The Internal Revenue Service (IRS) has cut the rate that should be used to determine the present value of an annuity steady.
The rate will be 3% in April, according to IRS Revenue Ruling 2011-10.
The rate is unchanged from 3% in March but down from 3.2% in April 2010.
The rate can also be used to determine an interest for life or a term of years, or a remainder or reversionary interest.
Other revenue ruling coverage from National Underwriter Life & Health:
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