Section 35IAC1.3-10-1. Actuarial rules

   Two (2) forms of benefit payments are considered to be actuarially equivalent if the expected present value of future payments are the same. For PERF, the expected present value of the pension portion of the benefit is calculated based on a six and seventy-five hundredths percent (6.75%) interest rate and the 2013 Static Mortality table for males and females, projected five (5) years using Scale AA, and weighted 50/50. The expected present value of the annuity portion of the benefit is calculated using the 2013 Static Mortality table for males and females, projected five (5) years using Scale AA, and weighted 50/50 and prior to January 1, 2017, and after October 1, 2015, an interest rate equal to the greater of similar annuities in the private market or four and one-half percent (4.5%). After January 1, 2017, the interest rate used will be equal to similar annuities in the private market. (Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-10-1; adopted Sep 14, 2012: 20120926-IR-035120542ONA; adopted Sep 11, 2015: 20150923-IR-035150302ONA)

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