Or. Admin. R. 836-051-0240

Current through Register Vol. 63, No. 8, August 1, 2024

Section 836-051-0240 - Group Annuity or Pure Endowment Contracts

(1) Except as provided in sections (1) and (2) of this rule, the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the insurer, any one of these tables may be used for purposes of valuation for an annuity or pure endowment purchased on or after October 4, 1977, under a group annuity or pure endowment contract.

(2) Except as provided in section (3) of this rule, either the 1983 GAM Table or the 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 1998.

(3) The 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 2000, under a group annuity or pure endowment contract.

Or. Admin. R. 836-051-0240

ID 15-1997, f. & cert. ef. 10-29-97

The Table(s) referenced in this rule is not printed in the OAR Compilation. Copies are available from the agency.

Stat. Auth.: ORS 731.244, ORS 733.306 & ORS 743.215

Stats. Implemented: ORS 733.306