Valuation mortality is configured in three layers: source mortality tables, reusable Valuation Mortality definitions, and Sponsor Assumption assignments for each participant or beneficiary state.
A System Mortality Table stores annual mortality rates, and a Mortality Projection Table stores mortality-improvement rates. A Valuation Mortality definition combines them before the result is assigned to a participant or beneficiary state in Sponsor Assumptions.
A Valuation Mortality definition combines the base table, age adjustment, and projection treatment separately for male and female lives. Base mortality and projection tables are stored in System Mortality Tables.
Mortality Table — Selects the base annual mortality rates separately for male and female lives. A configured table applies 100% mortality at age 120.
Age Setback (+) / Setforward (−) — Adjusts the age used to retrieve the base rate and apply projection. A positive value uses a younger mortality age; a negative value uses an older age.
Projection Table — Selects the mortality-improvement rates applied to the adjusted-age base rate.
Projection Type — Calculation year improves mortality to the calculation year; Fixed year improves to one selected year; Generational continues improvement through future years.
Blend Fraction — Male / Female — Weights male and female improvement-rate series for a supported blended projection table.
Funding and accounting results use their respective mortality assignments. Tax-Max and PBGC use the funding mortality assignments.
Pre-decrement — Mortality while an active participant remains exposed to retirement, termination, and disability. Participant detail shows both the raw mortality rate and the probability after decrement competition.
Terminated / Pre-payment start — Participant mortality after termination and before a deferred benefit begins.
Disabled / Pre-payment start and Post-payment start — Participant mortality before and after disability payments begin.
Retired (excluding disabled) / Post-payment start — Participant mortality after retirement payments begin. It can also supply beneficiary mortality while both lives are alive.
Survivor / Pre-payment start and Post-payment start — Beneficiary mortality after participant death, before and after survivor payments begin. If no separate pre-payment assignment is configured, the Terminated / Pre-payment start selection applies.
Lump Sum — Mortality for a life-contingent lump-sum stream when that payment form calls for the lump-sum mortality selection.
Pre-decrement — Inherits the active mortality assignment.
Constant — Uses one Valuation Mortality definition for the entire row. Constant describes the selection, not a level mortality rate.
Varies by Reported Amount — Selects mortality using the participant’s exact value for the chosen Sponsor Reported Amount.
Varies by years from valuation / year — Selects mortality using the greatest configured duration or calendar-year threshold not exceeding the projected year.
For survivors prior to participant death, use participant mortality rather than Survivor mortality — For a qualifying joint-and-survivor payment, uses Retired mortality at the beneficiary’s age and sex while both lives are alive. After participant death, the applicable Survivor mortality row is used.
The setting does not apply to a death-benefit component or a standalone-survivor stream.