S.D. Admin. R. 20:06:43:01

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:43:01 - Definitions

Terms used in this chapter mean:

(1) "1983 Table 'a'," a mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as a recognized mortality table for annuities by the National Association of Insurance Commissioners;

(2) "1983 GAM Table," a mortality table developed by the Society of Actuaries Committee on Annuities and adopted as a recognized mortality table for annuities by the National Association of Insurance Commissioners;

(3) "1994 GAR Table," a mortality table developed by the Society of Actuaries Group Annuity Valuation Table Task Force and adopted as a recognized mortality table for annuities by the National Association of Insurance Commissioners;

(4) "Annuity 2000 Mortality Table," a mortality table developed by the Society of Actuaries Committee on Life Insurance Research and adopted as a recognized mortality table by the National Association of Insurance Commissioners;

(5) "Period Table," a table of mortality rates applicable to a given calendar year (the period);

(6) "Generational Mortality Table," a mortality table containing a set of mortality rates that decrease for a given age from one year to the next based on a combination of a Period Table and a projection scale containing rates of mortality improvement;

(7) "2012 IAR Table," a Generational Mortality Table developed by the Society of Actuaries Committee on Life Insurance Research and containing rates, qx2012+n, derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in § 20:06:43:02.01;

(8) "2012 Individual Annuity Mortality Period Life (2012 IAM Period) Table," the Period Table containing loaded mortality rates for calendar year 2012. This table contains rates, qx2012, developed by the Society of Actuaries Committee on Life Insurance Research and is shown in Appendices A-B;

(9) "Projection Scale G2 (Scale G2)," a table of annual rates, G2x, of mortality improvement by age for projecting future mortality rates beyond calendar year 2012 developed by the Society of Actuaries Committee on Life Insurance Research and is shown in Appendices C-D.

S.D. Admin. R. 20:06:43:01

26 SDR 55, effective 10/24/1999; 41 SDR 93, effective 12/3/2014.

General Authority: SDCL 58-26-66, 58-26-67, 58-26-69.

Law Implemented: SDCL 58-26-66, 58-26-67, 58-26-69.

For 1983 Table "a", 1982 Proceedings of the NAIC, Volume II, page 454, National Association of Insurance Commissioners. Copies of the entire volume may be obtained from the National Association of Insurance Commissioners, Attention Publications Department, 120 West Twelfth Street, Suite 1100, Kansas City, MO 64105, Telephone Number (816) 374-7259. Cost: Free for members; $180 for nonmembers. Copies of individual pages may be obtained from the National Association of Insurance Commissioners, Attention Research Library, 120 West Twelfth Street, Suite 1100, Kansas City, MO 64105, Telephone Number (816) 374-7175. Cost: Free for members; $10 flat fee plus 30 cents per page certain for nonmembers (with a higher charge for pages uncertain). For 1983 GAM Table, 1984 Proceedings of the NAIC, Volume I, pages 414-415, National Association of Insurance Commissioners. Copies of the entire volume may be obtained from the National Association of Insurance Commissioners, Attention Publications Department, 120 West Twelfth Street, Suite 1100, Kansas City, MO 64105, Telephone Number (816) 374-7259. Cost: Free for members; $180 for nonmembers. Copies of individual pages may be obtained from the National Association of Insurance Commissioners, Attention Research Library, 120 West Twelfth Street, Suite 1100, Kansas City, MO 64105, Telephone Number (816) 374-7175. Cost: Free for members; $10 flat fee plus 30 cents per page certain for nonmembers (with a higher charge for pages uncertain). For 1994 GAR Table, Transactions of the Society of Actuaries, Volume XLVII, 1995, pages 865-919, Society of Actuaries. Copies may be obtained from the Society of Actuaries, Attention Publications Department, 475 North Martingale Road, Suite 800, Schaumburg, IL 60173-2226, Telephone Number (847) 706-3526. Cost: $55 per book. For copies of tables, first 40 pages, $10 for members and $20 for nonmembers; each additional page, 25 cents for members and 50 cents for nonmembers. For Annuity 2000 Mortality Table, Transactions of the Society of Actuaries, Volume XLVII, 1995, pages 211-249, Society of Actuaries. Copies may be obtained from Society of Actuaries, Attention Publications Department, 475 North Martingale Road, Suite 800, Schaumburg, IL 60173-2226, Telephone Number (847) 706-3526. Cost: $55 per book. For copies of tables, first 40 pages, $10 for members and $20 for nonmembers; each additional page, 25 cents for members and 50 cents for nonmembers.