Expected benefit payments (EB) calculated in a Valuation or Core Projection represent the expected cash payments during the year. These values are used in a Valuation Set or Deterministic Forecast without adjustment and are assumed payable in the middle of the year.
Actives
For each active benefit, k, the expected benefit payments, 
, are a function of the probability of decrement, 
, the
that is payable upon decrement, inactive mortality 
for the year beginning on the valuation date, the number of payments per year, m (in OPEB mode, m = 1) and the payment form. Consider the following examples.
Life annuity 
Annuity certain 
Life insurance 
Lump sum 
Modified cash refund 
Under a middle of year decrement assumption, expected benefit payments use average benefits, a half-year’s benefit payments and a half-year’s mortality (except for in the timing adjustment). That is, in the equations above, ProVal uses 
in place of 
and:
in the pension modes: 
in place of 
,
in OPEB mode: 
in place of
,
for lump sums (in pension and OPEB modes): 
in place of .
Inactives
Inactive expected benefit payments, 
, are a function of the 
in force, inactive mortality
for the year beginning on the valuation date, the number of payments per year, m (in OPEB mode, m = 1) and the payment form. Consider the following examples.
Life annuity 
Annuity certain 
Life insurance 
Lump sum 
Modified cash refund 