Part 5018 - Actuarial Assumptions

Section 5018.3 -  Mortality tables for the determination of benefits accrued prior to August 1, 1983. The mortality tables to be used in the computation of benefits accrued prior to August 1, 1983 shall be as follows:

Section 5018.3(a) Service annuitants.

Section 5018.3(a)(1) In calculating regular annuities without optional modification and annuity without optional modification on account of additional contributions, the interest rate of four percent shall be used in conjunction with the following tables:

1. For male members who joined prior to February 1, 1946
   
   

2. For female members who joined prior to February 1, 1946
   
   

3. For male members who joined on or after February 1, 1946, but prior to January 1, 1956
   
   

4. For female members who joined on or after February 1, 1946,
   but prior to January 1, 1956
   
   

5. For male members who joined on or after January 1, 1956,
   but prior to July 1, 1961
   
   

6. For female members who joined on or after January 1, 1956, 
   but prior to July 1, 1961
   
   

7. For male members who joined on or after July 1, 1961
   
   

8. For female members who joined on or after July 1, 1961

Section 5018.3(a)(2) - Effective October 26, 2006, in calculating the benefits pursuant to subdivision b(3) of Section 512 of the Education Law, the interest rate of 4 percent for members who joined prior to July 1, 1948, and 3 percent for members who joined subsequent to June 30, 1948, shall be used in conjunction with this table.

Section 5018.3(a)(3) - In calculating option factors for regular annuities, additional annuities and pensions, the following tables will be used.

1. For male members
   
   
2. For female members 
   
   
3. For male beneficiaries of members
   
   
4. For female beneficiaries of members

(Statutory authority: Education Law §§501 [subd. 9(b), (c)], 508 [subd. 4], 517)