1200 Actuarial tables and computational procedures

PUBLIC SCHOOL EMPLOYES' RETIREMENT BOARD

Actuarial Tables and Computational Procedures

[27 Pa.B. 3726]

   The act of December 20, 1995, P. L. 689, No. 77 (Act 1995-77), amended subsections 8502(h) and (j) of the Public School Employes' Retirement Code, 25 Pa.C.S. § 8101--8535, to require the Board to publish in the Pennsylvania Bulletin the actuarial tables and computational procedures used by the System in calculating annuities and other benefits. The Board adopted the following actuarial tables and computational procedures by resolution at its June 27, 1997 meeting. Accordingly, these actuarial tables and computational procedures are being published as Annex A within 30 days of their adoption as required by Act 1995-77.

JAMES A. PERRY,   
Secretary

   The following material provides general information, examples and actuarial tables for computing an estimated retirement benefit from the Public School Employes' Retirement System (PSERS).

General Information

   A key component in the computation of a PSERS' retirement benefit is the final average salary. PSERS' retirement code defines final average salary as the highest compensation received as an active member for any three nonoverlapping periods of 12 consecutive months. Compensation for part-time service is annualized on the basis of the fractional portion of the school year for which credit is received. This period is frequently the most recent 3-year period.

   Years of credited service are the number of years of school or creditable nonschool service for which eligible contributions have been made or for which salary deductions or other payment arrangements have been made.

   Accumulated deductions are the total of a member's contributions (including contributions for purchase of service) and interest.

   Actuarial tables which provide the factors to compute certain retirement benefits follow. It should be noted that gender distinctions are shown on various tables because certain retirement benefits are computed differently for males and females for credited service before July 1, 1983. The factors were determined actuarially based on the life expectancies for both males and females. The portion of the benefit for credited service earned prior to July 1, 1983 is computed using gender-distinct factors for males and females. The portion of the benefit for credited service on or after July 1, 1983 is computed using gender-neutral factors (both males and females use the more favorable factor which is most often the female factor).

Retirement Benefit Calculation Examples

The following data will be used for all option calculations, unless otherwise noted.

Final Average Salary	--	$30,000
Years of Credited Service	--	30 years
Member Sex and Age	--	Female, Age 60
Beneficiary Sex and Age	--	Male, Age 60
Accumulated Deductions	--	$38,000

Maximum Option

   The Maximum Option is a single life annuity and will provide the highest monthly amount to the member. If you die and have not received in retirement benefits your accumulated deductions, the total value protected remaining will be paid in a lump sum to your designated beneficiary.

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	=	Maximum Option Annual Benefit
Accumulated Deductions					=	Total Value Protected
Example:
$30,000	X	.02	X	30	=	$18,000 ($1,500 monthly)
Total Value Protected					=	$38,000

Option 1

Option 1 provides a reduced lifetime annuity to the member with a guaranteed total payment equal to the present value of the maximum option single life annuity. If at the time of your death you have not received in retirement benefits an amount equal to the total value protected, the unpaid balance will be paid to your designated beneficiary.

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	X	Reducing Factor for Option 1*	=	Option 1 Annual Benefit
Maximum Single Life Annuity	X	Present Value of $1 Annuity**					=	Total Value Protected
Example:
$30,000	X	.02	X	30	X	.8671*	=	$15,607 ($1,300 monthly)
$18,000	X	13.924**					=	$250,632

* From Table 2
** From Table 1

Note:  To compute the retirement benefit for male members selecting Option 1, a combination of Male Tables (for years of credited service prior to 7/1/83) and Female Tables (for years of credited service on or after 7/1/83 will be used. To compute the retirement benefit for female members, Female Tables will be used for all years of credited service.

Option 2

Option 2 is a joint and 100% survivor annuity with a reduced monthly benefit payable during the lifetime of the member. After the member's death, the same amount is payable for the designed beneficiary's lifetime. Under this Option there is no Total Value Protected.

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	X	Reducing Factor for Option 2*	=	Option 2 Annual Member Benefit
Option 2 Annual Member Benefit	X	100%					=	Option 2 Annual Beneficiary Benefit
Example:
$30,000	X	.02	X	30	X	.8581*	=	$15,445 to Member ($1,287 monthly)
$15,445	X	100%					=	$15,445 to Beneficiary ($1,287 monthly)

*From Table 8

Note:  To compute a retirement benefit under Option 2, the appropriate ages and gender-based factor from Tables 5, 6, 7 and 8 based upon the specific genders of the member and beneficiary are used for credited service earned before 7/1/83. To compute the portion of the retirement benefit for credited service on or after 7/1/83, the appropriate ages and the higher factor from Tables 5, 6, 7 and 8 are used (most often the female with a male beneficiary factor).

Option 3

Option 3 is a joint and 50% survivor annuity with a reduced amount payable during the lifetime of the member. After the member's death, one-half of the annuity is payable for the designated beneficiary's lifetime. Under this Option there is no Total Value Protected.

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	X	Reducing Factor for Option 3*	=	Option 3 Annual Member Benefit
Option 3 Annual Member Benefit	X	50%					=	Option 3 Annual Beneficiary Benefit
Example:
$30,000	X	.02	X	30	X	.9236*	=	$16,624 to Member ($1,385 monthly)
$16,624	X	50%					=	$8,312 to Beneficiary ($692 monthly)

*From Table 12

Note:  To compute a retirement benefit under Option 3, the appropriate ages and gender-based factor from Tables 9, 10, 11 and 12 based upon the specific genders of the member and beneficiary are used for credited service earned before 7/1/83. To compute the portion of the retirement benefit for credited service on or after 7/1/83, the appropriate ages and the higher factor from Tables 9, 10, 11 and 12 are used (most often the female with a male beneficiary factor).

Option 4--Special Option

Special Option provides for some other payment plan that may better fit your needs. This option is subject to the approval of the Retirement Board and all computations are made by the consulting actuary

Example:

     Member receives reduced benefit.

     Beneficiary receives 75% of member's reduced benefit.

     All computations will be made by the actuary.

Option 4--withdrawal of contributions & interest

A portion of the benefit, limited to an amount equal to the member's accumulated deductions, may be withdrawn as a lump sum. The present value of the maximum single life annuity less the portion withdrawn will be paid in the form of a single life annuity, an annuity with a guaranteed total payment, or a joint and survivor annuity. This option may be selected in addition to Options 1, 2, 3 and 4 (Special).

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	=	Maximum Single Life Annuity (MSLA)
Lump Sum Payment at Retirement	÷	Present Value of $1 Annuity			=	Reduction in Annuity
Maximum Single Life Annuity	-	Reduction in Annuity			=	Reduced Single Life Annuity (RSLA)
Reduced Single Life Annuity	X	Reducing Factor for Option 1			=	Option 1 Benefit
Reduced Single Life Annuity	X	Reducing Factor for Option 2			=	Option 2 Member and Beneficiary Benefit
Reduced Single Life Annuity	X	Reducing Factor for Option 3			=	Option 3 Member Benefit (50% to Beneficiary)
Example:
$30,000	X	.02	X	30	=	$18,000 (MSLA)
$38,000	÷	13.924*			=	$2,729
$18,000	-	$2,729			=	15,271 (RSLA) ($1,272 monthly)
$15,271	X	.8671**			=	$13,241 (Option 1) ($1,103 monthly)
$15,271	X	.8581***			=	$13,104 (Option 2) ($1,092 monthly, $1,092 monthly to beneficiary)
$15,271	X	.9236****			=	14,104 (Option 3) ($1,175 monthly, $587 monthly to beneficiary)

*  From Table 1 (Gender-distinct factors are used to calculate the reduction in annuity due to partial lump sum withdrawal of pre July 1, 1983 accumulated deductions. The higher, gender-neutral (usually female) factors are used to calculate the reduction in benefit due to partial lump sum withdrawal of post July 1, 1983 accumulated deductions).

**  From Table 2

***  From Table 8

****  From Table 12

Vested Benefits

If you leave service anytime after completing 10 years of credited service and before you become eligible for normal retirement benefits, and do not wish to retire at that time, it will be necessary for you to complete an application to vest. Once your application is received by the Retirement System you are then automatically covered by the death benefit provisions. Approximately 1 year after the receipt of your application, the Retirement System will notify you of the accumulated deductions credited to your account, the total number of years of service, and maximum single life annuity available to you when you reach retirement age. As a vestee, normal retirement age is:

  when you reach age 62 if you have fewer than 30 years of credited service, or

  when you reach age 60 if you have 30 or more years of credited service.

Approximately 90 days prior to your eligibility for a monthly benefit as a vestee, you should contact PSERS and request an estimate under all the various options available and the necessary application for you to complete. This application must be returned to the Retirement System no later than 90 days after your eligibility date. As a vestee, it will be necessary for you to keep your mailing address current.

Formula:

  Same as prior illustrations under Options Maximum, 1, 2, 3 and 4

Example:

  See prior illustrations.

Early Retirement
(withdrawal allowance)

After 10 years of credited service, you may apply for an early (withdrawal) retirement benefit. This benefit will be based on your age to the nearest year and month when you apply, the number of years of service, and actuarial reduction factor applicable to your age.

Formula:
Final Average Salary	X	2%	X	Years of Credited Service	X	Early Retirement Factor (From Table 3 or 4)	=	Annual Reduced Early Retirement Benefit
Example:
Male, age 49 with 10 years of service (earned after 7/1/83) and normal retirement age of 62.
$30,000	X	.02	X	10	X	.462186*	=	$2,773 ($231 monthly)

*From Table 4 (higher of the factors from Table 3 and 4 for post 7/1/83 service)

Early Retirement
(3% formula)

Minimum Requirement--25 years of service and 55 years of age

If you have attained age 55 and have 25 or more years of credited service, you may retire with an annuity reduced by a percentage. The percentage is determined by multiplying the number of months between the effective date of retirement and the date on which you would be eligible for a normal retirement by 1/4% (3% per year).

Formula:
3%	X	Number of Years Below Normal Retirement Age					=	Early Retirement Reduction
100%	-	Early Retirement Reduction					=	Early Retirement Factor
Final Average Salary	X	2%	X	Years of Credited Service	X	Early Retirement Factor	=	Early Retirement Annual Benefit
Examples:
A.  Member age 55 with 25 years of service. Normal Retirement Age 60 (5 year reduction).
3%	X	5 years					=	15% Reduction
100%	-	15%					=	85% Early Retirement Factor
$30,000	X	.02	X	25	X	85%	=	$12,750 ($1,062 monthly)
B.  Member age 57 with 27 years of service. Normal Retirement Age 60 (3 year reduction).
3%	X	3 years					=	9% Reduction
100%	-	9%					=	91% Early Retirement Factor
$30,000	X	.02	X	27	X	91%	=	$14,742 ($1,228 monthly)
C.  Member age 56 with 33 years of service. Normal Retirement Age 58 (with 35 years of service) (2 year reduction).
3%	X	2 years					=	6% Reduction
100%	-	6%					=	94% Early Retirement Factor
$30,000	X	.02	X	33	X	94%	=	$18,612 ($1,551 monthly)
D.  Member age 55 with 29 years of service. Normal Retirement Age 60 (5 year reduction).
3%	X	5 years					=	15% Reduction
100%	-	15%					=	85% Early Retirement Factor
$30,000	X	.02	X	29	X	85%	=	$14,790 ($1,232 monthly)
E.  Member age 61 with 27 years of service. Normal Retirement Age 62 (1 year reduction).
3%	X	1 year					=	3% Reduction
100%	-	3%					=	97% Early Retirement Factor
$30,000	X	.02	X	27	X	97%	=	$15,714 ($1,309 monthly)

ACTUARIAL TABLES

*  Table 1

   Present Value of $1 Annuity is an actuarial factor used to determine the amount of reserve needed to fund the member's retirement benefit.

*  Table 2

   Service Option 1 Reducing Factors are used to reduce the member's monthly benefit in order to provide a higher death benefit.

*  Tables 3 and 4

   Early Retirement Factors--Men and Women are used to reduce the monthly benefit because normal retirement qualifications are not met.

*  Table 5-8

   Factors for Obtaining Annuities and Pensions Under Option 2 are used to determine the reduction to be able to provide a lifetime benefit for both the member and the beneficiary. Factors consider both the member's age and sex and the beneficiary's age and sex. Option 2 guarantees the beneficiary the same monthly benefit for life after the member's death.

*  Tables 9-12

   Factors For Obtaining Annuities and Pensions Under Option 3 are used to determine the reduction to be able to provide a lifetime benefit for both the member and the beneficiary. Factors consider both the member's age and sex and the beneficiary's age and sex. Option 3 guarantees the beneficiary an amount equal to 50% of the member's monthly benefit for life after the member's death.

Table 1
PRESENT VALUE OF $1 ANNUITY

Age	Men	Women	Age	Men	Women	Age	Men	Women
30	20.304	21.220	45	16.851	18.250	60	12.099	13.924
31	20.116	21.061	46	16.571	18.004	61	11.751	13.593
32	19.923	20.898	47	16.285	17.751	62	11.401	13.258
33	19.723	20.729	48	15.993	17.492	63	11.050	12.919
34	19.518	20.554	49	15.695	17.227	64	10.697	12.577
35	19.307	20.374	50	15.392	16.956	65	10.345	12.232
36	19.089	20.189	51	15.083	16.678	66	9.992	11.885
37	18.865	19.997	52	14.769	16.395	67	9.641	11.535
38	18.636	19.800	53	14.450	16.105	68	9.290	11.184
39	18.399	19.597	54	14.126	15.810	69	8.942	10.832
40	18.157	19.388	55	13.798	15.509	70	8.596	10.479
41	17.908	19.173	56	13.465	15.202	71	8.253	10.127
42	17.653	18.952	57	13.129	14.890	72	7.913	9.775
43	17.392	18.724	58	12.788	14.573	73	7.578	9.424
44	17.124	18.490	59	12.445	14.251	74	7.247	9.075

Table 2
SERVICE OPTION 1 REDUCING FACTORS

Age	Men	Women	Age	Men	Women	Age	Men	Women
30	0.9377	0.9428	45	0.9078	0.9221	60	0.8338	0.8671
31	0.9366	0.9420	46	0.9045	0.9198	61	0.8265	0.8616
32	0.9354	0.9411	47	0.9010	0.9173	62	0.8190	0.8559
33	0.9339	0.9403	48	0.8974	0.9147	63	0.8114	0.8495
34	0.9325	0.9392	49	0.8935	0.9119	64	0.8033	0.8431
35	0.9310	0.9382	50	0.8894	0.9090	65	0.7948	0.8364
36	0.9293	0.9371	51	0.8850	0.9058	66	0.7861	0.8294
37	0.9274	0.9358	52	0.8804	0.9024	67	0.7772	0.8219
38	0.9256	0.9345	53	0.8757	0.8988	68	0.7677	0.8143
39	0.9234	0.9331	54	0.8704	0.8950	69	0.7582	0.8065
40	0.9213	0.9315	55	0.8650	0.8910	70	0.7486	0.7980
41	0.9189	0.9299	56	0.8594	0.8867	71	0.7381	0.7894
42	0.9164	0.9282	57	0.8535	0.8822	72	0.7276	0.7808
43	0.9137	0.9263	58	0.8471	0.8775	73	0.7173	0.7714
44	0.9108	0.9242	59	0.8405	0.8725	74	0.7060	0.7618

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Table 3
EARLY RETIREMENT FACTORS - MEN

Age at	Normal Retirement Age
With- drawal	50	51	52	53	54	55	56	57	58	59	60	61	62
30	0.345975	0.325994	0.306929	0.288748	0.271418	0.254912
33	0.400633	0.377496	0.355419	0.334365	0.314298	0.295183	0.276987	0.259677	0.243223
36	0.465630	0.438739	0.413080	0.388611	0.365288	0.343073	0.321925	0.301807	0.282682	0.264515	0.247272
39	0.543403	0.512021	0.482076	0.453519	0.426301	0.400375	0.375695	0.352217	0.329898	0.308696	0.288573
42	0.637096	0.600303	0.565195	0.531715	0.499804	0.469407	0.440472	0.412945	0.386778	0.361921	0.338328	0.315956	0.294754
45	0.750779	0.707420	0.666048	0.626593	0.588988	0.553168	0.519069	0.486631	0.455794	0.426502	0.398699	0.372335	0.347349
46	0.793997	0.748142	0.704388	0.662662	0.622893	0.585010	0.548949	0.514643	0.482032	0.451054	0.421650	0.393768	0.367344
47	0.840255	0.791728	0.745426	0.701269	0.659182	0.619093	0.580930	0.544626	0.510115	0.477332	0.446215	0.416709	0.388746
48	0.889813	0.838425	0.789392	0.742630	0.698061	0.655607	0.615194	0.576749	0.540202	0.505485	0.472533	0.441287	0.411674
49	0.942956	0.888498	0.836536	0.786982	0.739751	0.694762	0.651935	0.611194	0.572464	0.535674	0.500755	0.467642	0.436260
50		0.942248	0.887142	0.834590	0.784502	0.736792	0.691374	0.648168	0.607095	0.568080	0.531048	0.495932	0.462652
51			0.941517	0.885744	0.832586	0.781951	0.733749	0.687895	0.644305	0.602898	0.563596	0.526328	0.491009
52				0.940762	0.884302	0.830522	0.779326	0.730624	0.684327	0.640348	0.598604	0.559021	0.521508
53					0.939984	0.882818	0.828398	0.776629	0.727417	0.680668	0.636297	0.594222	0.554346
54						0.939183	0.881289	0.826215	0.773860	0.724127	0.676923	0.632161	0.589739
55							0.938357	0.879716	0.823971	0.771018	0.720756	0.673096	0.627927
60								0.937507	0.878100	0.821668	0.768105	0.717313	0.669178
57									0.936633	0.876439	0.819306	0.765129	0.713784
58										0.935733	0.874735	0.816892	0.762074
59											0.948811	0.872997	0.814413
60												0.933874	0.871206
61													0.932894

Note: Appropriate factors have been developed for intervening ages at the beginning of the table.

Table 4
EARLY RETIREMENT FACTORS - WOMEN

Age at	Normal Retirement Age
With- drawal	50	51	52	53	54	55	56	57	58	59	60	61	62
30	0.364684	0.344918	0.326012	0.307937	0.290611	0.274158
33	0.419938	0.397177	0.375407	0.354593	0.334700	0.315696	0.297551	0.280233	0.263715
36	0.485005	0.458718	0.433575	0.409536	0.386560	0.364612	0.343655	0.323655	0.304577	0.286389	0.269060
39	0.562034	0.531572	0.502435	0.474578	0.447954	0.422520	0.398234	0.375057	0.352950	0.331873	0.311793
42	0.653747	0.618314	0.584423	0.552020	0.521051	0.491467	0.463219	0.436260	0.410544	0.386029	0.362671	0.340431	0.319268
45	0.763634	0.722245	0.682657	0.644808	0.608633	0.574076	0.541080	0.509589	0.479552	0.450915	0.423632	0.397653	0.372933
46	0.805044	0.761410	0.719676	0.679774	0.641638	0.605207	0.570422	0.537223	0.505557	0.475368	0.446604	0.419217	0.393157
47	0.849160	0.803135	0.759114	0.717026	0.676800	0.638372	0.601681	0.566663	0.533261	0.501417	0.471078	0.442190	0.414701
48	0.896197	0.847623	0.801163	0.756744	0.714290	0.673734	0.635009	0.598052	0.562800	0.529192	0.497173	0.466684	0.437673
49	0.946391	0.895096	0.846034	0.779127	0.754295	0.711468	0.670574	0.631547	0.594321	0.558831	0.525018	0.492821	0.462186
50		0.945800	0.893958	0.844394	0.797022	0.751769	0.708559	0.667321	0.627986	0.590486	0.554758	0.520738	0.488366
51			0.945187	0.892783	0.842697	0.794850	0.749164	0.705563	0.663974	0.624325	0.586549	0.550579	0.516353
52				0.944556	0.891565	0.840944	0.792609	0.746479	0.702478	0.660530	0.620563	0.582508	0.546297
53					0.943899	0.890306	0.839134	0.790296	0.743712	0.699302	0.656989	0.616700	0.578363
54						0.943221	0.889008	0.837268	0.787915	0.740865	0.696037	0.653353	0.612738
55							0.942522	0.887668	0.835344	0.785462	0.737936	0.692683	0.649623
56								0.941800	0.886285	0.833361	0.782937	0.734924	0.689238
57									0.941054	0.884860	0.831320	0.780340	0.731831
58										0.940285	0.883391	0.829218	0.777670
59											0.939492	0.881879	0.827058
60												0.938675	0.880323
61													0.937836

Note:  Appropriate factors have been developed for intervening ages at the beginning of the table.

Table 5
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 2 - MALE MEMBER WITH FEMALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.8009	0.7916	0.7819	0.7718	0.7613	0.7505	0.7394	0.7279	0.7161	0.7040	0.6915	0.6787	0.6656	0.6523	0.6386	0.6247
35	0.8209	0.8119	0.8025	0.7927	0.7825	0.7720	0.7610	0.7497	0.7380	0.7259	0.7134	0.7006	0.6875	0.6740	0.6602	0.6461
40	0.8423	0.8339	0.8251	0.8158	0.8061	0.7960	0.7854	0.7744	0.7630	0.7511	0.7388	0.7262	0.7131	0.6996	0.6858	0.6716
45	0.8644	0.8568	0.8488	0.8403	0.8313	0.8219	0.8120	0.8016	0.7907	0.7794	0.7676	0.7553	0.7425	0.7293	0.7157	0.7016
50	0.8862	0.8796	0.8726	0.8652	0.8572	0.8488	0.8398	0.8304	0.8204	0.8099	0.7989	0.7873	0.7752	0.7626	0.7494	0.7358
55	0.9067	0.9013	0.8955	0.8892	0.8825	0.8753	0.8676	0.8594	0.8506	0.8413	0.8315	0.8210	0.8100	0.7984	0.7861	0.7733
60	0.9252	0.9209	0.9163	0.9114	0.9060	0.9002	0.8939	0.8871	0.8798	0.8720	0.8636	0.8547	0.8451	0.8349	0.8241	0.8127
65	0.9413	0.9381	0.9347	0.9309	0.9268	0.9223	0.9175	0.9122	0.9065	0.9003	0.8936	0.8864	0.8786	0.8702	0.8612	0.8515
70	0.9549	0.9526	0.9502	0.9475	0.9445	0.9413	0.9377	0.9338	0.9296	0.9250	0.9200	0.9145	0.9085	0.9020	0.8950	0.8874
75	0.9661	0.9646	0.9629	0.9610	0.9590	0.9568	0.9543	0.9516	0.9487	0.9454	0.9419	0.9380	0.9337	0.9291	0.9240	0.9184
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.6105	0.5961	0.5814	0.5666	0.5516	0.5364	0.5211	0.5057	0.4901	0.4745	0.4589	0.4433	0.4276	0.4120	0.3965
35	0.6317	0.6170	0.6021	0.5870	0.5716	0.5561	0.5404	0.5245	0.5086	0.4925	0.4764	0.4603	0.4441	0.4280	0.4120
40	0.6571	0.6423	0.6271	0.6117	0.5960	0.5801	0.5640	0.5478	0.5313	0.5148	0.4981	0.4814	0.4647	0.4480	0.4313
45	0.6871	0.6722	0.6570	0.6414	0.6255	0.6093	0.5929	0.5762	0.5593	0.5422	0.5250	0.5077	0.4904	0.4730	0.4556
50	0.7216	0.7070	0.6919	0.6764	0.6605	0.6442	0.6275	0.6106	0.5933	0.5758	0.5581	0.5402	0.5222	0.5041	0.4860
55	0.7600	0.7460	0.7315	0.7164	0.7009	0.6848	0.6682	0.6513	0.6339	0.6162	0.5981	0.5798	0.5612	0.5425	0.5236
60	0.8006	0.7878	0.7744	0.7604	0.7457	0.7304	0.7144	0.6980	0.6809	0.6634	0.6454	0.6269	0.6081	0.5890	0.5696
65	0.8412	0.8302	0.8185	0.8060	0.7929	0.7790	0.7644	0.7491	0.7331	0.7164	0.6991	0.6812	0.6627	0.6437	0.6242
70	0.8792	0.8703	0.8607	0.8504	0.8394	0.8276	0.8151	0.8017	0.7876	0.7726	0.7568	0.7403	0.7230	0.7050	0.6863
75	0.9123	0.9056	0.8984	0.8905	0.8820	0.8727	0.8627	0.8519	0.8403	0.8279	0.8146	0.8004	0.7853	0.7694	0.7526

Table 6
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 2 - MALE MEMBER WITH MALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.8225	0.8135	0.8042	0.7944	0.7843	0.7737	0.7628	0.7515	0.7398	0.7277	0.7152	0.7024	0.6893	0.6758	0.6620	0.6479
35	0.8440	0.8356	0.8268	0.8176	0.8080	0.7979	0.7874	0.7764	0.7650	0.7532	0.7409	0.7283	0.7152	0.7019	0.6879	0.6738
40	0.8661	0.8586	0.8506	0.8422	0.8333	0.8239	0.8141	0.8038	0.7930	0.7817	0.7699	0.7576	0.7449	0.7317	0.7181	0.7041
45	0.8878	0.8814	0.8744	0.8670	0.8592	0.8508	0.8420	0.8326	0.8227	0.8123	0.8013	0.7898	0.7778	0.7652	0.7521	0.7385
50	0.9082	0.9029	0.8971	0.8910	0.8844	0.8773	0.8697	0.8616	0.8529	0.8437	0.8340	0.8236	0.8127	0.8012	0.7890	0.7763
55	0.9265	0.9224	0.9178	0.9130	0.9077	0.9020	0.8958	0.8891	0.8820	0.8743	0.8660	0.8572	0.8478	0.8377	0.8270	0.8157
60	0.9424	0.9393	0.9359	0.9323	0.9283	0.9239	0.9191	0.9140	0.9084	0.9023	0.8958	0.8887	0.8810	0.8728	0.8639	0.8544
65	0.9558	0.9536	0.9512	0.9486	0.9457	0.9426	0.9391	0.9353	0.9312	0.9267	0.9218	0.9165	0.9106	0.9043	0.8974	0.8900
70	0.9669	0.9654	0.9637	0.9619	0.9600	0.9578	0.9554	0.9528	0.9500	0.9468	0.9434	0.9396	0.9354	0.9309	0.9259	0.9205
75	0.9758	0.9748	0.9737	0.9726	0.9713	0.9699	0.9683	0.9666	0.9647	0.9626	0.9604	0.9579	0.9551	0.9520	0.9487	0.9450
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.6335	0.6189	0.6039	0.5887	0.5733	0.5577	0.5420	0.5261	0.5101	0.4940	0.4779	0.4617	0.4455	0.4294	0.4133
35	0.6592	0.6444	0.6292	0.6138	0.5981	0.5822	0.5660	0.5497	0.5333	0.5167	0.5000	0.4833	0.4665	0.4497	0.4330
40	0.6896	0.6747	0.6595	0.6439	0.6280	0.6118	0.5953	0.5786	0.5617	0.5446	0.5273	0.5100	0.4926	0.4751	0.4577
45	0.7244	0.7098	0.6948	0.6793	0.6634	0.6471	0.6304	0.6134	0.5962	0.5786	0.5609	0.5430	0.5249	0.5068	0.4886
50	0.7630	0.7491	0.7347	0.7197	0.7041	0.6881	0.6716	0.6546	0.6373	0.6195	0.6015	0.5831	0.5645	0.5457	0.5268
55	0.8037	0.7911	0.7778	0.7638	0.7492	0.7340	0.7182	0.7017	0.6848	0.6672	0.6493	0.6308	0.6120	0.5929	0.5734
60	0.8442	0.8334	0.8218	0.8095	0.7965	0.7828	0.7683	0.7531	0.7372	0.7206	0.7034	0.6855	0.6671	0.6481	0.6287
65	0.8819	0.8732	0.8638	0.8537	0.8429	0.8313	0.8189	0.8057	0.7917	0.7769	0.7613	0.7449	0.7278	0.7099	0.6913
70	0.9145	0.9081	0.9010	0.8933	0.8850	0.8759	0.8661	0.8555	0.8442	0.8319	0.8189	0.8049	0.7900	0.7743	0.7576
75	0.9409	0.9365	0.9315	0.9261	0.9202	0.9137	0.9066	0.8988	0.8904	0.8811	0.8711	0.8602	0.8485	0.8358	0.8222

Table 7
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 2 - FEMALE MEMBER WITH FEMALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.8453	0.8378	0.8300	0.8218	0.8133	0.8044	0.7952	0.7856	0.7757	0.7654	0.7547	0.7437	0.7324	0.7207	0.7087	0.6963
31	0.8628	0.8558	0.8485	0.8408	0.8327	0.8242	0.8154	0.8061	0.7965	0.7865	0.7760	0.7652	0.7540	0.7425	0.7305	0.7182
40	0.8806	0.8744	0.8678	0.8607	0.8533	0.8454	0.8372	0.8285	0.8194	0.8099	0.7999	0.7895	0.7786	0.7674	0.7557	0.7436
45	0.8981	0.8927	0.8869	0.8808	0.8742	0.8672	0.8598	0.8519	0.8436	0.8348	0.8256	0.8158	0.8056	0.7949	0.7838	0.7721
50	0.9146	0.9101	0.9053	0.9001	0.8946	0.8886	0.8822	0.8754	0.8681	0.8603	0.8521	0.8433	0.8341	0.8243	0.8140	0.8031
55	0.9296	0.9260	0.9222	0.9180	0.9135	0.9086	0.9034	0.8977	0.8917	0.8851	0.8781	0.8706	0.8626	0.8540	0.8450	0.8353
60	0.9428	0.9401	0.9372	0.9340	0.9305	0.9267	0.9226	0.9181	0.9133	0.9081	0.9024	0.8963	0.8897	0.8827	0.8751	0.8669
65	0.9543	0.9523	0.9502	0.9478	0.9452	0.9424	0.9394	0.9360	0.9324	0.9284	0.9241	0.9194	0.9143	0.9087	0.9027	0.8962
70	0.9641	0.9627	0.9612	0.9595	0.9577	0.9557	0.9535	0.9511	0.9485	0.9457	0.9425	0.9391	0.9354	0.9313	0.9268	0.9219
75	0.9724	0.9714	0.9704	0.9693	0.9680	0.9667	0.9652	0.9635	0.9618	0.9598	0.9576	0.9553	0.9527	0.9498	0.9467	0.9433
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.6837	0.6707	0.6574	0.6439	0.6300	0.6160	0.6016	0.5871	0.5723	0.5574	0.5422	0.5270	0.5116	0.4961	0.4805
35	0.7056	0.6925	0.6792	0.6655	0.6515	0.6372	0.6227	0.6078	0.5928	0.5775	0.5620	0.5464	0.5306	0.5147	0.4986
40	0.7311	0.7181	0.7048	0.6911	0.6771	0.6628	0.6480	0.6330	0.6176	0.6021	0.5862	0.5702	0.5540	0.5376	0.5211
45	0.7600	0.7474	0.7344	0.7209	0.7070	0.6927	0.6780	0.6629	0.6474	0.6316	0.6156	0.5992	0.5826	0.5658	0.5488
50	0.7918	0.7799	0.7675	0.7545	0.7411	0.7271	0.7127	0.6977	0.6824	0.6666	0.6505	0.6339	0.6171	0.5999	0.5825
55	0.8251	0.8143	0.8029	0.7909	0.7783	0.7652	0.7514	0.7371	0.7223	0.7069	0.6910	0.6746	0.6578	0.6406	0.6230
60	0.8582	0.8488	0.8389	0.8283	0.8171	0.8053	0.7928	0.7796	0.7658	0.7514	0.7363	0.7206	0.7043	0.6875	0.6701
65	0.8892	0.8816	0.8735	0.8647	0.8553	0.8452	0.8345	0.8230	0.8109	0.7980	0.7844	0.7701	0.7550	0.7393	0.7229
70	0.9166	0.9109	0.9046	0.8978	0.8904	0.8824	0.8738	0.8645	0.8545	0.8437	0.8322	0.8200	0.8069	0.7931	0.7784
75	0.9395	0.9354	0.9309	0.9260	0.9206	0.9147	0.9082	0.9012	0.8936	0.8853	0.8763	0.8666	0.8561	0.8449	0.8327

Table 8
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 2 - FEMALE MEMBER WITH MALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.8641	0.8572	0.8499	0.8423	0.8342	0.8258	0.8170	0.8078	0.7982	0.7882	0.7778	0.7670	0.7558	0.7443	0.7323	0.7200
35	0.8820	0.8758	0.8692	0.8622	0.8549	0.8471	0.8389	0.8303	0.8212	0.8117	0.8018	0.7914	0.7806	0.7694	0.7577	0.7457
40	0.8994	0.8941	0.8884	0.8823	0.8758	0.8689	0.8615	0.8537	0.8455	0.8368	0.8276	0.8179	0.8078	0.7971	0.7860	0.7744
45	0.9158	0.9114	0.9067	0.9016	0.8961	0.8902	0.8839	0.8771	0.8699	0.8622	0.8541	0.8454	0.8363	0.8266	0.8163	0.8056
50	0.9307	0.9272	0.9234	0.9193	0.9149	0.9101	0.9049	0.8994	0.8934	0.8869	0.8800	0.8726	0.8647	0.8563	0.8473	0.8378
55	0.9438	0.9411	0.9382	0.9351	0.9317	0.9280	0.9240	0.9196	0.9149	0.9097	0.9042	0.8982	0.8917	0.8848	0.8773	0.8692
60	0.9551	0.9532	0.9511	0.9488	0.9463	0.9435	0.9405	0.9373	0.9337	0.9298	0.9256	0.9210	0.9160	0.9106	0.9047	0.8983
65	0.9648	0.9634	0.9620	0.9603	0.9586	0.9566	0.9545	0.9522	0.9496	0.9468	0.9438	0.9405	0.9368	0.9328	0.9285	0.9237
70	0.9730	0.9720	0.9710	0.9699	0.9687	0.9674	0.9660	0.9644	0.9627	0.9608	0.9587	0.9564	0.9539	0.9511	0.9481	0.9447
75	0.9797	0.9791	0.9785	0.9778	0.9770	0.9761	0.9752	0.9742	0.9730	0.9718	0.9704	0.9689	0.9673	0.9655	0.9635	0.9613
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.7074	0.6944	0.6810	0.6673	0.6533	0.6390	0.6244	0.6096	0.5945	0.5792	0.5637	0.5480	0.5322	0.5163	0.5002
35	0.7332	0.7203	0.7070	0.6933	0.6792	0.6648	0.6501	0.6351	0.6197	0.6041	0.5883	0.5722	0.5560	0.5396	0.5230
40	0.7624	0.7498	0.7368	0.7234	0.7095	0.6952	0.6805	0.6654	0.6499	0.6341	0.6180	0.6016	0.5850	0.5682	0.5511
45	0.7943	0.7825	0.7701	0.7572	0.7438	0.7299	0.7155	0.7006	0.6853	0.6695	0.6534	0.6368	0.6200	0.6028	0.5854
50	0.8276	0.8169	0.8056	0.7937	0.7813	0.7682	0.7545	0.7403	0.7255	0.7101	0.6943	0.6780	0.6612	0.6439	0.6263
55	0.8606	0.8514	0.8416	0.8312	0.8201	0.8084	0.7960	0.7830	0.7692	0.7549	0.7399	0.7243	0.7081	0.6913	0.6740
60	0.8914	0.8840	0.8760	0.8674	0.8581	0.8482	0.8376	0.8263	0.8143	0.8016	0.7881	0.7739	0.7590	0.7434	0.7270
65	0.9186	0.9129	0.9068	0.9001	0.8929	0.8851	0.8766	0.8675	0.8576	0.8471	0.8358	0.8237	0.8108	0.7972	0.7827
70	0.9411	0.9371	0.9327	0.9279	0.9226	0.9169	0.9106	0.9038	0.8963	0.8882	0.8795	0.8699	0.8597	0.8486	0.8367
75	0.9588	0.9562	0.9532	0.9500	0.9464	0.9425	0.9382	0.9335	0.9283	0.9225	0.9163	0.9094	0.9019	0.8937	0.8848

Table 9
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 3 - MALE MEMBER WITH FEMALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.8895	0.8837	0.8776	0.8712	0.8645	0.8575	0.8502	0.8426	0.8346	0.8263	0.8176	0.8086	0.7993	0.7895	0.7795	0.7690
35	0.9016	0.8962	0.8904	0.8844	0.8780	0.8713	0.8643	0.8569	0.8492	0.8412	0.8327	0.8240	0.8148	0.8052	0.7953	0.7850
40	0.9144	0.9094	0.9041	0.8986	0.8926	0.8864	0.8798	0.8728	0.8655	0.8579	0.8498	0.8414	0.8325	0.8233	0.8136	0.8036
45	0.9273	0.9229	0.9182	0.9132	0.9079	0.9022	0.8962	0.8899	0.8831	0.8760	0.8685	0.8606	0.8522	0.8435	0.8343	0.8246
50	0.9397	0.9360	0.9320	0.9277	0.9231	0.9182	0.9129	0.9073	0.9013	0.8950	0.8882	0.8810	0.8734	0.8653	0.8568	0.8478
55	0.9511	0.9481	0.9448	0.9414	0.9376	0.9335	0.9291	0.9244	0.9193	0.9138	0.9080	0.9017	0.8950	0.8879	0.8803	0.8722
60	0.9611	0.9588	0.9563	0.9536	0.9507	0.9474	0.9440	0.9402	0.9361	0.9316	0.9268	0.9216	0.9161	0.9100	0.9036	0.8967
65	0.9697	0.9681	0.9662	0.9642	0.9620	0.9596	0.9570	0.9541	0.9510	0.9475	0.9438	0.9398	0.9354	0.9306	0.9254	0.9198
70	0.9769	0.9757	0.9744	0.9730	0.9714	0.9697	0.9678	0.9658	0.9635	0.9610	0.9583	0.9553	0.9521	0.9485	0.9446	0.9403
75	0.9828	0.9820	0.9811	0.9801	0.9791	0.9779	0.9766	0.9752	0.9737	0.9720	0.9701	0.9680	0.9657	0.9632	0.9605	0.9574
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.7582	0.7469	0.7353	0.7234	0.7110	0.6983	0.6852	0.6717	0.6578	0.6436	0.6291	0.6143	0.5991	0.5836	0.5679
35	0.7743	0.7632	0.7517	0.7397	0.7274	0.7147	0.7016	0.6881	0.6742	0.6600	0.6454	0.6304	0.6151	0.5995	0.5835
40	0.7931	0.7822	0.7708	0.7591	0.7469	0.7343	0.7213	0.7078	0.6939	0.6797	0.6650	0.6500	0.6346	0.6188	0.6027
45	0.8145	0.8040	0.7930	0.7815	0.7696	0.7573	0.7444	0.7311	0.7174	0.7032	0.6886	0.6735	0.6581	0.6422	0.6260
50	0.8383	0.8284	0.8179	0.8070	0.7955	0.7836	0.7712	0.7582	0.7448	0.7308	0.7164	0.7015	0.6861	0.6703	0.6541
55	0.8636	0.8545	0.8449	0.8348	0.8241	0.8129	0.8011	0.7888	0.7759	0.7625	0.7485	0.7340	0.7190	0.7034	0.6873
60	0.8893	0.8813	0.8729	0.8639	0.8543	0.8442	0.8334	0.8221	0.8102	0.7976	0.7845	0.7707	0.7563	0.7413	0.7258
65	0.9138	0.9072	0.9002	0.8926	0.8845	0.8758	0.8665	0.8566	0.8460	0.8348	0.8229	0.8103	0.7971	0.7832	0.7686
70	0.9357	0.9307	0.9252	0.9192	0.9127	0.9057	0.8981	0.8900	0.8812	0.8717	0.8616	0.8508	0.8393	0.8270	0.8140
75	0.9541	0.9505	0.9465	0.9421	0.9373	0.9320	0.9263	0.9200	0.9132	0.9058	0.8978	0.8891	0.8798	0.8697	0.8588

Table 10
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 3 - MALE MEMBER WITH MALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.9026	0.8972	0.8914	0.8854	0.8791	0.8724	0.8654	0.8581	0.8504	0.8424	0.8340	0.8252	0.8161	0.8065	0.7966	0.7863
35	0.9154	0.9105	0.9052	0.8997	0.8938	0.8876	0.8810	0.8741	0.8668	0.8592	0.8512	0.8428	0.8340	0.8248	0.8151	0.8051
40	0.9283	0.9239	0.9193	0.9143	0.9091	0.9035	0.8975	0.8912	0.8845	0.8774	0.8700	0.8621	0.8538	0.8451	0.8359	0.8263
45	0.9406	0.9369	0.9330	0.9288	0.9243	0.9194	0.9142	0.9087	0.9027	0.8964	0.8897	0.8826	0.8750	0.8670	0.8585	0.8496
50	0.9519	0.9490	0.9458	0.9423	0.9386	0.9346	0.9303	0.9256	0.9206	0.9152	0.9095	0.9033	0.8967	0.8896	0.8821	0.8741
55	0.9618	0.9596	0.9572	0.9545	0.9516	0.9484	0.9450	0.9413	0.9373	0.9329	0.9282	0.9231	0.9176	0.9117	0.9053	0.8985
60	0.9703	0.9687	0.9669	0.9649	0.9628	0.9604	0.9579	0.9551	0.9520	0.9487	0.9450	0.9411	0.9367	0.9321	0.9270	0.9215
65	0.9774	0.9763	0.9750	0.9736	0.9721	0.9704	0.9686	0.9666	0.9644	0.9620	0.9593	0.9564	0.9532	0.9497	0.9459	0.9418
70	0.9832	0.9824	0.9815	0.9806	0.9796	0.9784	0.9772	0.9758	0.9743	0.9727	0.9709	0.9689	0.9666	0.9642	0.9615	0.9586
75	0.9877	0.9872	0.9867	0.9861	0.9854	0.9847	0.9839	0.9830	0.9820	0.9810	0.9798	0.9785	0.9770	0.9754	0.9737	0.9717
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.7756	0.7645	0.7530	0.7411	0.7288	0.7161	0.7030	0.6895	0.6756	0.6614	0.6467	0.6318	0.6164	0.6008	0.5849
35	0.7946	0.7837	0.7724	0.7607	0.7485	0.7359	0.7229	0.7095	0.6956	0.6813	0.6667	0.6516	0.6362	0.6204	0.6044
40	0.8163	0.8058	0.7948	0.7834	0.7715	0.7591	0.7463	0.7331	0.7193	0.7052	0.6905	0.6755	0.6601	0.6442	0.6280
45	0.8402	0.8303	0.8199	0.8090	0.7976	0.7857	0.7733	0.7604	0.7470	0.7331	0.7187	0.7038	0.6885	0.6727	0.6565
50	0.8656	0.8566	0.8470	0.8370	0.8264	0.8152	0.8035	0.7913	0.7785	0.7651	0.7511	0.7367	0.7217	0.7061	0.6901
55	0.8912	0.8834	0.8750	0.8661	0.8566	0.8466	0.8360	0.8247	0.8129	0.8004	0.7873	0.7736	0.7593	0.7444	0.7289
60	0.9155	0.9091	0.9022	0.8947	0.8867	0.8782	0.8690	0.8592	0.8487	0.8376	0.8259	0.8134	0.8003	0.7865	0.7720
65	0.9372	0.9323	0.9269	0.9211	0.9147	0.9079	0.9004	0.8924	0.8838	0.8745	0.8645	0.8538	0.8424	0.8303	0.8175
70	0.9554	0.9518	0.9479	0.9436	0.9390	0.9339	0.9283	0.9222	0.9155	0.9083	0.9004	0.8919	0.8827	0.8728	0.8621
75	0.9696	0.9672	0.9646	0.9617	0.9584	0.9549	0.9510	0.9467	0.9420	0.9368	0.9311	0.9249	0.9180	0.9106	0.9024

Table 11
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 3 - FEMALE MEMBER WITH FEMALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.9162	0.9117	0.9071	0.9022	0.8970	0.8916	0.8859	0.8799	0.8737	0.8671	0.8602	0.8530	0.8455	0.8377	0.8295	0.8210
35	0.9263	0.9223	0.9180	0.9135	0.9087	0.9036	0.8983	0.8927	0.8867	0.8805	0.8739	0.8670	0.8598	0.8522	0.8443	0.8360
40	0.9365	0.9330	0.9292	0.9251	0.9208	0.9162	0.9114	0.9062	0.9007	0.8949	0.8888	0.8824	0.8755	0.8684	0.8608	0.8529
45	0.9463	0.9433	0.9401	0.9366	0.9329	0.9289	0.9246	0.9200	0.9155	0.9100	0.9044	0.8986	0.8924	0.8858	0.8788	0.8714
50	0.9554	0.9529	0.9503	0.9474	0.9443	0.9410	0.9374	0.9335	0.9294	0.9249	0.9201	0.9150	0.9095	0.9037	0.8975	0.8908
55	0.9635	0.9616	0.9595	0.9573	0.9548	0.9521	0.9492	0.9461	0.9427	0.9391	0.9351	0.9308	0.9262	0.9213	0.9160	0.9103
60	0.9706	0.9691	0.9676	0.9659	0.9640	0.9620	0.9597	0.9573	0.9547	0.9518	0.9487	0.9453	0.9417	0.9377	0.9334	0.9287
65	0.9766	0.9756	0.9744	0.9732	0.9718	0.9704	0.9687	0.9669	0.9650	0.9629	0.9605	0.9580	0.9552	0.9522	0.9489	0.9453
70	0.9817	0.9810	0.9802	0.9793	0.9784	0.9773	0.9762	0.9749	0.9736	0.9721	0.9704	0.9686	0.9666	0.9644	0.9620	0.9594
75	0.9860	0.9855	0.9850	0.9844	0.9837	0.9830	0.9823	0.9814	0.9805	0.9795	0.9784	0.9771	0.9758	0.9743	0.9726	0.9708
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.8121	0.8029	0.7933	0.7834	0.7730	0.7623	0.7513	0.7398	0.7280	0.7158	0.7032	0.6902	0.6769	0.6632	0.6491
35	0.8274	0.8183	0.8089	0.7992	0.7890	0.7784	0.7675	0.7561	0.7443	0.7322	0.7196	0.7067	0.6933	0.6796	0.6655
40	0.8446	0.8360	0.8269	0.8174	0.8075	0.7971	0.7864	0.7752	0.7636	0.7516	0.7392	0.7263	0.7130	0.6993	0.6852
45	0.8637	0.8555	0.8469	0.8378	0.8284	0.8185	0.8081	0.7973	0.7860	0.7742	0.7620	0.7494	0.7363	0.7227	0.7087
50	0.8838	0.8763	0.8684	0.8601	0.8513	0.8420	0.8322	0.8220	0.8112	0.8000	0.7882	0.7760	0.7632	0.7499	0.7362
55	0.9042	0.8976	0.8907	0.8832	0.8753	0.8670	0.8581	0.8487	0.8387	0.8283	0.8173	0.8057	0.7936	0.7809	0.7677
60	0.9237	0.9182	0.9124	0.9061	0.8994	0.8921	0.8844	0.8762	0.8674	0.8580	0.8481	0.8376	0.8265	0.8148	0.8025
65	0.9414	0.9371	0.9325	0.9274	0.9220	0.9161	0.9098	0.9029	0.8956	0.8877	0.8792	0.8701	0.8604	0.8501	0.8391
70	0.9565	0.9534	0.9499	0.9461	0.9420	0.9375	0.9326	0.9273	0.9215	0.9152	0.9084	0.9011	0.8932	0.8846	0.8754
75	0.9688	0.9666	0.9642	0.9616	0.9586	0.9554	0.9519	0.9480	0.9438	0.9392	0.9341	0.9286	0.9225	0.9159	0.9087

Table 12
FACTORS FOR OBTAINING ANNUITIES AND PENSIONS UNDER OPTION 3 - FEMALE MEMBER WITH MALE BENEFICIARY

Age of	Age of Member
Bene- ficiary	40	41	42	43	44	45	46	47	48	49	50	51	52	53	54	55
30	0.9271	0.9231	0.9189	0.9144	0.9096	0.9046	0.8993	0.8937	0.8878	0.8815	0.8750	0.8681	0.8609	0.8534	0.8455	0.8372
35	0.9373	0.9338	0.9300	0.9260	0.9217	0.9172	0.9124	0.9073	0.9018	0.8961	0.8900	0.8836	0.8768	0.8697	0.8622	0.8543
40	0.9470	0.9441	0.9409	0.9375	0.9338	0.9298	0.9256	0.9211	0.9163	0.9111	0.9056	0.8998	0.8937	0.8871	0.8802	0.8729
45	0.9561	0.9536	0.9510	0.9482	0.9452	0.9419	0.9383	0.9345	0.9304	0.9260	0.9213	0.9162	0.9108	0.9050	0.8989	0.8923
50	0.9641	0.9622	0.9602	0.9580	0.9555	0.9529	0.9501	0.9470	0.9437	0.9401	0.9362	0.9320	0.9275	0.9226	0.9173	0.9117
55	0.9711	0.9697	0.9681	0.9665	0.9646	0.9626	0.9605	0.9581	0.9555	0.9527	0.9497	0.9464	0.9428	0.9389	0.9346	0.9300
60	0.9770	0.9760	0.9749	0.9737	0.9724	0.9709	0.9693	0.9676	0.9657	0.9636	0.9614	0.9589	0.9562	0.9532	0.9500	0.9464
65	0.9821	0.9814	0.9806	0.9798	0.9788	0.9778	0.9767	0.9755	0.9742	0.9727	0.9711	0.9693	0.9674	0.9652	0.9629	0.9603
70	0.9863	0.9858	0.9853	0.9847	0.9841	0.9834	0.9827	0.9819	0.9810	0.9800	0.9789	0.9777	0.9764	0.9749	0.9733	0.9716
75	0.9898	0.9895	0.9891	0.9888	0.9884	0.9879	0.9874	0.9869	0.9863	0.9857	0.9850	0.9842	0.9834	0.9824	0.9814	0.9802
	56	57	58	59	60	61	62	63	64	65	66	67	68	69	70
30	0.8286	0.8196	0.8102	0.8005	0.7903	0.7798	0.7688	0.7575	0.7457	0.7336	0.7210	0.7081	0.6947	0.6810	0.6668
35	0.8460	0.8374	0.8283	0.8189	0.8090	0.7987	0.7880	0.7768	0.7652	0.7532	0.7408	0.7279	0.7146	0.7009	0.6868
40	0.8652	0.8570	0.8485	0.8395	0.8301	0.8202	0.8098	0.7991	0.7878	0.7761	0.7639	0.7513	0.7382	0.7246	0.7106
45	0.8854	0.8780	0.8701	0.8618	0.8531	0.8439	0.8341	0.8239	0.8133	0.8021	0.7904	0.7781	0.7654	0.7522	0.7385
50	0.9057	0.8992	0.8924	0.8850	0.8772	0.8689	0.8601	0.8508	0.8409	0.8305	0.8196	0.8081	0.7960	0.7834	0.7703
55	0.9251	0.9198	0.9140	0.9078	0.9012	0.8940	0.8864	0.8783	0.8696	0.8603	0.8505	0.8401	0.8291	0.8175	0.8053
60	0.9426	0.9384	0.9339	0.9290	0.9236	0.9179	0.9116	0.9049	0.8976	0.8899	0.8815	0.8726	0.8630	0.8528	0.8420
65	0.9575	0.9545	0.9511	0.9474	0.9434	0.9390	0.9342	0.9290	0.9234	0.9172	0.9106	0.9033	0.8955	0.8871	0.8781
70	0.9696	0.9675	0.9652	0.9626	0.9598	0.9566	0.9532	0.9495	0.9453	0.9408	0.9359	0.9305	0.9245	0.9181	0.9111
75	0.9790	0.9776	0.9761	0.9744	0.9725	0.9704	0.9681	0.9656	0.9628	0.9597	0.9563	0.9526	0.9484	0.9439	0.9389

Table 13
4% COMPOUND INTEREST FACTORS

Years		Years
1.	1.0400	19.	2.1068
2.	1.0816	20.	2.1911
3.	1.1248	21.	2.2787
4.	1.1698	22.	2.3699
5.	1.2166	23.	2.4647
6.	1.2653	24.	2.5633
7.	1.3159	25.	2.6658
8.	1.3685	26.	2.7724
9.	1.4233	27.	2.8833
10.	1.4802	28.	2.9987
11.	1.5394	29.	3.1186
12.	1.6010	30.	3.2433
13.	1.6650	31.	3.3731
14.	1.7316	32.	3.5080
15.	1.8009	33.	3.6483
16.	1.8729	34.	3.7943
17.	1.9479	35.	3.9460
18.	2.0258

[Pa.B. Doc. No. 97-1200. Filed for public inspection July 25, 1997, 9:00 a.m.]