### Question
How is the "adjustment year" defined?


### Answer
The term **adjustment year** is defined in *26 U.S.C. § 7702* as follows -

> the calendar year following any calendar year that includes the effective date of a change in the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners' Standard Valuation Law)

#### Citation:
  - *26 U.S.C. § 7702*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 79-DEFINITIONS**

