SECTION 4.2702. Definitions

The following words and terms, when used in this subchapter, have the following meanings unless the context clearly indicates otherwise.

(1) 1983 GAM Table--Mortality table developed by the Society of Actuaries Committee on Annuities and adopted as a recognized mortality table for annuities in December 1983, by the National Association of Insurance Commissioners (NAIC).

(2) 1983 Table "a"--Mortality table developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation and adopted as a recognized mortality table for annuities in June 1982, by the NAIC.

(3) 1994 GAR Table--The 1994 Group Annuity Reserving Table developed by the Society of Actuaries Group Annuity Valuation Table Task Force and adopted as a recognized mortality table for annuities on December 16, 1996, by the NAIC.

(4) Annuity 2000 Mortality Table--Mortality table developed by the Society of Actuaries Committee on Life Insurance Research and adopted as a recognized mortality table for annuities on December 16, 1996, by the NAIC.

(5) Period Table--Table of mortality rates applicable to a given calendar year.

(6) Generational Mortality Table--Mortality table containing a set of mortality rates that decrease for a given age from one year to the next based on a combination of a Period Table and a projection scale containing rates of mortality improvement.

(7) 2012 IAR Table--Generational mortality table developed by the Society of Actuaries Committee on Life Insurance Research and containing rates, q_x ²⁰¹²⁺ⁿ , derived from a combination of the 2012 IAM Period Table and Projection Scale G2, using the methodology stated in §4.2706 of this title (relating to Application of the 2012 IAR Mortality Table).

(8) 2012 Individual Annuity Mortality Period Life (2012 IAM Period) Table--The Period Table containing loaded mortality rates for calendar year 2012. This table contains rates, q_x ²⁰¹² , developed by the Society of Actuaries Committee on Life Insurance Research.

(9) Projection Scale G2 (Scale G2)--Table of annual rates, G2_x , of mortality improvement by age for projecting future mortality rates beyond calendar year 2012. The Society of Actuaries Committee on Life Insurance Research developed this table.

Source Note: The provisions of this §4.2702 adopted to be effective October 8, 1985, 10 TexReg 3688; amended to be effective December 22, 1999, 24 TexReg 11393; amended to be effective March 4, 2014, 39 TexReg 1394; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127; amended to be effective January 24, 2024, 49 TexReg 250