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The basis of the assumptions for the reduced benefit actuarial adjustment factors
(1) for an early retirement benefit, before July 1, 1981 is a factor that reduces the normal retirement amount by 0.5 percent per month for each month that the retirement precedes the normal retirement age;
(2) on or after July 1, 1981 but before August 1, 1983, is a unisex factor set using a 50 percent to 50 percent blend of male and female rates from the 1971 Group Annuity Mortality Table, table GA71U, with an annual interest rate of 6.25 percent;
(3) on or after August 1, 1983, is for an early retirement benefit, a unisex factor set using a 50 percent to 50 percent blend of male and female rates from the 1971 Group Annuity Mortality Table, table GA7IU, with an annual interest rate of 8.30 percent.
History: Eff. 8/13/2005, Register 175
Authority: AS 22.25.025
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Last modified 7/05/2006