Analysis of LRFD factors for a linear limit-state equation with correlated and time-independent random variables: Closed-Form formulation and numerical algorithm

•A general closed-form solution for load and resistance factors in a linear LRFD format is derived for correlated and time-independent normal random variables.•An efficient iteration procedure is proposed for cases with correlated nonnormal random variables•Four numerical examples are provided to demonstrate the feasibility of the proposed algorithm for LRFD calibrations and to illustrate interesting properties of load and resistance factors, safety factors and design point.•The fundamental advantage of the calibrated LRFD over the conventional, but calibrated ASD is explicitly revealed through the numerical example analysis.