Life Expectancy Comparison

Life Expectancy in 2020 The life expectancies on the following pages were computed from various mortality tables that were built from different subsets of the U.S. population. Differences in life expectancies reflect differences in the mortality experience of each population subset. Life expectancies reflect the average experience of the population subset. About half of the people in the population subset are expected to live longer than life expectancy, and about half are not expected to survive to life expectancy. When planning for retirement, it is important to consider the likelihood of living beyond life expectancy. One page shows life expectancies for people who are age 65 in 2020. The other page shows life expectancies for people who are age 25 in 2020. Differences in life expectancy between the ages reflect two competing forces: 1. Some people who are age 25 now will not survive until age 65, which means that if future anticipated improvements in mortality are not projected, or built into the calculations, age 65 life expectancies are generally older than age 25 life expectancies. 2. Life expectancies for people currently age 25 reflect more years for anticipated future improvements in mortality experience, which are built into life expectancy calculations. Future improvements vary by age and by the number of years into the future. Combined with mortality experience that varies by age across populations, the result can be life expectancy at age 25 being either greater or less than life expectancy at age 65.

U.S. Population Individual Public Pension Plans 2017 Life Insurance Group Life 2017 SSA CDC Private Pension Plans Safety Employees General Employees Teachers (Issue Age 65) Insurance 89.9 90.2 Below- Above- Avg Pay Avg Pay 88.2 88.8 90.0 Below- Above- Female 90.1 89.6 Avg Pay Avg Pay 85.4 89.0 Non- Female 87.2 88.3 Smoke Female smoke Below- Above- 88.4 87.9 87.9 88.7 Avg Pay Avg Pay Female 87.9 White Top 25% 88.3 Collar Pay 87.6 87.6 Female 86.6 86.8 Male 87.3 87.3 87.6 88.7 86.4 Blue Bottom 87.2 88.4 Female 84.6 Non- Male Collar 25% Pay Below- Above- Male 86.3 85.4 Smoke smoke 86.7** Avg Pay Avg Pay 85.5* Male 85.6* Female 85.9 SSA 85.2 84.6 86.6 CDC Below- Above- 85.9 86.2 Male 84.7 Avg Pay Avg Pay 85.5** White Top 25% 84.5 87.0 85.2** 84.1* Male 84.4* Collar Pay Below- Above- SSA CDC 84.1 84.1 Avg Pay Avg Pay 83.9** Blue Bottom 83.0* Male 82.9* Collar 25% Pay CDC SSA

______Estimated from * Unprojected SOA 2016 ** Generationally projected to Group Life 2020 and beyond with MP- Insurance 2019 Experience CDC: Centers for Disease Report, Control and Prevention Period 2015 Individual Valuation generationally Life Tables, Table A Pri-2012 Mortality Tables Basic Table (VBT) projected to SSA: Social Security Exposure Draft generationally generationally projected to 2020 and Administration Period Life projected to 2020 and beyond Pub-2010 Mortality Tables generationally projected to 2020 2020 and beyond with 2015 beyond with Table with MP-2019 and beyond with MP-2019 VBT Improvement Scale MP-2019

U.S. Population Individual Public Pension Plans 2017 Life Insurance Group Life 2017 SSA CDC Private Pension Plans Safety Employees General Employees Teachers (Issue Age 25) Insurance 91.1 91.8 Below- Above- Avg Pay Avg Pay 88.4 90.0 91.5 Below- Above- Female 91.4 Avg Pay Avg Pay 88.0 89.5 Female Below- Above- 89.3 88.5 88.8 90.1 Avg Pay Avg Pay Female White Top 25% 89.3 Collar Pay 88.6 88.8 89.2 Female 87.3 86.7 87.5 87.2 Male 83.4 Non- 87.8 Female 87.4 Blue 87.9 89.7 Smoke smoke Female Bottom Male Collar 25% Pay Below- Above- 87.0 85.3 Avg Pay Avg Pay 86.2** Male 87.0 85.7 81.9* Female 81.8* 85.6 83.2 87.1 CDC SSA Below- Above- 86.7 88.0 85.6 86.2 Male 83.8 Avg Pay Avg Pay 83.1 Male Non- 83.6**85.5** White Top 25% 84.1 88.0 smoke Collar Male Pay Smoke 79.7* 79.4* Below- Above- CDC SSA 83.1 82.7 Avg Pay Avg Pay 81.3** Blue Bottom 77.4* Male 77.2* Collar 25% Pay CDC SSA ______* Unprojected Estimated from ** Generationally projected to SOA 2016 2020 and beyond with MP- Group Life 2019 Insurance CDC: Centers for Disease Experience Control and Prevention Period Report, Life Tables, Table A 2015 Individual Valuation generationally SSA: Social Security Pri-2012 Mortality Tables Basic Table (VBT) projected to Administration Period Life Exposure Draft generationally generationally projected to 2020 and Table projected to 2020 and beyond Pub-2010 Mortality Tables generationally projected to 2020 2020 and beyond with 2015 beyond with with MP-2019 and beyond with MP-2019 VBT Improvement Scale MP-2019

Copyright © 2020 Society of Actuaries 3 Probability in 2020 of Living to Age 100 65-Year-Old 25-Year-Old 0% 5% 10% 15% 20% 25% 0% 5% 10% 15% 20% 25% General SSA, unprojected 3.1% 2.8% Population SSA, projected 6.4% 13.5% All Data 8.2% 16.3% Private Blue Collar 7.4% 15.0% Pension White Collar 8.9% 17.3% Female Plans Lowest Paid 25% 8.2% 16.2% Highest Paid 25% 8.8% 17.3% Safety Employees 9.1% 17.8% Safety >Median Pay 10.1% 19.3% Public Safety Median Pay 10.2% 19.4% Plans General Median Pay 12.5% 22.7% Teachers

General SSA, unprojected 1.2% 1.0% Population SSA, projected 3.1% 7.8% All Data 4.0% 9.6% Private Blue Collar 3.6% 8.9% Pension White Collar 5.0% 11.3% Lowest Paid 25% 3.8% 9.1%

Plans Male Highest Paid 25% 5.3% 12.0% Safety Employees 4.2% 10.4% Safety >Median Pay 6.7% 14.5% 9.4% Public Safety Median Pay 6.1% 13.4% Plans General Median Pay 7.9% 16.4% Teachers

See pages 2 and 3 for further description of the mortality tables reflected above..

General SSA, unprojected 2.8% 2.8% Population SSA, projected 11.3% 9.3% All Data 13.8% 11.5% Private Blue Collar 12.6% 10.4% Pension White Collar 14.7% 12.3% Female Plans Lowest Paid 25% 13.7% 11.4% Highest Paid 25% 14.7% 12.3% Safety Employees 15.1% 12.7% Safety >Median Pay 16.5% 14.0% Safety Median Pay 16.7% 14.1% Plans General Median Pay 19.7% 17.0% Teachers Median Pay 12.1% 9.9% Safety Median Pay 11.1% 9.1% Plans General Median Pay 13.9% 11.6% Teachers

See pages 2 and 3 for further description of the mortality tables reflected above..

General SSA, unprojected 2.9% 3.6% Population SSA, projected 7.6% 5.7% All Data 9.5% 7.4% Private Blue Collar 8.6% 6.8% Pension White Collar 10.3% 8.0% Female Plans Lowest Paid 25% 9.5% 7.4% Highest Paid 25% 10.2% 7.9% Safety Employees 10.6% 8.3% Safety >Median Pay 11.8% 9.2% Safety Median Pay 11.9% 9.1% Plans General Median Pay 14.5% 11.1% Teachers Median Pay 8.1% 5.9% Safety Median Pay 7.4% 5.4% Plans General Median Pay 9.5% 6.8% Teachers

See pages 2 and 3 for further description of the mortality tables reflected above..

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