .09686

 

 54   .11750 .11498 .11254 .11019 .10792 .10572 .10361

 

 55   .12522 .12258 .12005 .11759 .11522 .11294 .11072

 

 56   .13332 .13059 .12794 .12539 .12292 .12054 .11823

 

 57   .14183 .13899 .13624 .13359 .13102 .12853 .12613

 

 58   .15070 .14775 .14490 .14215 .13948 .13689 .13439

 

 59   .15990 .15685 .15389 .15103 .14826 .14558 .14298

 

 60   .16942 .16626 .16321 .16024 .15737 .15459 .15189

 

 61   .17929 .17603 .17287 .16981 .16684 .16395 .16115

 

 62   .18960 .18623 .18297 .17980 .17673 .17375 .17085

 

 63   .20035 .19688 .19352 .19025 .18708 .18400 .18100

 

 64   .21154 .20797 .20451 .20114 .19787 .19469 .19159

 

 65   .22318 .21951 .21595 .21249 .20912 .20584 .20265

 

 66   .23532 .23156 .22790 .22434 .22088 .21751 .21422

 

 67   .24804 .24419 .24044 .23679 .23324 .22977 .22640

 

 68   .26133 .25740 .25356 .24983 .24618 .24263 .23917

 

 69   .27516 .27114 .26723 .26341 .25969 .25605 .25251

 

 70   .28945 .28536 .28137 .27747 .27367 .26996 .26633

 

 71   .30412 .29996 .29590 .29193 .28806 .28427 .28057

 

 72   .31913 .31491 .31078 .30675 .30281 .29895 .29519

 

 73   .33444 .33016 .32597 .32188 .31788 .31396 .31013

 

 74   .35012 .34579 .34155 .33741 .33335 .32938 .32549

 

 75   .36628 .36190 .35762 .35343 .34932 .34530 .34136

 

 76   .38299 .37858 .37427 .37004 .36589 .36183 .35784

 

 77   .40028 .39585 .39151 .38725 .38307 .37898 .37496

 

 78   .41812 .41368 .40933 .40506 .40086 .39675 .39271

 

 79   .43641 .43198 .42762 .42334 .41914 .41502 .41096

 

 80   .45496 .45054 .44619 .44192 .43772 .43360 .42954

 

 81   .47360 .46920 .46487 .46061 .45643 .45231 .44827

 

 82   .49223 .48785 .48355 .47932 .47516 .47106 .46703

 

 83   .51081 .50648 .50221 .49802 .49388 .48982 .48581

 

 84   .52951 .52523 .52101 .51686 .51277 .50874 .50477

 

 85   .54847 .54425 .54009 .53600 .53196 .52798 .52406

 

 86   .56749 .56335 .55926 .55523 .55126 .54734 .54348

 

 87   .58627 .58221 .57820 .57425 .57035 .56650 .56270

 

 88   .60477 .60079 .59688 .59301 .58919 .58542 .58170

 

 89   .62297 .61909 .61527 .61149 .60776 .60408 .60044

 

 90   .64084 .63707 .63335 .62968 .62604 .62246 .61891

 

 91   .65803 .65437 .65076 .64719 .64366 .64017 .63672

 

 92   .67412 .67058 .66707 .66360 .66017 .65678 .65342

 

 93   .68911 .68567 .68227 .67890 .67557 .67227 .66901

 

 94   .70321 .69988 .69657 .69330 .69006 .68686 .68369

 

 95   .71674 .71351 .71031 .70713 .70399 .70088 .69781

 

 96   .72959 .72646 .72335 .72028 .71724 .71422 .71123

 

 97   .74156 .73853 .73552 .73254 .72959 .72666 .72376

 

 98   .75287 .74993 .74702 .74413 .74126 .73842 .73561

 

 99   .76401 .76117 .75834 .75555 .75277 .75002 .74730

 

 100   .77494 .77219 .76946 .76676 .76408 .76142 .75878

 

 101   .78580 .78315 .78052 .77791 .77532 .77275 .77021

 

 102   .79654 .79399 .79146 .78894 .78645 .78397 .78152

 

 103   .80724 .80479 .80236 .79994 .79755 .79517 .79280

 

 104   .81879 .81646 .81413 .81183 .80954 .80726 .80501

 

 105   .83005 .82782 .82560 .82340 .82121 .81904 .81688

 

 106   .84485 .84277 .84071 .83866 .83662 .83459 .83257

 

 107   .86311 .86124 .85937 .85751 .85566 .85382 .85199

 

 108   .89266 .89114 .88963 .88812 .88662 .88513 .88364

 

 109   .94563 .94484 .94405 .94326 .94248 .94170 .94092

 

 _____________________________________________________________________

 

 [table continued]

 

 =====================================================================

 

 AGE    13.6%  13.8%  14.0%

 

 =====================================================================

 

 0   .01221 .01212 .01203

 

 1   .00391 .00382 .00374

 

 2   .00366 .00357 .00348

 

 3   .00365 .00355 .00345

 

 4   .00375 .00364 .00354

 

 5   .00393 .00382 .00371

 

 6   .00418 .00406 .00394

 

 7   .00449 .00436 .00423

 

 8   .00485 .00471 .00458

 

 9   .00529 .00514 .00500

 

 10   .00583 .00567 .00552

 

 11   .00645 .00628 .00612

 

 12   .00716 .00698 .00681

 

 13   .00790 .00771 .00753

 

 14   .00864 .00843 .00824

 

 15   .00932 .00910 .00890

 

 16   .00992 .00969 .00948

 

 17   .01045 .01022 .00999

 

 18   .01093 .01068 .01044

 

 19   .01140 .01113 .01088

 

 20   .01188 .01161 .01134

 

 21   .01240 .01211 .01183

 

 22   .01294 .01263 .01233

 

 23   .01351 .01319 .01287

 

 24   .01415 .01380 .01347

 

 25   .01485 .01448 .01413

 

 26   .01563 .01524 .01487

 

 27   .01652 .01610 .01571

 

 28   .01748 .01704 .01662

 

 29   .01853 .01806 .01762

 

 30   .01966 .01916 .01869

 

 31   .02087 .02034 .01983

 

 32   .02217 .02160 .02106

 

 33   .02357 .02297 .02240

 

 34   .02509 .02445 .02383

 

 35   .02674 .02606 .02541

 

 36   .02852 .02779 .02710

 

 37   .03044 .02967 .02893

 

 38   .03254 .03172 .03094

 

 39   .03482 .03395 .03312

 

 40   .03732 .03639 .03550

 

 41   .04005 .03907 .03812

 

 42   .04304 .04200 .04100

 

 43   .04630 .04520 .04413

 

 44   .04985 .04867 .04754

 

 45   .05365 .05241 .05121

 

 46   .05774 .05643 .05516

 

 47   .06209 .06070 .05936

 

 48   .06673 .06527 .06385

 

 49   .07168 .07013 .06864

 

 50   .07698 .07535 .07378

 

 51   .08262 .08091 .07926

 

 52   .08860 .08680 .08506

 

 53   .09491 .09302 .09120

 

 54   .10156 .09958 .09767

 

 55   .10859 .10652 .10451

 

 56   .11599 .11383 .11174

 

 57   .12380 .12154 .11936

 

 58   .13197 .12962 .12734

 

 59   .14046 .13801 .13564

 

 60   .14927 .14673 .14426

 

 61   .15844 .15580 .15324

 

 62   .16803 .16530 .16264

 

 63   .17809 .17525 .17250

 

 64   .18859 .18566 .18281

 

 65   .19955 .19652 .19358

 

 66   .21102 .20791 .20487

 

 67   .22311 .21990 .21678

 

 68   .23579 .23250 .22929

 

 69   .24905 .24567 .24237

 

 70   .26279 .25934 .25596

 

 71   .27696 .27343 .26998

 

 72   .29150 .28790 .28438

 

 73   .30638 .30271 .29913

 

 74   .32168 .31795 .31430

 

 75   .33750 .33372 .33001

 

 76   .35394 .35011 .34636

 

 77   .37103 .36716 .36337

 

 78   .38874 .38485 .38103

 

 79   .40698 .40308 .39924

 

 80   .42556 .42164 .41779

 

 81   .44429 .44038 .43653

 

 82   .46307 .45916 .45532

 

 83   .48187 .47799 .47416

 

 84   .50086 .49701 .49321

 

 85   .52019 .51638 .51262

 

 86   .53966 .53591 .53220

 

 87   .55895 .55526 .55161

 

 88   .57802 .57439 .57081

 

 89   .59685 .59330 .58979

 

 90   .61540 .61194 .60851

 

 91   .63330 .62993 .62659

 

 92   .65010 .64682 .64357

 

 93   .66578 .66258 .65942

 

 94   .68055 .67744 .67437

 

 95   .69476 .69174 .68875

 

 96   .70828 .70534 .70244

 

 97   .72089 .71804 .71522

 

 98   .73282 .73006 .72732

 

 99   .74459 .74191 .73926

 

 100   .75616 .75357 .75099

 

 101   .76768 .76517 .76268

 

 102   .77908 .77666 .77426

 

 103   .79046 .78813 .78582

 

 104   .80276 .80054 .79832

 

 105   .81474 .81260 .81049

 

 106   .83057 .82857 .82659

 

 107   .85017 .84835 .84655

 

 108   .88216 .88068 .87922

 

 109   .94014 .93937 .93860

 

 _____________________________________________________________________

 

 LIFE TABLE

 

 TABLE 90CM

 

 APPLICABLE AFTER APRIL 30, 1999

 

 Age x       l(x)          Age x        l(x)          Age x      l(x)

 

 =====================================================================

 

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

 

 0       100000           37         95969           74       62852

 

 1        99064           38         95780           75       60449

 

 2        98992           39         95581           76       57955

 

 3        98944           40         95373           77       55373

 

 4        98907           41         95156           78       52704

 

 5        98877           42         94928           79       49943

 

 6        98850           43         94687           80       47084

 

 7        98826           44         94431           81       44129

 

 8        98803           45         94154           82       41091

 

 9        98783           46         93855           83       37994

 

 10        98766           47         93528           84       34876

 

 11        98750           48         93173           85       31770

 

 12        98734           49         92787           86       28687

 

 13        98713           50         92370           87       25638

 

 14        98681           51         91918           88       22658

 

 15        98635           52         91424           89       19783

 

 16        98573           53         90885           90       17046

 

 17        98497           54         90297           91       14466

 

 18        98409           55         89658           92       12066

 

 19        98314           56         88965           93        9884

 

 20        98215           57         88214           94        7951

 

 21        98113           58         87397           95        6282

 

 22        98006           59         86506           96        4868

 

 23        97896           60         85537           97        3694

 

 24        97784           61         84490           98        2745

 

 25        97671           62         83368           99        1999

 

 26        97556           63         82169          100        1424

 

 27        97441           64         80887          101         991

 

 28        97322           65         79519          102         672

 

 29        97199           66         78066          103         443

 

 30        97070           67         76531          104         284

 

 31        96934           68         74907          105         175

 

 32        96791           69         73186          106         105

 

 33        96642           70         71357          107          60

 

 34        96485           71         69411          108          33

 

 35        96322           72         67344          109          17

 

 36        96150           73         65154          110           0

 

 _____________________________________________________________________

 

 

(e) Effective dates. This section applies after April 30, 1999.

Par. 20 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 20.2031-7T(d) in the case of decedents where the valuation date of the gross estate is after April 30, 1999, or under section 20.2031-7A in the case of decedents where the valuation date of the gross estate is before May 1, 1999.

* * * * *

Par. 21. Section 20.7520-1 is amended as follows:

1. Paragraph (b)(2), last two sentences are revised.

2. Headings for paragraphs (c)(1) and (c)(2) are revised.

3. Paragraph (c)(2) introductory text is revised.

4. Paragraph (c)(2)(iii) is amended by removing the first two sentences and adding one sentence in their place.

5. Paragraph (d) is revised.

The revised and added provisions read as follows:

Section 20.7520-1 Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests.

* * * * *

(b) * * *

(2) * * * For decedents' estates with valuation dates after April 30, 1989, and before May 1, 1999, the mortality component table (Table 80CNSMT) is included in section 20.2031-7A(e)(4). See section 20.2031-7A(a) through (d) for mortality component tables applicable to decedents' estates with valuation dates before May 1, 1989.

(c) * * *

(1) Regulations sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1989, and before May 1, 1999. * * *

(2) Internal Revenue Service publications containing tables with interest rates between 2.2. and 26 percent for valuation dates after April 30, 1989, and before May 1, 1999. The following publications are no longer available from the Superintendent of Documents, however, they may be obtained from: CC:DOM:CORP:R, room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044:

* * * * *

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89). * * *

(d) Effective date. This section applies after April 30, 1989, and before May 1, 1999.

Par. 22. Section 20.7520-1T is added to read as follows:

Section 20.7520-1T Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests (temporary).

(a) (1) [Reserved]. For further guidance, see section 20.7520-1(a)1).

(2) In the case of a transfer to a pooled income fund with a valuation date after April 30, 1999, see section 1.642(c)-6T(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.

(a)(3) through (b)(1) [Reserved]. For further guidance, see section 20.7520-1(a)(3) through (b)(1).

(b)(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 mortality component tables will be published in the regulations at that time. For decedents' estates with valuation dates after April 30, 1999, the mortality component table (Table 90CM) is included in section 20.2031-7T(d)(7). See section 20.2031-7A for mortality component tables applicable to decedent's estates with valuation dates before May 1, 1999.

(c) [Reserved]. For further guidance, see section 20.7520-1(c).

(1) Regulation sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1999. Section 1.642(c)-6T(e)(6) 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. See section 1.642(c)-6A of this chapter for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 1.664-4(e)(6) of this chapter contains Table F (payout factors) and Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years). Section 1.664-4T(e)(7) of this chapter contains Table U(1) (actuarial factors for one life). These tables are 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. See section 1.664-4A of this chapter for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 20.2031-7(d)(6) contains 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), and Table J (term certain annuity beginning-of-interval adjustment factors). Section 20.2031-7T(d)(7) contains Table S (actuarial factors for one life) and Table 90CM (mortality components). These tables are used in determining the present value of annuities, life estates, remainders, and reversions. See section 20.2031-7A for actuarial factors for one life and mortality components applicable to valuation dates before May 1, 1999.

(2) Internal Revenue Service publications containing tables with interest rates between 2.2 and 26 percent for valuation dates after April 30, 1999. The following documents are available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). 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, Book Beth," (1999). 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, Book Gimel," (1999). This publication includes tables for computing depreciation adjustment factors. See section 1.170A-12T of this chapter.

(d) Effective date. This section applies after April 30, 1999.

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

Par. 23. The authority citation for part 25 is amended by adding entries in numerical order to read in part as follows:

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

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

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

Par. 24. Section 25.2512-0 is revised 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 interest 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.

 

 Section 25.2512-5T  Valuation of annuities, unitrust interests, interests for life or

 

   term of years, and remainder or reversionary interests (temporary).

 

 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, 1999

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, 1999.

Par. 25. Section 25.2512-5 is amended as follows:

1. The section heading is revised.

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

3. Paragraph (e) is revised.

The revised provisions read as follows:

Section 25.2512-5 Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests.

* * * * *

(c) and (d) [Reserved]. For further guidance, see section 25.2512-5T(c) and (d).

(e) Effective date. This section applies after April 30, 1989, and before May 1, 1999.

Par. 26. Section 25.2512-5T is added to read as follows:

Section 25.2512-5T Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests (temporary).

(a) and (b) [Reserved]. For further guidance, see section 25.2512-5(a) and (b).

(c) Actuarial valuations. The present value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions transferred by gift after April 30, 1999, is determined under paragraph (d) of this section. The present value of annuities, unitrust interests, life estates, terms of years, remainders, and reversions transferred by gift before May 1, 1999, 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)

 

 04-30-89      05-01-99         25.2512-5A(e)

 

 

(d) Actuarial valuations after April 30, 1999--(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, 1999, the fair market value of annuities, life estates, terms of years, remainders, and reversions transferred after April 30, 1999, is the present value of such interests determined under paragraph (d)(2) of this section and 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, is its value determined under section 1.642(c)-6T(e) of this chapter (see section 1.642(c)-6A for certain prior periods). 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 1.664-4T(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 1.664-4T(e)(4) and (5) 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 the appropriate Table S (for one measuring life), as the case may be. Table B is contained in section 20.2031-7(d) of this chapter and Table S (for one measuring life when the valuation date is after April 30, 1999) is included in section 20.2031-7T(d)(7) of this chapter and Internal Revenue Service Publication 1457. See section 20.2031-7A(e)(4) of this chapter containing Table S and Life Table 80CNSMT for valuation of interests after April 30, 1989, and before May 1, 1999. 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 (for one measuring life when the valuation date is after April 30, 1999). However, term-of-years and life interest actuarial factors are not included in Table B in section 20.2031-7(d)(6) or Table S in section 20.2031-7T(d)(7) (or in section 20.2031-7A(e)(4)) 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) in section 20.2031-7(d)(6) of this chapter or in Table S (for the life of one individual) in section 20.2031-7T(d)(7) of this chapter, 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 when the valuation date is after April 30, 1999). However, annuity actuarial factors are not included in Table B in section 20.2031-7(d)(6) of this chapter or Table S in section 20.2031-7T(d)(7) (or in section 20.2031-7A(e)(4)) 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) in section 20.2031-7(d)(6) of this chapter or in Table S (in the case of a one-life annuity) in section 20.2031-7T(d)(7) of this chapter, 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 20.2031-7T(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. In July, the donor agreed 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 the date of the agreement, the annuitant is 68 years and 5 months old. The donee annuitant's age is treated as 68 for purposes of computing the present value of the annuity. The section 7520 rate on the date of the agreement is 10.6 percent. Under Table S in section 20.2031-7T(d)(7) of this chapter, 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 .29691. 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 6.6329 (1.00000 minus .29691 divided by .106). The adjustment factor from Table K in section 20.2031-7(d)(6) of this chapter 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 6.6329 and the product multiplied by 1.0258. The present value of the donee's annuity is, therefore, $68,040.29 ($10,000 X 6.6329 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 sections 20.2031-7(d)(6) and 20.2031-7T(d)(7) of this chapter as described in the following example:

Example. 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. At the time of the transfer, 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 the month in which the transfer occurred is 9.8 percent. The present value of the donor's retained interest is $35,709.13, determined as follows:

 TABLE S  value at 9.8 percent, age 60 ...........   .21669

 

 TABLE S  value at 9.8 percent, age 70 ...........   .34762

 

 TABLE 90CM  value at age 70  ....................    71357

 

 TABLE 90CM  value at age 60  ....................    85537

 

 TABLE B  value at 9.8 percent, 10 years .........  .392624

 

 TABLE K  value at 9.8 percent ...................   1.0239

 

 Factor for donor's retained interest at 9.8 percent:

 

 (1.00000 - .21669) - (.392624 X (71357/85537) X

 

 (1.00000 - .34762)) = 5.8126

 

 _______________________________________________

 

 .098

 

 Present value of donor's retained interest:

 

 ($6,000 X 5.8126 X 1.0239) ...........   $35,709.13

 

 

(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 sections 1.664-4(e)(6) and 1.664-4T(e)(7) of this chapter 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 1st. 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 the January in which the transfer occurred is 9.8 percent. Under Table F(9.8) in section 1.664-4(e)(6) of this chapter, 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 donor's retained interest is $40,848.00 determined as follows:

 TABLE U(1)  value at 5.6 percent, age 60 .....    .35375

 

 TABLE U(1)  value at 5.6 percent, age 70 .....    .49342

 

 TABLE 90CM  value at age 70 ..................     71357

 

 TABLE 90CM  value at age 60 ..................     85537

 

 TABLE D  value at 5.6 percent, 10 years  .....   .561979

 

 Factor for donor's retained interest at 5.6 percent:

 

 (1.000000 - .35375) - (.561979 X (71357/85537) X

 

 (1.000000 - .49342))  =  .40876

 

 TABLE U(1)  value at 5.4 percent, age 60 ......   .36542

 

 TABLE U(1)  value at 5.4 percent, age 70 ......   .50473

 

 TABLE 90CM  value at age 70 ...................    71357

 

 TABLE 90CM  value at age 60 ...................    85537

 

 TABLE D  value at 5.4 percent, 10 years  ......  .573999

 

 Factor for donor's retained interest at 5.4 percent:

 

 (1.000000 - .36542) - (.573999 X (71357/85537) X

 

 (1.000000 - .50473))  =  .39742

 

 ______

 

 Difference       .01134

 

 Interpolation adjustment:

 

 5.595% - 5.4%    =    x

 

 ____________       ______

 

 0.2%           .01134

 

 x    =  .01106

 

 Factor at 5.4 percent, age 60 ...........         .39742

 

 Plus: Interpolation adjustment  .........         .01106

 

 Interpolated Factor .....................         .40848

 

 Present value of donor's retained interest:

 

 ($100,000 X .40848) ......     $40,848.00

 

 

(3) Transitional rule. If the valuation date of a transfer of property by gift is after April 30, 1999, and before July 1, 1999, the fair market value of the interest transferred is determined by use of the section 7520 interest rate for the month in which the valuation date occurs (See sections 25.7520-1(b) and 25.7520-2(a)(2)) and the appropriate actuarial tables under either paragraph (d)(2) of this section or section 25.2512-5A(e), at the option of the donor. However, with respect to each individual transaction and with respect to all transfers occurring on the valuation date, the donor must use the same actuarial tables (e.g., gift and income tax charitable deductions with respect to the same transfer must be determined based on the same tables, and all transfers made on the same date must be valued based on the same tables).

(4) Publications and actuarial computations by the Internal Revenue Service. Many standard actuarial factors not included in section 20.2031-7(d)(6) or section 20.2031-7T(d)(7) of this chapter are included in Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). 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 is available for purchase 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 dates. This section applies after April 30, 1999.

Par. 27. The undesignated centerheading immediately following section 25.2518-3 is revised to read as follows:

Actuarial Tables Applicable Before May 1, 1999

Par. 28. Section 25.2512-5A is amended by:

1. Revising the section heading.

2. Adding paragraph (e).

The revision and addition 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, 1999.

* * * * *

(e) Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests transferred after April 30, 1989, and before May 1, 1999--(1) In general. Except as otherwise provided in sections 25.2512-5(b) and 25.7520-3(b) (pertaining to certain limitations on the use of prescribed tables), if the valuation date of the transferred interest is after April 30, 1989, and before May 1, 1999, 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 by use of standard or special section 7520 actuarial factors and the valuation methodology described in section 25.2512-5T(d). Sections 20.2031-7(d)(6) and 20.2031-7A(e)(4) of this chapter 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.

(2) 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 paragraph (e) or paragraph (d) of this section.

(3) Publications and actuarial computations by the Internal Revenue Service. Many standard actuarial factors not included in sections 20.2031-7(d)(6) and 20.2031-7A(e)(4) 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. Publication 1457 is no longer available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402. However, pertinent factors in this publication may be obtained from: CC:DOM:CORP:R (IRS Publication 1457), room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. If a special factor is required in the case of a completed gift, the Internal Revenue 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.

Par. 29. Section 25.7520-1 is amended as follows:

1. Paragraph (b)(2), the last two sentences are revised.

2. The headings for paragraphs (c)(1) and (c)(2) are revised.

3. Paragraph (c)(2) introductory text is revised.

4. Paragraph (c)(2)(iii) is amended by removing the first two sentences and adding one sentence in their place.

5. Paragraph (d) is revised.

The revised and added provisions read as follows:

Section 25.7520-1 Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests.

* * * * *

(b) * * *

(2) * * * For gifts with valuation dates after April 30, 1989, and before May 1, 1999, the mortality component table (Table 80CNSMT) is included in section 20.2031-7A(e)(4) of this chapter. See section 20.2031-7A(a) through (d) of this chapter for mortality component tables applicable to decedents' estates with valuation dates before May 1, 1989.

(c) * * *

(1) Regulations sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1989, and before May 1, 1999. * * *

(2) Internal Revenue Service publications containing tables with interest rates between 2.2. and 26 percent for valuation dates after April 30, 1989, and before May 1, 1999. The following publications are no longer available from the Superintendent of Documents, however, they may be obtained from: CC:DOM:CORP:R, room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044:

* * * * *

(iii) Internal Revenue Service Publication 1459, "Actuarial Values, Gamma Volume," (8-89). * * *

(d) Effective date. This section applies after April 30, 1989, and before May 1, 1999.

Par. 30. Section 25.7520-1T is added to read as follows:

Section 25.7520-1T Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests (temporary).

(a) through (b) (1) [Reserved]. For further guidance, see section 25.7520-1(a) through (b)(1).

(b)(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 mortality component tables will be published in the regulations at that time. For gifts with valuation dates after April 30, 1999, the mortality component table (Table 90CM) is included in section 20.2031-7T(d)(7) of this chapter. See section 20.2031-7A of this chapter for mortality component tables applicable to decedent's estates with valuation dates before May 1, 1999.

(c) [Reserved]. For further guidance, see section 25.7520-1(c).

(1) Regulation sections containing tables with interest rates between 4.2 and 14 percent for valuation dates after April 30, 1999. Section 1.642(c)-6T(e)(6) 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. See section 1.642(c)-6A for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 1.664-4(e)(6) of this chapter contains Table F (payout factors) and Table D (actuarial factors used in determining the present value of a remainder interest postponed for a term of years). Section 1.664-4T(e)(7) of this chapter contains, Table U(1) (actuarial factors for one life). These tables are 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. See section 1.664-4A for actuarial factors for one life applicable to valuation dates before May 1, 1999. Section 20.2031-7(d)(6) of this chapter contains 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). Section 20.2031-7T(d)(7) of this chapter contains Table S (actuarial factors for one life) and Table 90CM (mortality components). These tables are used in determining the present value of annuities, life estates, remainders, and reversions. See section 20.2031-7A of this chapter for actuarial factors for one life and mortality components applicable to valuation dates before May 1, 1999.

(2) Internal Revenue Service publications containing tables with interest rates between 2.2 and 26 percent for valuation dates after April 30, 1999. The following documents are available for purchase from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402:

(i) Internal Revenue Service Publication 1457, "Actuarial Values, Book Aleph," (1999). 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, Book Beth," (1999). 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, Book Gimel," (1999). This publication includes tables for computing depreciation adjustment factors. See section 1.170A-12T of this chapter.

(d) Effective date. This section applies after April 30, 1999.

Par. 31. Section 25.7520-3 is amended as follows:

1. In paragraph (b)(2)(v), Example 5 is revised.

2. In paragraph (b)(4), the Example is revised.

The revised examples read as follows:

Section 25.7520-3 Limitation on the application of section 7520.

* * * * *

(b) * * *

(2) * * *

(v) * **

Example 5. Eroding corpus in an annuity trust. (i) The donor, who is age 60 and in normal health, transfers property worth $1,000,000 to a trust. The trust will pay a 10 percent ($100,000 per year) annuity to a charitable organization for the life of the donor, payable annually at the end of each period, and the remainder will be distributed to the donor's child. The section 7520 rate for the month of the transfer is 6.8 percent. First, it is necessary to determine whether the annuity may exhaust the corpus before all annuity payments are made. Because it is assumed that any measuring life may survive until age 110, any life annuity could require payments until the measuring life reaches age 110. Based on a section 7520 interest rate of 6.8 percent, the determination of whether the annuity may exhaust the corpus before the annuity payments are made is computed as follows:

 Age to which life annuity may continue................  110

 

 less: Age of measuring life at date of transfer.......   60

 

 Number of years annuity may continue.............   50

 

 Annual annuity payment......................  $100,000.00

 

 times: Annuity factor for 50 years

 

 derived from Table B....................          14.1577

 

 Present value of term certain annuity........    $1,415,770.00

 

 

(ii) Since the present value of an annuity for a term of 50 years exceeds the corpus, the annuity may exhaust the trust before all payments are made. Consequently, the annuity must be valued as an annuity payable for a term of years or until the prior death of the annuitant, with the term of years determined by when the fund will be exhausted by the annuity payments.

(iii) Using factors based on Table 90CM at 6.8 percent (see section 20.2031-7T(d)(7) of this chapter), it is determined that the fund will be sufficient to make 17 annual payments, but not to make the entire 18th payment. Specifically, the initial corpus will be able to make payments of $67,287.26 per year for 17 years plus payments of $32,712.74 per year for 18 years. The annuity is valued by adding the value of the two separate temporary annuities.

(iv) Based on Table H of Publication 1457 (a copy of this publication may be purchased from the Superintendent of Documents, United States Government Printing Office, Washington, DC 20402), the present value of an annuity of $67,287.26 per year payable for 17 years or until the prior death of a person aged 60 is $588,016.64 ($67,287.26 X 8.7389). The present value of an annuity of $32,712.74 per year payable for 18 years or until the prior death of a person aged 60 is $292,196.74 ($32,712.74 X 8.9322). Thus, the present value of the charitable annuity interest is $880,213.38 ($588,016.64 + $292,196.74).

* * * * *

(4) * * *

Example. Terminal illness. The donor transfers property worth $1,000,000 to a child in exchange for the child's promise to pay the donor $103,000 per year for the donor's life, payable annually at the end of each period. The donor is age 60 but has been diagnosed with an incurable illness and has at least a 50 percent probability of dying within 1 year. The section 7520 interest rate for the month of the transfer is 10.6 percent, and the standard annuity factor at that interest rate for a person age 60 in normal health is 7.5590. Thus, if the donor were not terminally ill, the present value of the annuity would be $778,577 ($103,000 X 7.5590). Assuming the presumption provided in paragraph (b)(3) of this section does not apply, because there is at least a 50 percent probability that the donor will die within 1 year, the standard section 7520 annuity factor may not be used to determine the present value of the donor's annuity interest. Instead, a special section 7520 annuity factor must be computed that takes into account the projection of the donor's actual life expectancy.

* * * * *

Par. 32. 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

 

 _____________________________________________________________________

 

 1.170A-6(c)(5)           1970                     1971

 

 Example (1)

 

 first and last

 

 sentence

 

 1.170A-6(c)(5)           1970

 

 Example (2)(a)

 

 first sentence

 

 1.170A-6(c)(5)           1970                     1971

 

 Example (3)(a)

 

 first, sixth, seventh

 

 and eighth sentences

 

 1.170A-6(c)(5)           1971                     1972

 

 Example (3)(a)

 

 seventh and eighth

 

 sentences

 

 1.170A-6(c)(5)           1972                     1973

 

 Example (3)(a)

 

 seventh and eighth

 

 sentences

 

 1.170A-6(c)(5)           1970                     1971

 

 Example (3)(b)

 

 introductory text

 

 1.170A-6(c)(5)           Jan. 1, 1970             Jan. 1, 1971

 

 Example (3)(b)

 

 Table headings

 

 1.170A-6(c)(5)           Dec. 31, 1970            Dec. 31, 1971

 

 Example (3)(b)

 

 column 1 of table

 

 1.170A-6(c)(5)           Dec. 31, 1971            Dec. 31, 1972

 

 Example (3)(b)

 

 column 1 of table

 

 1.170A-6(c)(5)           Dec. 31, 1972            Dec. 31, 1973

 

 Example (3)(b)

 

 column 1 of table

 

 1.170A-6(c)(5)           1972                     1973

 

 Example (3)(c)

 

 1.170A-6(c)(5)           1972                     1973

 

 Example (3)(d)

 

 1.170A-12(b)(2)          factor                   factor before

 

 paragraph heading                                 May 1, 1999

 

 1.170A-12(b)(2)          April 30, 1989,          April 30, 1989,

 

 fourth sentence                                   and before May

 

 1, 1999,

 

 1.170A-12(b)(2)          CC:DOM:CORP:T:R          CC:DOM:CORP:R

 

 sixth sentence

 

 1.170A-12(b)(2)          room 5228                room 5226

 

 sixth sentence

 

 1.170A-12(c)             paragraph (f) of         section 20.2031-

 

 first sentence           such sections            7(d)(6) of this

 

 chapter

 

 1.170A-12(e)(2)          Table 80CNSMT            Table 90CM

 

 following the            in section               in section

 

 formula                  20.2031-7                20.2031-7T

 

 1.170A-12(e)(3)          E:A:G                    OP:E:EP:A:1

 

 last sentence

 

 1.170A-14(h)(4),         December 1, 1983         May 1, 1999

 

 Example 2, fourth

 

 sentence

 

 1.642(c)-6A(e)(2)(i)     section                  section

 

 20.2031-7(d)(6)          20.2031-7A(e)(4)

 

 1.664-1(a)(5)            column 2 of Table D      Table D in section

 

 (ii)(b)(1)               in section               1.664-4(e)(6)

 

  1.664-4A(d)(6)

 

 1.664-1(a)(5)(iv)        (iii) of this            (ii) of this

 

 introductory text        section                  section:

 

 1.664-1(a)(6)            section 1.664-4(e),      sections 1.664-4T

 

 introductory text        section 1.664-4(A)       (e), 1.664-4T(e)

 

                          (d), and former          and 1.664-4A(d)

 

  section 1.664-4(d)       and (e)

 

  (as contained in

 

  the 26 CFR part 1

 

  edition revised

 

  as of April 1, 1994)

 

 1.664-2(c)               April 30, 1989           April 30, 1999

 

 1.664-2(c)               section 20.2031-         section 20.2031-7A

 

 sixth sentence           7A(a) through (d)        (a) through (e)

 

 sentence

 

 1.664-2(c)               May 1, 1989              May 1, 1999

 

 sixth sentence

 

 1.664-2(c)               last sentence

 

 1.7520-1(a)(2)           1989, see section        1999, see section

 

 1.642(c)-6(e)            1.642(c)-6T(e)

 

 1.7520-1(a)(3)           (or, for certain

 

 last sentence            prior periods,

 

 section 1.664-4A)

 

 1.7520-1(c)(1)           Section 1.642(c)-6(e)(4) Section 1.642(c)-

 

 first sentence                                    6A(e)(5)

 

 1.7520-1(c)(1)           Section 1.664-4(e)(6)    Sections 1.664-

 

 second sentence          contains                 4(e)(6) and 1.664-

 

                            4A(e)(6) contain

 

 1.7520-1(c)(1)           Section 20.2031-7(d)(6)  Sections 20.2031-

 

 third sentence           of this chapter (Estate  7(d)(6) and 20.2031-

 

  Tax Regulations) contain 7A(e)(4) of this

 

  contains                 chapter

 

 20.2032-1(f)(1)          paragraph (d) of         section 20.2031-

 

 fourth sentence          section 20.2031-7(A)(d)  7A(d)(4)

 

 20.2055-2(f)(2)(iv)      section 20.2031-10(f)    section 20.2031-

 

 Example (1)                                       7A(d)

 

 second sentence

 

 20.2055-2(f)(2)(iv)      section 20.2031-10(f)    section 20.2031-

 

 Example (2)                                       7A(d)

 

 second sentence

 

 20.2055-2(f)(2)(iv)      section 20.2031-10(e)    section 20.2031-

 

 Example (3)                                       7A(c)

 

 second sentence

 

 20.2055-2(f)(2)(iv)      section 20.2031-10(f)    section 20.2031-

 

 Example (3)                                       7A(d)

 

 third sentence

 

 20.2056A-4(c)(4)(ii)(B)  Alpha Volume             Book Aleph

 

 penultimate sentence

 

 20.2056A-4(d),           Alpha Volume             Book Aleph

 

 Example 4(iii)

 

 second sentence

 

 20.7520-1(a)(2)          1989, see section        1999, see section

 

 1.642(c)-6(e)            1.642(c)-6T(e)

 

 20.7520-1(a)(3)          (or, for certain prior

 

 second sentence          periods, section 1.664-4A)

 

 20.7520-1(c)(1)          Section 1.642(c)-6(e)(4) Section 1.642(c)-

 

 first sentence                                    6A(e)(5)

 

 20.7520-1(c)(1)          Section 1.664-4(e)(6)    Sections 1.664-

 

 second sentence          of this chapter contains 4(e)(6) and 1.664-

 

 4A(e)(6) of this

 

 chapter contain

 

 20.7520-1(c)(1)          Section 20.2031-7(d)(6)  Sections 20.2031-

 

 third sentence           contains                 7(d)(6) and 20.2031-

 

                                                   7A(e)(4) contain

 

 25.7520-1(a)(2)          1989, see section        1999, see section

 

 1.642(c)-6(e)            1.642(c)-6T(e)

 

 25.7520-1(a)(3)          (or, for certain prior

 

 last sentence            periods, section 1.664-4A)

 

 25.7520-1(c)(1)          Section 1.642(c)-6(e)(4) Section 1.642(c)-

 

 first sentence                                    6A(e)(5)

 

 25.7520-1(c)(1)          Section 1.664-4(e)(6)    Sections 1.664-

 

 second sentence          of this chapter contains 4(e)(6) and 1.664-

 

                                                   4A(e)(6) of this

 

                                                    chapter contain

 

 25.7520-1(c)(1)          Section 20.2031-7(d)(6)  Sections 20.2031-

 

 third sentence           (Estate Tax Regulations) 7(d)(6) and

 

   contains                20.2031-7A(e)(4)

 

                            contain

 

Robert E. Wenzel

 

Deputy Commissioner of Internal Revenue

 

Approved: April 21, 1999

 

Donald C. Lubick

 

Assistant Secretary of the Treasury
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