The weighted average retirement age is available as an output item in Valuations, Core Projections, Valuation Sets and Deterministic Forecasts. The calculation is performed for active participants when funding results are run. A sample life report is available in Valuations and Core Projections to facilitate checking the calculation. There is a Valuation Set Exhibit summarizing the calculation for the entire active population.

Each active member’s contribution to the average’s numerator and denominator is:

Numerator:

Where:

x = current age (on the valuation date),

r = age at which probability of retirement or termination first becomes 100%,

p = probability of surviving all decrements,

q = probability of retirement.

Denominator:

 

Example -

Age	t	tpx	qx+t	Expected Retirements	Weighed Ages
52	0	1.0000	0	0	0
53	1	0.9952	0	0	0
54	2	0.9901	0	0	0
55	3	0.9845	0	0	0
56	4	0.9784	0.05	0.0489	2.7396
57	5	0.9230	0.05	0.0462	2.6306
58	6	0.8703	0.05	0.0435	2.5238
59	7	0.8201	0.05	0.0410	2.4192
60	8	0.7722	0.20	0.1544	9.2662
61	9	0.6107	0.20	0.1221	7.4502
62	10	0.4824	0.35	0.1688	10.4679
63	11	0.3082	0.25	0.077	4.8539
64	12	0.2273	0.25	0.0568	3.6371
65	13	0.1673	1.00	0.1673	10.8769
			Total	0.9260	56.8654
			Average		61.41