| Previous Valuation as of 09/30/03 | Current Valuation as of 9/30/04 | |
|---|---|---|
| Interest Factors | Select & Ultimate: 4.4% for 20 years, 4.5 % thereafter |
Select & Ultimate: 4.8% for 25 years, 5.0% thereafter |
| Mortality - Healthy Lives | 1994 Group Annuity Mortality Static Table (with margins), set forward two years, projected 18 years to 2012 using Scale AA | 1994 Group Annuity Mortality Static Table (with margins), set forward one year, projected 20 years to 2014 using Scale AA |
| Mortality - Disabled Lives Not Receiving Social Security | Healthy Lives Table set forward 3 years | Healthy Lives Table set forward 7 years |
| Mortality - Disabled Lives Receiving Social Security | Social Security disability table as described in subpart B of PBGC regulations on Allocation of Assets in Single-Employer Plans for persons up to age 64, adjusted to parallel the table for disabled lives not receiving Social Security benefits for ages above 64. | Healthy Lives Table set forward 7 years |
| SPARR | Calculated SPARR for fiscal years for which it has been calculated. The most recent calculated SPARR is assumed for years for which the calculation is not yet completed (FY 2001= 4.94%). | Calculated SPARR for fiscal years for which it has been calculated. The most recent calculated SPARR is assumed for years for which the calculation is not yet completed (most recent SPARR: FY 2002= 9.60%). See Table 2B for values. |
| Retirement Ages | (a) Earliest possible for shutdown companies, (b) Expected retirement age (XRA) tables from 29 CFR 4044 for ongoing companies, (c) Participants past XRA are assumed to be in pay status, (d) Unlocated participants past normal retirement age (NRA) are phased out over 3 years to reflect lower likelihood of payment. | Same |
| Expenses | All terminated plans and single-employer probable terminations: 1.18% of the liability for benefits plus additional reserves as shown in Table 2C for cases where plan asset determinations, participant database audits and actuarial valuations were not complete. | Same |
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