Md. Code Regs. 31.05.05.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 31.05.05.02 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "1983 GAM Tables" means the mortality tables:

(a) Developed by the Society of Actuaries Committee on Annuities;

(b) Adopted as a recognized mortality table for annuities in December 1983 by the National Association of Insurance Commissioners; and

(c) Set out in Regulation .03 of this chapter.

(2) "1983 Table \a' " means the mortality table:

(a) Developed by the Society of Actuaries Committee to Recommend a New Mortality Basis for Individual Annuity Valuation;

(b) Adopted as a recognized mortality table for annuities in June 1982 by the National Association of Insurance Commissioners; and

(c) Set out in COMAR 31.05.04.03A.

(3) "1994 GAR Table" means the mortality table:

(a) Developed by the Society of Actuaries Group Annuity Valuation Table Task Force; and

(b) Set out in Regulation .04 of this chapter.

Md. Code Regs. 31.05.05.02