Excel Custom Functions for PPA Annuity Factors

[Guest Doug Goelz]

Attached is an update to the Excel add-in that I created and posted last year. The updated add-in now contains 52 mortality tables. These tables are documented in the attached PDF file.

The attached PDF file gives a short overview of installing and using the custom functions contained in the add-in. These functions have been in use by a good number of different users now for well over a year, and I have not received any negative comments about the ease of their use or the results they generate.

Since over the course of the past year I have had numerous people asking me for the full version of the add-in, I decided to just post the full version on this site and rely on the honor system to get paid by those that choose to use it. Although unconventional (and perhaps stupid), this approach will save me the time from having to respond to individual requests.

Also since last year, I noticed a similar add-in at the following link:

http://www.armontech.com/XLActuary_.html

Obviously, this company put more time and resources into presenting its product in a much more professional manner. This product also does some things that my add-in currently does not. However, if your main use of these add-ins is to simply calculate present values, the key difference between this company's product and mine is the way fractional ages are handled. Armon Technologies, LLC's add-in uses linear interpolation of factors based on integral values, whereas mine uses "first principles" and a Uniform Distribution of Deaths (UDD) approach. The other key difference is cost. Armon Technologies, LLC uses a per-computer annual fee arrangement, and I just use a one-time fee for up to five different users on unlimited machines.

For those that would like to evaluate my add-in:

o Download the attached file named "PENPROG Functions.xls" to a directory called "C:\PENPROG"

o Rename the downloaded file's extension from "xls" to "xll" -- That is, the add-in should be called "PENPROG Functions.xll," but I could not upload a file with that type of extension to this site.

o Follow the instructions in the attached PDF overview file to "install" the add-in into Excel's directory of add-ins

o Experiment using the add-in's functions by reviewing the sample applications Excel file that is also attached

After evaluating the add-in, if you would like to use it in a professional manner, please return a signed copy of the attached license agreement along with a check to my attention at:

Doug Goelz

The Phoenix Benefits Group, Inc.

4232 Brownsville Road, Suite 137

Pittsburgh, PA 15227

phone: 412-881-3435

e-mail: doug.goelz@phoenix-benefits.com

Important Disclaimer1: Before using the add-in to calculate results for a professional purpose, be sure to first review and agree to the terms of the attached software license.

Important Disclaimer2: The add-in and sample application Excel file are being distributed “as is” and with no warranties of any kind, whether express or implied. The user assumes the entire risk of using these files and the validity of the values generated by them. In addition, in no event shall I or my employer be liable for any incidental, consequential, or punitive damages whatsoever relating to the use of the files. Your use or installation of the files indicates your acceptance of these terms. If you do not agree to these terms, then do not install or use the files.

Thanks and if anybody has any suggestions for improving the tool, please let me know.

PENPROG_Functions___Sample_Applications.xls

PENPROG_Functions_Overview.pdf

PENPROG_Functions.xls

PENPROG_Functions_Software_License.pdf