28 Tex. Admin. Code § 3.1502

Current through Reg. 49, No. 50; December 13, 2024

Section 3.1502 - Definitions

The following words and terms, when used in this subchapter, have the following meanings, unless the context clearly indicates otherwise.

(1) 1983 GAM Table--Mortality table developed by the Society of Actuaries' Committee on Annuities and adopted as a recognized mortality table for annuities in December 1983, by the National Association of Insurance Commissioners.

(2) 1983 Table "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 in June 1982, by the National Association of Insurance Commissioners.

(3) 1994 GAR Table--The 1994 Group Annuity Reserving Table developed by the Society of Actuaries' Group Annuity Valuation Table Task Force and adopted as a recognized mortality table for annuities on December 16, 1996, by the National Association of Insurance Commissioners.

(4) Annuity 2000 Mortality Table--Mortality table developed by the Society of Actuaries' Committee on Life Insurance Research and adopted as a recognized mortality table for annuities on December 16, 1996, by the National Association of Insurance Commissioners.

(5) Period Table--Table of mortality rates applicable to a given calendar year.

(6) Generational Mortality Table--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--Generational mortality table developed by the Society of Actuaries' Committee on Life Insurance Research and containing rates, q_x²⁰¹²⁺ⁿ, derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in § 3.1506 of this title (relating to Application of the 2012 IAR Mortality Table).

(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, q_x²⁰¹², developed by the Society of Actuaries' Committee on Life Insurance Research.

(9) Projection Scale G2 (Scale G2)--Table of annual rates, G2_x, of mortality improvement by age for projecting future mortality rates beyond calendar year 2012. The Society of Actuaries' Committee on Life Insurance Research developed this table.

28 Tex. Admin. Code § 3.1502

The provisions of this §3.1502 adopted to be effective October 8, 1985, 10 TexReg 3688; amended to be effective December 22, 1999, 24 TexReg 11393; amended to be effective March 4, 2014, 39 TexReg 1394