; FAQ 2149: Lifetime Income - interest field is blank after update

FAQ 2149: Lifetime Income - interest field is blank after update

Problem:

Good morning,
I know that there is a website where I can go to get the lifetime income rates but I can't find it. Can you please remind me which site that is?

We have plans for whom we ran the lifetime income last year. I imported the new tables. I can see them in the records but they don't have an interest rate. I thought the new release was going to bring those rates in for us.



Solution:

The lifetime income rates can be found in the system, Main ASC menu-Access-Global Specifications-Federal Interest Rates (last column).

Here is the government site for the rates: Resource Center | U.S. Department of the Treasury 12/1/2022 = 3.53% for 10 Year
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202301


The system's annual update program will replace both Lifetime Income assumptions as long as the data exists. If the Interest rate is blank, this likely means that the system does not include the patch file with the 12/1/2022 rate. These rates are updated with patch files. If you need to fix the interest rates, you can still run the wizard to update plans with these items
https://csc.asc-net.com/csc/asc_client/download/User%20Documentation/LifetimeIncome_Interest_mortality_Updates.zip