N.J. Admin. Code § 11:4-26.4

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-26.4 - Application of the 2012 IAR Mortality Table

(a) In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows:

q[x]<2012+n> = q[x]<2012> (1 - G2[x])<n>.

The resulting q[x]<2012+n> shall be rounded to three decimal places per 1,000 (for example, 0.741 deaths per 1,000). Also, the rounding shall occur according to the formula above, starting at the 2012 period table rate.

For example, for a male age 30, q[x]<2012> = 0.741. q[x]<2013> = 0.741 * (1 - 0.010) 1 = 0.73359, which is rounded to 0.734. q[x]<2014> = 0.741 * (1 - 0.010) 2 = 0.7262541, which is rounded to 0.726.

A method leading to incorrect rounding would be to calculate q[x]<2014> as q[x]<2013> * (1 - 0.010), or 0.734 * 0.99 = 0.727. It is incorrect to use the already rounded q[x]<2013> to calculate q[x]2014>.

N.J. Admin. Code § 11:4-26.4

Adopted by 47 N.J.R. 117(c), effective 1/5/2015