The Current Ages topic sets the ages for which to generate annuity (present value) factors and/or conversion factors. Indicate either Age ranges (including a combination of age ranges for the plan member and the member’s spouse or beneficiary if any factors involve joint life annuities), or Specific ages / age combinations for the plan member, and for the spouse or beneficiary if joint life annuities are involved

If you select Age ranges, ProAdmin will generate factors for a range of ages entered for the Primary Annuitant (the plan member), and reflecting, for each Primary Annuitant age, a range of ages entered for the Contingent Annuitant (the member’s spouse or beneficiary, presumed to be of opposite sex) if joint life factors are to be generated. For each annuitant, in the box to the right of From, enter the first age for which you wish to generate a factor and, in the box to the right of To, enter the last age for which you wish to generate a factor. You may enter only whole numbers (for example, 55, not 55.5).

Alternatively, if factors are to be generated for joint life annuities, you may define the Contingent Annuitant age range by selecting the Age differences up to option and entering, in the text field, the largest age difference between the primary and contingent annuitants (member and spouse / beneficiary), n, to consider. ProAdmin will generate factors for 2n+1 sets of age differences (-n…, -1, 0, 1…, n). Note that you specify the fixed range as a positive number; ProAdmin will generate factors for a contingent annuitant up to n years older and up to n years younger than the primary annuitant.

Check the Include monthly ages box to indicate that you want ProAdmin to calculate factors for (besides integral ages) all "fractional ages" of the primary and contingent annuitants, that is, ages in years and months in between the integral ages. For example, if the Primary Annuitant (member) age range is 55 to 70 and the Contingent Annuitant (spouse, or beneficiary of opposite sex) age range is 50 to 75, ProAdmin will generate factors at age 55, at age 55 and 1 month, at age 55 and 2 months, etc., for the primary annuitant, up to and including age 70. For each of these primary annuitant ages, ProAdmin will also generate factors at contingent annuitant ages 50, 50 and 1 month, etc., up to and including age 75. The factors generated at months in between the integral ages are linearly interpolated between the factors at integer ages.

If you select Specific ages / age combinations, ProAdmin will generate factors for (only) the ages you enter in the grid, in years and months, for the Primary Annuitant, and reflecting the ages you enter (also in years and months) for the Contingent Annuitant if joint life factors are to be generated. For example, to generate life annuity factors for a Primary Annuitant who is age 55.5, enter 55 in the years column and 6 in the months column. To also generate joint life annuity factors for a married primary annuitant of the same age with a spouse age 52.25, enter in the Contingent Annuitant columns 52 for the years and 3 for the months. The factors generated at months in-between the integral ages are linearly interpolated between the factors at integer ages.

Click the OK button to save the the selection or the Cancel button to ignore any changes.