New mortality tables released by the Society of Actuaries (SOA) in October are expected to increase the pension liabilities of U.S. businesses, giving companies an added incentive to unload some of those liabilities by offering lump sums to participants or buying a group annuity.
The good news from the Society of Actuaries is that Americans are living longer. The new tables, the first update since 2000, show that if Americans reach the age of 65, men are likely to live until age 86.6, two full years longer than the age shown in the previous SOA tables, and women to reach age 88.8, 2.4 years longer.
The actuarial group's report contains tables for blue- and white-collar workers, both male and female. The SOA also released an update to its mortality improvement scale.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
