Projected Unit Credit normal cost

Computes the actuarial present value of the portion of the projected benefit attributed to the current year of service.

Usage

NC_PUC_db(projected_benefit, total_service, v_to_ret, p_surv, adue_ret)

Arguments

projected_benefit

Nonnegative projected annual benefit at retirement.

total_service

Positive total service at retirement.

v_to_ret

Nonnegative discount factor from the valuation date to retirement.

p_surv

Survival or active-service probability to retirement in [0, 1].

adue_ret

Positive retirement annuity-due factor.

Value

A numeric vector.

Examples

NC_PUC_db(
  projected_benefit = 30000,
  total_service = 30,
  v_to_ret = 0.5,
  p_surv = 0.9,
  adue_ret = 12
)
#> [1] 5400