Annuity Factor Calculator
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Discount Rate ( N.NN% )
Annual COLA ( N.NN% )
Annuity Type
Survivor Benefit Prct (%)
Payment Frequency
Certain Period (years)
Benefit Commencement Age
Primary Annuitant Age
Primary Annuitant Gender
Beneficiary Age
Beneficiary Gender
Valuation Year
Mortality Before BCA *
Mortality After BCA *
Projection Method
Projection Scale
Static Projection Years
Blend Mortality Rates?
Blending Male Percentage
Setback Years, Male
Setback Years, Female
(*) BCA = Benefit Commencement Age

About the Annuity Factor Calculator

The Society of Actuaries (SOA) developed the Annuity Factor Calculator to calculate an annuity factor using user-selected annuity forms, mortality tables and projection scales commonly used for defined benefit pension plans in the United States or Canada. This tool is designed to calculate relatively simple annuity factors for users who are accustomed to making actuarial calculations for defined benefit pension plans in the United States or Canada.

The Annuity Factor Calculator is not intended to replace actuarial valuation software or similar software used in the administration of defined benefit plans or pricing of insured annuities, and should not be used for such purposes.

For more information about technical terms as defined for use with this calculator, please see the Technical Terms.

Contact research@soa.org, with any questions or comments about the Annuity Factor Calculator.

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Mortality Tables

The Annuity Factor Calculator allows users to select any of the mortality tables listed below. For some of the tables, reports and background material are available. In addition, the tables are available in electronic form.

UP_94
1994 Uninsured Pensioner (UP-94) Mortality Table (formerly called the 1994 GAM Basic Table). Basis: Age Nearest Birthday. Ages 18-120. Base Year 1994.
RP2000_1992_Employee
RP-2000 Mortality Table - Employee. Ages 18-70. Base Year 1992.
RP2000_1992_HealthyAnnuit
RP-2000 Mortality Table - Healthy Annuitants. Ages 50-120. Base Year 1992.
RP2000_1992_Disabled
RP-2000 Mortality Table Aggregate Disabled Retiree. Ages 18-120. Base Year 1992.
RP2000_1992_CombinedHealthy
RP-2000 Mortality Table - Combined Healthy Participant. Ages 18-120. Base Year 1992.
RP2000_Employee
RP-2000 Mortality Table - Employees (Table 4-5, 4-6 in the RP-2000 Mortality Tables Report). Ages 18-70. Base Year 2000.
RP2000_HealthyAnnuit
RP-2000 Mortality Table - Healthy Annuitant (Table 4-5, 4-6 in the RP-2000 Mortality Tables Report). Ages 50-120. Base Year 2000.
RP2000_CombinedHealthy
RP-2000 Mortality Table - Combined Healthy (Table 4-5, 4-6 in the RP-2000 Mortality Tables Report). Ages 18-120. Base Year 2000.
RP2000_WhiteCol
RP-2000 Mortality Table - White Collar (Table S-2 in the RP-2000 Mortality Tables Report). Ages 18-120. Base Year 2000.
RP2000_BlueCol
RP-2000 Mortality Table - Blue Collar, 1992 Base Year Rates (Table S-1 in the RP-2000 Mortality Tables Report). Ages 18-120. Base Year 2000.
RP2000_Disabled
RP-2000 Mortality Table - Disabled Retiree, (Table 4-5, 4-6 in the RP-2000 Mortality Tables Report). Ages 18-120. Base Year 2000.
2012 IAM Basic Table
2012 Individual Annuity Mortality Basic Table. Basis: Age Nearest Birthday. Ages 18-120. Base Year 2012.
2012 IAM Period Table
2012 Individual Annuity Mortality Period Table. Basis: Age Nearest Birthday. Ages 18-120. Base Year 2012.
RP2014_Employee
RP-2014 Total Dataset-Employee (pages 54-56 in the RP-2014 Mortality Tables Report). Ages 18-80. Base Year 2014.
RP2014_HealthyAnnuit
RP-2014 Total Dataset-Healthy Annuitant (pages 54-56 in the RP-2014 Mortality Tables Report). Ages 50-120. Base Year 2014.
RP2014_WhiteCol_Employee
RP-2014 White Collar-Healthy Annuitant (pages 60-62 in the RP-2014 Mortality Tables Report). Ages 18-80. Base Year 2014.
RP2014_WhiteCol_HealthyAnnuit
RP-2014 White Collar-Employee (pages 60-62 in the RP-2014 Mortality Tables Report). Ages 50-120. Base Year 2014.
RP2014_BlueCol_Employee
RP-2014 Blue Collar-Employee (pages 57-59 in the RP-2014 Mortality Tables Report). Ages 18-80. Base Year 2014.
RP2014_BlueCol_HealthyAnnuit
RP-2014 Blue Collar-Healthy Annuitant (pages 57-59 in the RP-2014 Mortality Tables Report). Ages 50-120. Base Year 2014.
RP2014_Bot25%_Employee
RP-2014 Bottom Quartile-Employee (pages 63-65 in the RP-2014 Mortality Tables Report). Ages 18-80. Base Year 2014.
RP2014_Bot25%_HealthyAnnuit
RP-2014 Bottom Quartile-Healthy Annuitant (pages 63-65 in the RP-2014 Mortality Tables Report). Ages 50-120. Base Year 2014.
RP2014_Top25%_Employee
RP-2014 Top Quartile-Employee (pages 66-68 in the RP-2014 Mortality Tables Report). Ages 18-80. Base Year 2014.
RP2014_Top25%_HealthyAnnuit
RP-2014 Top Quartile-Healthy Annuitant (pages 66-68 in the RP-2014 Mortality Tables Report). Ages 50-120. Base Year 2014.
RP2014_Disabled
RP-2014 Total Dataset-Disabled Retiree (pages 54-56 in the RP-2014 Mortality Tables Report). Ages 18-120. Base Year 2014.
RP2014_2006_Employee
RP-2014 Total Dataset-Employee, projected back to 2006 using MP-2014 (per Q6 of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-80. Base year 2006.
RP2014_2006_HealthyAnnuit
RP-2014 Total Dataset-Healthy Annuitant, projected back to 2006 using MP-2014 (per Q6 of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 50-120. Base year 2006.
RP2014_2006_WhiteCol_Employee
RP-2014 White Collar-Healthy Annuitant, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-80. Base year 2006.
RP2014_2006_WhiteCol_HealthyAnnuit
RP-2014 White Collar-Employee, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 50-120. Base year 2006.
RP2014_2006_BlueCol_Employee
RP-2014 Blue Collar-Employee, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-80. Base year 2006.
RP2014_2006_BlueCol_HealthyAnnuit
RP-2014 Blue Collar-Healthy Annuitant, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 50-120. Base year 2006.
RP2014_2006_Bot25%_Employee
RP-2014 Bottom Quartile-Employee, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-80. Base year 2006.
RP2014_2006_Bot25%_HealthyAnnuit
RP-2014 Bottom Quartile-Healthy Annuitant, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 50-120. Base year 2006.
RP2014_2006_Top25%_Employee
RP-2014 Top Quartile-Employee, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-80. Base year 2006.
RP2014_2006_Top25%_HealthyAnnuit
RP-2014 Top Quartile-Healthy Annuitant, projected back to 2006 using MP-2014 (per "Q6" of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 50-120. Base year 2006.
RP2014_2006_Disabled
RP-2014 Total Dataset-Disabled Retiree, projected back to 2006 using MP-2014 (per Q6 of Section 7 of the Mortality Improvement Scale MP-2016 report). Ages 18-120. Base year 2006.
417_2009_Unisex
2009 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2010_Unisex
2010 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2011_Unisex
2011 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2012_Unisex
2012 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2013_Unisex
2013 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2014_Unisex
2014 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2015_Unisex
2015 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2016_Unisex
2016 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2017_Unisex
2017 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
417_2018_Unisex
2018 Table for Distributions Subject to Internal Revenue Code section 417(e)(3). Ages 18-120.
430_2009_NonAnnuitant
2009 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2009_Annuitant
2009 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2009_Small_Plans
2009 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2010_NonAnnuitant
2010 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2010_Annuitant
2010 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2010_Small_Plans
2010 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2011_NonAnnuitant
2011 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2011_Annuitant
2011 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2011_Small_Plans
2011 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2012_NonAnnuitant
2012 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2012_Annuitant
2012 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2012_Small_Plans
2012 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2013_NonAnnuitant
2013 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2013_Annuitant
2013 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2013_Small_Plans
2013 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2014_NonAnnuitant
2014 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2014_Annuitant
2014 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2014_Small_Plans
2014 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2015_NonAnnuitant
2015 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2015_Annuitant
2015 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2015_Small_Plans
2015 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2016_NonAnnuitant
2016 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2016_Annuitant
2016 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2016_Small_Plans
2016 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2017_NonAnnuitant
2017 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2017_Annuitant
2017 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2017_Small_Plans
2017 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
430_2018_NonAnnuitant
2018 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Employee table projected 15 years beyond the plan year using scale AA. Ages 18-120.
430_2018_Annuitant
2018 plan year Internal Revenue Code section 430 single employer minimum funding: RP2000 Healthy Annuitant table projected 7 years beyond the plan year with scale AA. Ages 18-120.
430_2018_Small_Plans
2018 Internal Revenue Code section 430 single employer minimum funding: Optional Combined Table for Small Plans. Ages 18-120.
CPM2014
CPM2014 Mortality Table, based on data from both public and private sector plans for 1999-2008, projected forward to 2014 using the CPM Improvement Scale B. Ages 18-115. Base Year 2014.
CPM2014_Public
CPM2014 Public Sector Mortality Table, based on data indicated as public for 1999-2008, projected forward to 2014 using the CPM Improvement Scale B. Ages 18-115. Base Year 2014.
CPM2014_Private
CPM2014 Private Sector Mortality Table, based on data indicated as private for 1999-2008, projected forward to 2014 using the CPM Improvement Scale B. Ages 18-115. Base Year 2014.
None
Mortality rates are set to zero below the benefit commencement age.
Projection Scales

The Annuity Factor Calculator allows users to select any of the mortality projection scales listed below. For some of the projection scales, reports and background material are available. In addition, the projection scales are available in electronic form.

G2
Mortality improvement projection scale G2. Basis: Age Nearest Birthday.
BB_1D
Interim one-dimensional mortality improvement scale BB.
BB_2D
Two-dimensional mortality improvement rates underlying projection scale BB.
AA
1994 mortality improvement projection scale AA.
MP2014
Scale MP-2014
MP2015
Scale MP-2015
MP2016
Scale MP-2016
MP2017
Scale MP-2017
CPM2014_B
CPM Improvement Scale B for use with the CPM2014 tables.
CPM2014_B1
CPM Improvement Scale B1-2014 for use with the RPP 2014 tables before 2016.
Questions or Comments
If you have questions or comments, please email research@soa.org.
Calculator Disclaimer

The SOA makes no warranty, guarantee or representation, either expressed or implied, regarding the Annuity Factor Calculator (“Calculator”), including its quality, accuracy, reliability , or suitability and HEREBY DISCLAIMS ANY WARRANTY REGARDING THE CALCULATOR’S MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

SOA makes no warranty that the Calculator is free from errors, defects, worms, viruses or other elements or codes that manifest contaminating or destructive properties.

In no event shall SOA be liable for damages (including any lost profits, lost savings, or direct, indirect, incidental, consequential or other damages) in connection with or resulting from the use, misuse, reliance on, or performance of any aspect of the Calculator.

The user assumes all responsibility for the use or misuse of the Calculator.

Technical Terms

The definitions and descriptions below apply to the Society of Actuaries Annuity Factor Calculator (AFC). These terms may have different definitions or applications in other contexts, including other materials or products prepared by the Society of Actuaries or other actuarial organizations.

Age
In whole years to the nearest birthday.
Annuity factor
Annuity factors computed by the AFC are for use with annualized benefit amounts.
Certain and life annuity
Annual or monthly benefits paid beginning immediately and continuing for as long as the primary annuitant lives, but for at least as long as the specified certain period. For a deferred annuity, the certain period begins when benefits begin. If the annuitant dies during the certain period, payments continue to a beneficiary or estate until the end of the certain period.
COLA (Cost of Living Adjustment)
The annual rate at which benefits are increased after benefit commencement. No increases are assumed to occur prior to benefit commencement.
Deferred annuity
Annual or monthly benefits paid beginning at a specified future benefit commencement age provided that the annuitant lives to that age
Duration
The approximate percentage change in annuity factor per 100 basis point change in discount rate. Duration of 8.2 means that for discount rate decrease of 100 basis points, the annuity factor will increase by approximately 8.2%. There are a variety of types of duration; AFC calculates effective duration.
Generational mortality projection
Mortality rates are projected from the table's base year.
Joint and survivor annuity
Annual or monthly benefits paid beginning immediately to a primary annuitant for as long as the primary annuitant lives. Upon the primary annuitant’s death, if the beneficiary is living, a specified percentage of the primary annuitant’s benefit continues to the beneficiary for as long as he or she lives.
Joint life annuity
Annual or monthly benefits paid for as long as both the primary annuitant and beneficiary live; benefits cease upon the first death of the primary annuitant or beneficiary.
Mortality projection
Mortality improvement is assumed for whole numbers of years. For descriptions of the specific mortality projection (improvement) scales available in the AFC see Projection Scales.
Mortality table
For the descriptions of the specific mortality tables available in the AFC see Mortality Tables.
Payment timing
Benefits are assumed to be paid at the beginning of a period unless specified otherwise
Single life annuity
Annual or monthly benefits paid beginning immediately and continuing for as long as the annuitant lives; payments cease when the annuitant dies.
Static mortality projection
Mortality rates are projected from the table's base year year to the valuation year plus the number of static projection years.
Uniform distribution of deaths
AFC assumes uniform distribution of deaths during a year.