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Practitioners

Interest Rates for Determining Lump Sums

The immediate and deferred interest rates are used to determine the amount of lump-sum benefits paid by PBGC under plans that PBGC trustees. (Some other plans use these rates to determine and pay lump-sum benefits.)

2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993

2014

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-14

2-1-14

1.75 4.00 4.00 4.00 7 8

2-1-14

3-1-14

1.75 4.00 4.00 4.00 7 8

3-1-14

4-1-14

1.50 4.00 4.00 4.00 7 8

4-1-14

5-1-14

1.50 4.00 4.00 4.00 7 8

5-1-14

6-1-14

1.50 4.00 4.00 4.00 7 8

6-1-14

7-1-14

1.25 4.00 4.00 4.00 7 8

7-1-14

8-1-14

1.25 4.00 4.00 4.00 7 8

8-1-14

9-1-14

1.25 4.00 4.00 4.00 7 8

9-1-14

10-1-14

1.25 4.00 4.00 4.00 7 8

10-1-14

11-1-14

1.00 4.00  4.00  4.00 

11-1-14

12-1-14

1.25 4.00 4.00  4.00 7 8

12-1-14

1-1-15

   

^ Top

2013

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-13

2-1-13

0.75 4.00 4.00 4.00 7 8

2-1-13

3-1-13

0.75 4.00 4.00 4.00 7 8

3-1-13

4-1-13

1.00 4.00 4.00 4.00 7 8

4-1-13

5-1-13

1.00 4.00 4.00 4.00 7 8

5-1-13

6-1-13

1.00 4.00 4.00 4.00 7 8

6-1-13

7-1-13

0.75 4.00 4.00 4.00 7 8

7-1-13

8-1-13

1.25 4.00 4.00 4.00 7 8

8-1-13

9-1-13

1.75 4.00 4.00 4.00 7 8

9-1-13

10-1-13

1.50 4.00 4.00 4.00 7 8

10-1-13

11-1-13

1.75 4.00 4.00 4.00 7 8

11-1-13

12-1-13

1.75 4.00 4.00 4.00 7 8

12-1-13

1-1-14

1.75 4.00 4.00 4.00 7 8

^ Top

2012

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-12

2-1-12

1.25 4.00 4.00 4.00 7 8

2-1-12

3-1-12

1.25 4.00 4.00 4.00 7 8

3-1-12

4-1-12

1.25 4.00 4.00 4.00 7 8

4-1-12

5-1-12

1.25 4.00 4.00 4.00 7 8

5-1-12

6-1-12

1.50 4.00 4.00 4.00 7 8

6-1-12

7-1-12

1.25 4.00 4.00 4.00 7 8

7-1-12

8-1-12

1.00 4.00 4.00 4.00 7 8

8-1-12

9-1-12

1.00 4.00 4.00 4.00 7 8

9-1-12

10-1-12

0.75 4.00 4.00 4.00 7 8

10-1-12

11-1-12

0.75 4.00 4.00 4.00 7 8

11-1-12

12-1-12

0.75 4.00 4.00 4.00 7 8

12-1-12

1-1-13

0.75 4.00 4.00 4.00 7 8

^ Top

2011

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-11

2-1-11

2.25 4.00 4.00 4.00 7 8

2-1-11

3-1-11

2.50 4.00 4.00 4.00 7 8

3-1-11

4-1-11

2.50 4.00 4.00 4.00 7 8

4-1-11

5-1-11

2.50 4.00 4.00 4.00 7 8

5-1-11

6-1-11

2.50 4.00 4.00 4.00 7 8

6-1-11

7-1-11

2.50 4.00 4.00 4.00 7 8

7-1-11

8-1-11

2.25 4.00 4.00 4.00 7 8

8-1-11

9-1-11

2.25 4.00 4.00 4.00 7 8

9-1-11

10-1-11

2.25 4.00 4.00 4.00 7 8

10-1-11

11-1-11

1.75 4.00 4.00 4.00 7 8

11-1-11

12-1-11

1.50 4.00 4.00 4.00 7 8

12-1-11

1-1-12

1.50 4.00 4.00 4.00 7 8

^ Top

2010

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-10

2-1-10

2.50 4.00 4.00 4.00 7 8

2-1-10

3-1-10

2.75 4.00 4.00 4.00 7 8

3-1-10

4-1-10

2.75 4.00 4.00 4.00 7 8

4-1-10

5-1-10

2.75 4.00 4.00 4.00 7 8

5-1-10

6-1-10

3.00 4.00 4.00 4.00 7 8

6-1-10

7-1-10

2.75 4.00 4.00 4.00 7 8

7-1-10

8-1-10

2.50 4.00 4.00 4.00 7 8

8-1-10

9-1-10

2.25 4.00 4.00 4.00 7 8

9-1-10

10-1-10

2.25 4.00 4.00 4.00 7 8

10-1-10

11-1-10

1.75 4.00 4.00 4.00 7 8

11-1-10

12-1-10

1.75 4.00 4.00 4.00 7 8

12-1-10

1-1-11

2.25 4.00 4.00 4.00 7 8

^ Top

2009

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-09

2-1-09

4.00

4.00

4.00

4.00

7

8

2-1-09

3-1-09

3.00

4.00

4.00

4.00

7

8

3-1-09

4-1-09

3.50

4.00

4.00

4.00

7

8

4-1-09

5-1-09

3.25

4.00

4.00

4.00

7

8

5-1-09

6-1-09

3.50

4.00

4.00

4.00

7

8

6-1-09

7-1-09

3.75

4.00

4.00

4.00

7

8

7-1-09

8-1-09

3.75

4.00

4.00

4.00

7

8

8-1-09

9-1-09

3.00

4.00

4.00

4.00

7

8

9-1-09

10-1-09

3.00

4.00

4.00

4.00

7

8

10-1-09

11-1-09

2.50

4.00

4.00

4.00

7

8

11-1-09

12-1-09

2.25

4.00

4.00

4.00

7

8

12-1-09

1-1-10

2.50

4.00

4.00

4.00

7

8

^ Top

2008

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-08

2-1-08

3.00

4.00

4.00

4.00

7

8

2-1-08

3-1-08

3.25

4.00

4.00

4.00

7

8

3-1-08

4-1-08

3.00

4.00

4.00

4.00

7

8

4-1-08

5-1-08

3.25

4.00

4.00

4.00

7

8

5-1-08

6-1-08

3.25

4.00

4.00

4.00

7

8

6-1-08

7-1-08

3.25

4.00

4.00

4.00

7

8

7-1-08

8-1-08

3.50

4.00

4.00

4.00

7

8

8-1-08

9-1-08

3.25

4.00

4.00

4.00

7

8

9-1-08

10-1-08

3.50

4.00

4.00

4.00

7

8

10-1-08

11-1-08

3.25

4.00

4.00

4.00

7

8

11-1-08

12-1-08

3.75

4.00

4.00

4.00

7

8

12-1-08

1-1-09

4.75

4.00

4.00

4.00

7

8

^ Top

2007

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-07

2-1-07

2.75

4.00

4.00

4.00

7

8

2-1-07

3-1-07

3.00

4.00

4.00

4.00

7

8

3-1-07

4-1-07

3.00

4.00

4.00

4.00

7

8

4-1-07

5-1-07

2.75

4.00

4.00

4.00

7

8

5-1-07

6-1-07

3.00

4.00

4.00

4.00

7

8

6-1-07

7-1-07

3.00

4.00

4.00

4.00

7

8

7-1-07

8-1-07

3.25

4.00

4.00

4.00

7

8

8-1-07

9-1-07

3.50

4.00

4.00

4.00

7

8

9-1-07

10-1-07

3.25

4.00

4.00

4.00

7

8

10-1-07

11-1-07

3.25

4.00

4.00

4.00

7

8

11-1-07

12-1-07

3.25

4.00

4.00

4.00

7

8

12-1-07

1-1-08

3.00

4.00

4.00

4.00

7

8

^ Top

2006

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-06

2-1-06

2.75

4.00

4.00

4.00

7

8

2-1-06

3-1-06

2.75

4.00

4.00

4.00

7

8

3-1-06

4-1-06

2.75

4.00

4.00

4.00

7

8

4-1-06

5-1-06

2.75

4.00

4.00

4.00

7

8

5-1-06

6-1-06

3.00

4.00

4.00

4.00

7

8

6-1-06

7-1-06

3.25

4.00

4.00

4.00

7

8

7-1-06

8-1-06

3.50

4.00

4.00

4.00

7

8

8-1-06

9-1-06

3.50

4.00

4.00

4.00

7

8

9-1-06

10-1-06

3.25

4.00

4.00

4.00

7

8

10-1-06

11-1-06

3.00

4.00

4.00

4.00

7

8

11-1-06

12-1-06

2.75

4.00

4.00

4.00

7

8

12-1-06

1-1-07

3.00

4.00

4.00

4.00

7

8

^ Top

2005

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-05

2-1-05

3.00

4.00

4.00

4.00

7

8

2-1-05

3-1-05

3.00

4.00

4.00

4.00

7

8

3-1-05

4-1-05

2.75

4.00

4.00

4.00

7

8

4-1-05

5-1-05

2.75

4.00

4.00

4.00

7

8

5-1-05

6-1-05

2.75

4.00

4.00

4.00

7

8

6-1-05

7-1-05

2.50

4.00

4.00

4.00

7

8

7-1-05

8-1-05

2.50

4.00

4.00

4.00

7

8

8-1-05

9-1-05

2.25

4.00

4.00

4.00

7

8

9-1-05

10-1-05

2.50

4.00

4.00

4.00

7

8

10-1-05

11-1-05

2.25

4.00

4.00

4.00

7

8

11-1-05

12-1-05

2.50

4.00

4.00

4.00

7

8

12-1-05

1-1-06

2.75

4.00

4.00

4.00

7

8

^ Top

2004

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-04

2-1-04

3.25

4.00

4.00

4.00

7

8

2-1-04

3-1-04

3.25

4.00

4.00

4.00

7

8

3-1-04

4-1-04

3.00

4.00

4.00

4.00

7

8

4-1-04

5-1-04

3.00

4.00

4.00

4.00

7

8

5-1-04

6-1-04

3.00

4.00

4.00

4.00

7

8

6-1-04

7-1-04

3.50

4.00

4.00

4.00

7

8

7-1-04

8-1-04

3.50

4.00

4.00

4.00

7

8

8-1-04

9-1-04

3.50

4.00

4.00

4.00

7

8

9-1-04

10-1-04

3.25

4.00

4.00

4.00

7

8

10-1-04

11-1-04

3.00

4.00

4.00

4.00

7

8

11-1-04

12-1-04

2.75

4.00

4.00

4.00

7

8

12-1-04

1-1-05

2.75

4.00

4.00

4.00

7

8

^ Top

2003

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-03

2-1-03

4.00

4.00

4.00

4.00

7

8

2-1-03

3-1-03

3.75

4.00

4.00

4.00

7

8

3-1-03

4-1-03

3.75

4.00

4.00

4.00

7

8

4-1-03

5-1-03

3.50

4.00

4.00

4.00

7

8

5-1-03

6-1-03

3.50

4.00

4.00

4.00

7

8

6-1-03

7-1-03

3.50

4.00

4.00

4.00

7

8

7-1-03

8-1-03

3.00

4.00

4.00

4.00

7

8

8-1-03

9-1-03

3.00

4.00

4.00

4.00

7

8

9-1-03

10-1-03

3.50

4.00

4.00

4.00

7

8

10-1-03

11-1-03

3.50

4.00

4.00

4.00

7

8

11-1-03

12-1-03

3.25

4.00

4.00

4.00

7

8

12-1-03

1-1-04

3.25

4.00

4.00

4.00

7

8

^ Top

2002

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-02

2-1-02

4.50

4.00

4.00

4.00

7

8

2-1-02

3-1-02

4.75

4.00

4.00

4.00

7

8

3-1-02

4-1-02

4.50

4.00

4.00

4.00

7

8

4-1-02

5-1-02

4.25

4.00

4.00

4.00

7

8

5-1-02

6-1-02

4.75

4.00

4.00

4.00

7

8

6-1-02

7-1-02

4.50

4.00

4.00

4.00

7

8

7-1-02

8-1-02

4.50

4.00

4.00

4.00

7

8

8-1-02

9-1-02

4.25

4.00

4.00

4.00

7

8

9-1-02

10-1-02

4.25

4.00

4.00

4.00

7

8

10-1-02

11-1-02

4.00

4.00

4.00

4.00

7

8

11-1-02

12-1-02

3.75

4.00

4.00

4.00

7

8

12-1-02

1-1-03

4.00

4.00

4.00

4.00

7

8

^ Top

2001

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-01

2-1-01

5.00

4.25

4.00

4.00

7

8

2-1-01

3-1-01

4.75

4.00

4.00

4.00

7

8

3-1-01

4-1-01

4.75

4.00

4.00

4.00

7

8

4-1-01

5-1-01

4.75

4.00

4.00

4.00

7

8

5-1-01

6-1-01

4.75

4.00

4.00

4.00

7

8

6-1-01

7-1-01

5.00

4.25

4.00

4.00

7

8

7-1-01

8-1-01

5.00

4.25

4.00

4.00

7

8

8-1-01

9-1-01

4.75

4.00

4.00

4.00

7

8

9-1-01

10-1-01

4.50

4.00

4.00

4.00

7

8

10-1-01

11-1-01

4.50

4.00

4.00

4.00

7

8

11-1-01

12-1-01

4.75

4.00

4.00

4.00

7

8

12-1-01

1-1-02

4.50

4.00

4.00

4.00

7

8

^ Top

2000

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-00

2-1-00

5.00

4.25

4.00

4.00

7

8

2-1-00

3-1-00

5.25

4.50

4.00

4.00

7

8

3-1-00

4-1-00

5.25

4.50

4.00

4.00

7

8

4-1-00

5-1-00

5.25

4.50

4.00

4.00

7

8

5-1-00

6-1-00

5.25

4.50

4.00

4.00

7

8

6-1-00

7-1-00

5.25

4.50

4.00

4.00

7

8

7-1-00

8-1-00

5.50

4.75

4.00

4.00

7

8

8-1-00

9-1-00

5.25

4.50

4.00

4.00

7

8

9-1-00

10-1-00

5.25

4.50

4.00

4.00

7

8

10-1-00

11-1-00

5.00

4.25

4.00

4.00

7

8

11-1-00

12-1-00

5.25

4.50

4.00

4.00

7

8

12-1-00

1-1-01

5.25

4.50

4.00

4.00

7

8

^ Top

1999

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-99

2-1-99

4.00

4.00

4.00

4.00

7

8

2-1-99

3-1-99

4.00

4.00

4.00

4.00

7

8

3-1-99

4-1-99

4.00

4.00

4.00

4.00

7

8

4-1-99

5-1-99

4.25

4.00

4.00

4.00

7

8

5-1-99

6-1-99

4.25

4.00

4.00

4.00

7

8

6-1-99

7-1-99

4.25

4.00

4.00

4.00

7

8

7-1-99

8-1-99

4.50

4.00

4.00

4.00

7

8

8-1-99

9-1-99

5.00

4.25

4.00

4.00

7

8

9-1-99

10-1-99

5.00

4.25

4.00

4.00

7

8

10-1-99

11-1-99

5.00

4.25

4.00

4.00

7

8

11-1-99

12-1-99

5.00

4.25

4.00

4.00

7

8

12-1-99

1-1-00

5.25

4.50

4.00

4.00

7

8

^ Top

1998

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-98

2-1-98

4.25

4.00

4.00

4.00

7

8

2-1-98

3-1-98

4.25

4.00

4.00

4.00

7

8

3-1-98

4-1-98

4.25

4.00

4.00

4.00

7

8

4-1-98

5-1-98

4.25

4.00

4.00

4.00

7

8

5-1-98

6-1-98

4.25

4.00

4.00

4.00

7

8

6-1-98

7-1-98

4.25

4.00

4.00

4.00

7

8

7-1-98

8-1-98

4.00

4.00

4.00

4.00

7

8

8-1-98

9-1-98

4.00

4.00

4.00

4.00

7

8

9-1-98

10-1-98

4.00

4.00

4.00

4.00

7

8

10-1-98

11-1-98

4.00

4.00

4.00

4.00

7

8

11-1-98

12-1-98

3.75

4.00

4.00

4.00

7

8

12-1-98

1-1-99

4.00

4.00

4.00

4.00

7

8

^ Top

1997

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-97

2-1-97

4.50

4.00

4.00

4.00

7

8

2-1-97

3-1-97

4.75

4.00

4.00

4.00

7

8

3-1-97

4-1-97

5.00

4.25

4.00

4.00

7

8

4-1-97

5-1-97

4.75

4.00

4.00

4.00

7

8

5-1-97

6-1-97

5.00

4.25

4.00

4.00

7

8

6-1-97

7-1-97

5.25

4.50

4.00

4.00

7

8

7-1-97

8-1-97

5.25

4.50

4.00

4.00

7

8

8-1-97

9-1-97

4.75

4.00

4.00

4.00

7

8

9-1-97

10-1-97

4.50

4.00

4.00

4.00

7

8

10-1-97

11-1-97

4.75

4.00

4.00

4.00

7

8

11-1-97

12-1-97

4.50

4.00

4.00

4.00

7

8

12-1-97

1-1-98

4.50

4.00

4.00

4.00

7

8

^ Top

1996

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-96

2-1-96

4.50

4.00

4.00

4.00

7

8

2-1-96

3-1-96

4.25

4.00

4.00

4.00

7

8

3-1-96

4-1-96

4.25

4.00

4.00

4.00

7

8

4-1-96

5-1-96

4.75

4.00

4.00

4.00

7

8

5-1-96

6-1-96

5.00

4.25

4.00

4.00

7

8

6-1-96

7-1-96

5.00

4.25

4.00

4.00

7

8

7-1-96

8-1-96

5.00

4.25

4.00

4.00

7

8

8-1-96

9-1-96

5.25

4.50

4.00

4.00

7

8

9-1-96

10-1-96

5.25

4.50

4.00

4.00

7

8

10-1-96

11-1-96

5.25

4.50

4.00

4.00

7

8

11-1-96

12-1-96

5.00

4.25

4.00

4.00

7

8

12-1-96

1-1-97

4.75

4.00

4.00

4.00

7

8

^ Top

1995

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-95

2-1-95

6.00

5.25

4.00

4.00

7

8

2-1-95

3-1-95

6.00

5.25

4.00

4.00

7

8

3-1-95

4-1-95

6.00

5.25

4.00

4.00

7

8

4-1-95

5-1-95

5.75

5.00

4.00

4.00

7

8

5-1-95

6-1-95

5.50

4.75

4.00

4.00

7

8

6-1-95

7-1-95

5.50

4.75

4.00

4.00

7

8

7-1-95

8-1-95

4.75

4.00

4.00

4.00

7

8

8-1-95

9-1-95

4.75

4.00

4.00

4.00

7

8

9-1-95

10-1-95

5.00

4.25

4.00

4.00

7

8

10-1-95

11-1-95

4.75

4.00

4.00

4.00

7

8

11-1-95

12-1-95

4.75

4.00

4.00

4.00

7

8

12-1-95

1-1-96

4.50

4.00

4.00

4.00

7

8

^ Top

1994

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

1-1-94

2-1-94

4.50

4.00

4.00

4.00

7

8

2-1-94

3-1-94

4.50

4.00

4.00

4.00

7

8

3-1-94

4-1-94

4.50

4.00

4.00

4.00

7

8

4-1-94

5-1-94

4.75

4.00

4.00

4.00

7

8

5-1-94

6-1-94

5.25

4.50

4.00

4.00

7

8

6-1-94

7-1-94

5.25

4.50

4.00

4.00

7

8

7-1-94

8-1-94

5.50

4.75

4.00

4.00

7

8

8-1-94

9-1-94

5.75

5.00

4.00

4.00

7

8

9-1-94

10-1-94

5.50

4.75

4.00

4.00

7

8

10-1-94

11-1-94

5.50

4.75

4.00

4.00

7

8

11-1-94

12-1-94

6.00

5.25

4.00

4.00

7

8

12-1-94

1-1-95

6.25

5.50

4.25

4.00

7

8

^ Top

1993

Valuation Date

Immediate

Deferred Annuities

On or After

Before

Rate

i1

i2

i3

n1

n2

11-1-93

12-1-93

4.25

4.00

4.00

4.00

7

8

12-1-93

1-1-94

4.25

4.00

4.00

4.00

7

8

^ Top