I might be off, but I think this will work.
-- If the day and month are less than the current day and month, the real age
-- is one less than the difference of the years
DECLARE
@birthdate datetime,
@targetdate datetime,
@calc_age integer
SELECT
@birthdate = '1930-01-15',
@targetdate = '2001-01-15',
@calc_age = CONVERT(INT,DATEDIFF(yy, @birthdate, @targetdate))
SELECT
'Calculated Age' =
CASE
\tWHEN (day (@targetdate) >= day (@birthdate))
AND (month(@targetdate) >= month(@birthdate))
\t\tTHEN @calc_age
\t\tELSE @calc_age - 1
END