Does any one know how they classified the age basis in RP-2014? Age-last, exact age?
My question really is if I were using RP-2014 to value the expected future benefits of someone today that is age 62 and 3 months... would I assume the age 62 mortality rate for the next 9 months (assuming its an "exact" age table) and then go to 63, or is it an age last table, so I should use the age 62 rate for the next 12 months of my projection.
I've read through the SOAs description of how the table was constructed, but I couldn't find a reference to the method
tia
My question really is if I were using RP-2014 to value the expected future benefits of someone today that is age 62 and 3 months... would I assume the age 62 mortality rate for the next 9 months (assuming its an "exact" age table) and then go to 63, or is it an age last table, so I should use the age 62 rate for the next 12 months of my projection.
I've read through the SOAs description of how the table was constructed, but I couldn't find a reference to the method
tia
RP-2014 Age Basis