Mortality Tables and Discount Rates

STATE OF HAWAI`I INSURANCE DIVISION DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS P. O. BOX 3614 HONOLULU, HAWAI`I 96811-3614 335 MERCHANT STREET, ROOM 213 HONOLULU, HAWAI`I 96813 PHONE NO: (808) 586-2790 FAX NO: (808) 586-2806 www.hawaii.gov/dcca/ins LINDA LINGLE GOVERNOR JAMES R. AIONA, JR. LT. GOVERNOR LAWRENCE M. REIFURTH DIRECTOR J. P. SCHMIDT INSURANCE COMMISSIONER November 2, 2009 MEMORANDUM 2009-2A To: All Nonprofit Educational Foundations or Nonprofit Organizations Issuing Charitable Gift Annuities FROM: J. P. Schmidt [signed] Insurance Commissioner RE: Mortality Tables and Discount Rates Hawaii Revised Statutes §431:1-204, Life Insurance Defined Pursuant to Hawai`i Revised Statutes (“HRS”) §431:1-204(c)(2), I am designating the contents of HRS §431:5-307, Standard Valuation Law; Life, and Hawai`i Administrative Rules Chapter Title16, Chapter 171, Miscellaneous Insurance Rules, Subchapter 5, Preferred Mortality Tables for Use in Determining Minimum Reserve Liabilities, as the mortality tables and discount rates to be used when determining compliance with this section. Please contact Paul Yuen, Supervising Attorney, at 808-586-2790 or at pyuen@dcca.hawaii.gov, if there are any questions on this matter.