The Society of Actuaries has released its latest U.S. mortality assumptions for pension plans, which were last updated in 2000.
The new tables show that the average 65-year-old U.S. male is expected to live to be 86.6, and the average 65-year-old female is expected to live to be 88.8 years of age.
That’s an increase of 2.0 years for men, and 2.4 for women. The SOA said that could translate to a 4 percent to 8 percent cost in private plan defined benefit liabilities, depending on the design and demographic profile of each plan. Previous mortality tables were published in 2000.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
