Parent table is: ASSETS
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Go to PENSIM input parameters overview
PENSIM: DACCHAR . id
Identifies deferred annuity contract characteristics specified on this row of table, so id value should be unique.
Valid values: 1 to 999999999, Integer
PENSIM: DACCHAR . notes
Describes specification of table row in free-form note.
Valid values: any ASCII text, Memo (Note: do not copy and paste from a word processor because of the possibility of embedded non-ASCII characters.)
PENSIM: DACCHAR . jas_b_pct
Specifies percent of joint annuity payment received by a surviving spouse when the joint-and-survivor annuity payment option is chosen at the time of claiming deferred annuity payments. It is assumed that all married people choose the joint-and-survivor annuity payment option and that all unmarried people choose a single-life annuity payment. Setting this input parameter to zero implies that all people (whether married or not) convert units into a single-life annuity that pays nothing to a surviving spouse.
Valid values: 0 to 100, Integer
PENSIM: DACCHAR . inf_index
Specifies whether or not annuity payments are indexed for inflation. Any inflation indexing begins with the first annuity payment, not when the deferred annuity contract is purchased.
Valid values: T (=1) or F (=0) (for true or false), Logical
PENSIM: DACCHAR . u70_u_frac
Specifies unit reduction per year for early claiming (before age seventy) of deferred annuity payments with this fraction determining the incremental reduction for claiming ages in the age range from 67 to 70. For example, the number of deferred annuity contract units would be reduced by 2*u70_u_frac if an individual started receiving deferred annuity payments at age 68 rather than waiting until age 70.
Valid values: 0.0 to 0.09, Real
PENSIM: DACCHAR . u67_u_frac
Specifies unit reduction per year for early claiming (before age seventy) of deferred annuity payments with this fraction determining the incremental reduction for claiming ages in the age range from 62 to 66. For example, the number of deferred annuity contract units would be reduced by ( 3*u70_u_frac + 2*u67_u_frac ) if an individual started receiving deferred annuity payments at age 65 rather than waiting until age 70.
Valid values: 0.0 to 0.09, Real
PENSIM: DACCHAR . u62_u_frac
Specifies unit reduction per year for early claiming (before age seventy) of deferred annuity payments with this fraction determining the incremental reduction for claiming ages in the age range from DAC.min_u_age to 61. For example, the number of deferred annuity contract units would be reduced by ( 3*u70_u_frac + 5*u67_u_frac + 2*u62_u_frac ) if an individual started receiving deferred annuity payments at age 60 rather than waiting until age 70. Valid values: 0.0 to 0.09, Real
PENSIM: DACCHAR . min_u_age
Specifies claim age below which no additional early claiming reductions are applied.
Valid values: 50 to 60, Integer
PENSIM: DACCHAR . jas_u_frac
Specifies the proportional unit reduction for claiming joint-and-survivor (rather than single-life) deferred annuity payments. This reduction is applied to the units remaining after any early-claiming reduction.
Valid values: 0.0 to 0.5, Real
PENSIM: DACCHAR . inf_u_frac
Specifies the proportional unit reduction for claiming inflation-indexed (rather than nominal) deferred annuity payments. This reduction is applied to the units remaining after any early-claiming and joint-and-survivor reductions.
Valid values: 0.0 to 0.5, Real
PENSIM: DACCHAR . load_pct
Specifies the percentage load on the deferred annuity contract unit price, which is computed at purchase using unisex pricing algorithm that uses current interest rates, mortality rates, and mortality decline rates as expectations of the future. The resulting multiplicative loading factor, which is applied to the unloaded price produced by the algorithm, is equal to 1+load_pct/100.
Valid values: -90.0 to 190.0, Real