New
Multi-Year Projections
There is now a toggle to calculate multi-year projections and a column for the ‘Years to Capture Results’ on the Liability Calculation Controls table.
The “Multi-Year Projection” workbook can now be found in the Slope Pension & OPEB folder. This workbook includes the present value of Future Benefits, Accrued Liabilities, Service Costs, Expected Benefit Payment Streams, Future expected salary levels and future expected head counts.
Enhancements
Non-Compounding COLA for Active and Vested Terminated Payment Forms
The library now includes parameters on the “Benefit Definition – Payment Form” table to permit non-compounding Cost of Living Adjustments for payment forms for active and vested terminated benefit definitions.
Updated Compensation History Interface
A second new interface to define compensation history using a flat participant data file for all participant data that has been provided. This serves as an easier to use alternative to the old interface.
Modified Cash Refund Annuity for Active and Vested Terminated Records
The parameters for Modified Cash Refund Annuity forms of payment have been refined to allow more granular control for Active and Vested Terminated records.
Change
Update to the Projection Limit (time) Variable”
Projection Limit (time) will now stop the projection calculations at the later of the time the participant or his/her beneficiary achieves age 115. Previously, projection calculations were terminated at the earlier of the time the participant or spouse achieves age 115.
Other product variables impacted: “Age Beneficiary (Unrounded)”, “Age (Unrounded)”
New product variable: “Age Beneficiary (Unrounded) preliminary”
Fixes
- “Age Beneficiary Unrounded” logic has been corrected to avoid inconsistency in projections of beneficiary ages for a very specific configuration of retiree parameters.