This release introduces beta versions of two new products: a Variable Annuity product (includes RILA support) and a combined Fixed/Indexed Annuity product. Additionally, updates include updated Life & Annuity US Stat/Tax Interest Rates, clean up and fixes to asset product calculations, and more.

Variable Annuity product beta release

A new product within the Life Library has been released under beta status which covers Variable Annuities and Registered Indexed Linked Annuities (RILAs). This product offers the following:

• Tracking of multiple investment accounts and tracking of individual deposits within each investment account
• Support for GMAB, GMDB and GMWB/GLWB riders
• Deposit level cashflows and guarantees
• Fixed account components
• Deposit specific assumptions and parameters (e.g. partial withdrawal rates, market value adjustments, and surrender charges)
• Tracking of potential GMWB election dates through the projection, including the use of different lapse rate assumptions for each potential election path

Note that the beta status means features have not yet been fully tested and the models may produce erroneous results in some instances. If you find any issues, please report them to us at support@slopesoftware.com

Combined Fixed/Indexed Annuity product beta release

A new product within the Life Library has been released under beta status which covers a combined product for all Fixed and Indexed annuities. This product is intended to replace the Fixed Annuity and Indexed Annuity products currently in our library. The two legacy products will be sunset sometime (timeframe TBD) after the combined Fixed/Indexed Annuity product is moved out of beta status.

This combined Fixed/Indexed Annuity products offers many new features, including:

• Easier management of policies with both fixed and indexed components
• Support for GMAB, GMDB and GMWB/GLWB riders
• Deposit level tracking of cashflows and guarantees
• Deposit specific assumptions and parameters (e.g. partial withdrawal rates, market value adjustments, and surrender charges)
• Tracking of potential GMWB election dates through the projection, including the use of different lapse rate assumptions for each potential election path

Like with the Variable Annuity product, this product is in beta status. If you find any issues, please report them to us at support@slopesoftware.com.

New Workbook

A new workbook has been created to analyze results from the Fixed/Indexed Annuity product. It covers the following:

• Single policy projected cash flows and policy counts
• Projected account value rollforward
• Projected account value for each investment account and deposit
• GMWB details including projected GMWB elections and details for each projected election date
• US STAT CARVM reserve details for AG33 and AG35, including inner loop calculations for each timestep of the projection
• US GAAP ASC 815 (formerly FAS 133) details

Asset Clean Up

Fixes

• Updated Realized Book Value used in the Realized Gain/Loss for Non-Callable bonds to default to Book Value instead of US STAT reported value to resolve errors that occur when US STAT results are not calculated.
• Resolved inconsistencies with Default Rate Annual and Default Rate Monthly formulas across asset products by setting their properties to:
  • Output = True
  • Always Calculate = False
• Fixed Initial Asset Scaling variables in 4 asset products (Asset Backed Security, Collateralized Loan Obligation, Mortgage Backed Security, Stock Option):
  • Set the variable to equal 1 (i.e. do not scale) for reinvestment assets
  • Set Model Point Aggregation Method to None (from First Value) to prevent unnecessary aggregation of this variable
• Corrected the Default Rate Monthly in the Collateralized Loan Obligation product to properly reflect a conversion from an annual to monthly default rate
• Removed outdated and irrelevant references in the documentation for Default Rate Annual and Monthly variables that have not applied for quite some time.

Changes

• Replaced references in the asset products to the product instance name system variable with a new Product Definition Name variable to resolve errors that occur when the product instance name is modified on a projection. This new variable references a new Asset Product Definition Names array whose values correspond to product definition names in the Slope Life Library. 
• Updated Initial Asset Scaling formulas to reference new Asset Product Definition Names array and to be consistent across all asset products
• Added more flexibility to management of Default Rate assumptions such that you can now specify separate default tables for each asset product rather than use a single table with an asset product index column. Changes related to this include:
  • Added records in the Standard Assumptions table of the Asset Assumptions table structure to split out each assumption by the Asset Product Name index column rather than use a default across all products.
  • Added a Default Rates Table data table column in the same table as the previous bullet and assigned tables corresponding to the library assumption for each asset type (default rate assumption remains unchanged from before)
  • Default rate product variables in each asset now reference this nested table structure via a new Default Rate Table data table variable 

Other Changes

Fixes

• Fixed the Indexed Annuity option cost calculations in both the combined Fixed/Indexed Annuity product and the legacy Indexed Annuity product. The fix moves the participation rate outside of the brackets to apply to both the base and cap option costs and not just to the base option. Three variables are affected in each product, found by searching for “option cost”.

Changes

• Added Life & Annuity US Stat and Tax Interest Rates for 2024 (Life, Annuities, SPIA) and for 2025 (Life) in table structures
  • US STAT Valuation Rates – Life
  • US STAT Valuation Rates – Annuity
  • US STAT Valuation Rates – SPIA
• Renamed the array options in Indexed Annuity US STAT Valuation Method from AG33 to AG33/AG35 with the release of the combined Fixed/Indexed Annuity product. In that product, one of AG33 (for Fixed) or AG35 (for Indexed) is applied based on the investment account type being valued. In the future, this array name will be renamed to Fixed/Indexed Annuity US STAT Valuation Method for clarity.

Coming Soon

• Projection result comparison workbook
• Other asset-related updates
• Pension Risk Transfer library model

Fixes

• Fixed an issue in the calculation of Product variable “Entry Age 02 – State – Head Count BOP (Actives)” affecting plans using the Misc 2 decrement where the Misc 2 decrement rate should have been subtracted rather than added
• Fixed an issue where a $0 retiree benefit amount causes Retiree Payment Form Factors to divide by zero. See product variable “In Pay Record 26 – Payment Factor Annuity”.
• Fixed an issue where providing no Social Security benefit table in table structure “Benefit Formula Table References Not Yet in Pay” causes product variable “Product Variable “Social Security 04.4 Age to start compensation history” to default to 0. The variable now defaults to the value of product variable “Age at Valuation Date” instead of 0

Version 2025.03 of the Slope Governmental Pension Library has been unpublished so our users do not mistakenly utilize these invalid setups. If you require a copy of this version prior to the fixes, please contact support@slopesoftware.com.

New Features

Dynamic Model Point Variables in High Performance Mode

High Performance Mode now supports models with dynamic model point variables. This allows product variables to reference Portfolio or Company variables from prior time periods. See the diagram below and the Dynamic Projection Processing section of this support article for more details.

References to the summarized results of Products within Portfolio and Company variables continue to be supported, as these will have already been calculated.

Coming soon: Support for projections with initial asset scaling and investment in High Performance Mode (HPM).

Enhancements

Table Structure Column Sort Order Now Visible in Governance

When comparing models, users can now clearly see differences in a Table Structure’s column sort order, enabling more reliable and predictable model adjustments.
Note: Sort order changes are not mergeable at this time.

Data Table Column Differences Now Visible in Governance

When comparing models, the following Data Table column differences are now displayed.
Note: These differences are not mergeable at this time.

• Index Column: Yes/No
• Index Read Method: Exact Match or Range Lower Bound
• Sort Order
• Data Type
• Dropdown List Array (if applicable)
• Table Structure Name (if applicable)

New Workbook Editing View

Workbook editing has a new look! Properties, formatting options, and actions are now neatly organized into tabs, so you can make quick adjustments without feeling lost.

A new element bar allows for inserting charts, tables, and other elements on the fly.

Fixes

• Resolved an intermittent issue where the filter values for some workbook controls were not being populated
• Added stability around hardware failures to prevent intermittent, inaccurate Product Aggregates on certain larger HPM projections
• Fixed an issue where adding a model point file to a product using the API would sometimes fail.
• Saving allocations on models no longer causes intermittent errors.
• Computations in the profiling workbook are now correctly attributed to their respective variables.
• Adding a column to a table structure after deleting an array that was used for a dropdown list no longer results in an error

New Features

New API Endpoints

We have introduced the following new API endpoints, organized by resource type for easier reference:

DecrementTables

• GET /api/v1/DecrementTables/{DecrementTableId}
  • Retrieve a decrement table by ID

ImprovementScales

• GET /api/v1/ImprovementScales/{ImprovementScaleId}
  • Retrieve an improvement scale by ID

Models

• GET /api/v1/Models/{ModelId}/ScenarioTables
  • List all scenario tables in a given model
• GET /api/v1/Models/{ModelId}/ImprovementScales
  • Retrieve all improvement scales in a given model

TableStructures

• GET /api/v1/TableStructures/{TableStructureId}
  • Retrieve the details of a given table structure
• GET /api/v1/TableStructures/{TableStructureId}/DataTables
  • List all data tables in a given table structure
• GET /api/v1/TableStructures/{TableStructureId}/Columns
  • Retrieve all columns in a given table structure

ScenarioTables

• GET /api/v1/ScenarioTables/{ScenarioTableId}
  • Retrieve the details of a given scenario table

Enhancements

API enhancements

• The following endpoints are now paginated:
  • GET /api/v1/Files/GetFiles
  • GET /api/v1/DataTables/Data
• Added an optional “Content-MD5” parameter to the GET /api/v1/Files/GetUploadUrl endpoint
• Added a parameter to filter the GET /api/v1/Files/GetFiles endpoint by folder path

Other Enhancements

Compare & Merge

You can now use Shift + Click to select a range of items in the Compare & Merge tool. This allows users to select or deselect a subset of elements to merge rather than selecting them one at a time.

Confirm Merge

We have also streamlined the confirm merge window and added a filter to view all mappings, just the unmapped items, or just the successfully mapped items.

Formula Builder

You can now search in the formula builder to quickly add the following elements:

• Search “Array Value” to add an array value constant
• Search “Day of”, “Month of”, “Year of”, or “Time of” to add the corresponding date part

Fixes

API Fixes

• The correct error is now being thrown when file tabs are not populated in the PATCH /api/v1/Projections/{projectionId} endpoint
• The Data Table ID is again optional in the POST /api/v1/DataTables/{DataTableId} endpoint
• The GET /api/v1/DataTables/Data is again returning row data in the correct column order
• The POST /api/v1/Projections endpoint now supports either path parameters or request body payload

Other Fixes

• Grouping parentheses in formulas is now always shown in the Compare Products tool
• We are again showing the model name in the confirm merge window when removing data tables from a target model
• Backend stability improvements for very large HPM projections with product aggregations
• Users can again retrieve treasury rates in the Economic Scenario Generator
• Errors are now being shown correctly when the error limit on a projection is small (~10), and the error limit is reached

Deprecated / Removed Features

API Endpoint Deprecations

In conjunction with the new API endpoint structure, the following legacy endpoints have been deprecated and replaced with…

• GET /api/v1/DataTables/List
• GET /api/v1/DecrementTables/List
• GET /api/v1/TableStructures/List/{ModelId}

Promoted Production Models

Workspace models can now be promoted to “Production Models” within your workspace. Promoting allows you to designate a model once development is complete. Once a model is promoted, it is locked and cannot be edited. Production models can still be copied, used in projections, and used in the Governance module as a source when comparing and/or merging.

Promoting cannot be undone, and promoted models cannot be deleted.

Once promoted, Production Models are shown in the “Production Models” tab of the model list.

Users must have a dedicated Production Admin permission to promote a workspace model. Contact support@slopesoftware.com to assign a Production Admin for your workspace.

AI Reporting Features

Use AI with Formulas

You can now use AI to write new formulas, correct formula errors, and explain existing formulas applied to elements in workbooks. These AI capabilities can help enhance productivity and accuracy, ensuring you get the most out of custom calculations and available functions.

Explain charts with AI

The Explain this chart feature uses AI to instantly generate a description of any chart. Details can include key insights, observations, data distribution summaries, and other context that can enhance your understanding of visualized data and help drive informed decisions.

Compare & Merge Enhancements

We are actively working to make comparing & merging models faster and easier. You can now merge the following:

• Data Table deletions
• Multiple Improvement Scale additions at once
• Multiple Product additions and deletions at once
• Multiple Portfolio additions and deletions at once
• Multiple new values for a static array at once

API Enhancements

We have introduced a new GET /api/v1/Models/{modelId}/ProjectionTemplates endpoint, which allows you to pass in a model ID and get a list of all Projection Templates that exist on this model.

We have also made the following API enhancements:

• The GET and PATCH /api/v1/Projections/{projectionId} endpoints have been aligned so that the response from the GET endpoint can be seamlessly passed into the PATCH endpoint
• The PATCH /api/v1/Projections/{projectionId} endpoint now supports setting a scenario table subset
• The POST and PATCH /api/v1/ScenarioTables and points now support setting the Short Term Interpolation Method. If no value is provided when creating a new table, we default to Annual Effective Rate
• The POST and PATCH /api/v1/DataTables endpoints now support setting the Index Column Read Method. If no value is provided when creating a new column, we default to ‘Exact Match’
• Improved error messaging in the /api/v1/Reports/Workbooks/{id} when an element cannot be downloaded

Other Enhancements

• You can now copy an Assumption Set

• When a table used in a projection has been deleted, we indicate it is deleted in the Projection details
• We now show an information message when a formula uses an unnecessary Single Value Array Aggregation

Fixes

• The Rounding function is now correctly truncating the correct number of decimal places
• Results are displaying correctly in the Debug view for two-dimensional product array variables referencing other two-dimensional product array variables and for two-dimensional portfolio array variables referencing a one-dimensional product aggregate array variable
• Links from the Relationship View are again working
• The Standard Deviation parameter in the Statistical Distribution function for Normal and Lognormal distributions has been correctly labeled

Enhancements

The library model has several enhancements that provide additional options and features:

• Advanced COLA limits for retirees
• Single Benefit Definition covering both Active and Vested Terminated
• Parameterization of Social Security PIA benefits for each benefit formula
• Additional details of annuity payment form factors in workbook “Pension Trace Life Retirees”
• Additional option to use a specified model point field as a source for:
  • Account balance at the valuation date for retiree benefits with an annuity payment form with a Modified Cash Refund feature
  • COLA anniversary date
  • Payment form for Active and Vested Terminated records

Advanced COLA Limits for retirees

The library model now comes pre-configured with a way to develop Cost of Living Adjustment formulas that are more complex than a simple rate increase for retirees in addition to Active and Vested Terminated. An example would be a limit of cumulative COLA to less than 2.5 times the benefit amount at retirement. See this support article for more details.

Single Benefit Definition can now cover “Active and Vested Terminated”

In the table structure “Benefit Definitions Not Yet in Payment”, the column “Active or Terminated Vested” now has a 3rd option “Active and Vested Terminated”. If this option is selected, both active and vested terminated records will be eligible for the particular benefit definition. This eases the maintenance of the model by reducing the number of configured benefit definitions for each plan. See this support article for more details.

Robust Social Security Primary Insurance Amount (PIA) for separate benefit formulas 

Parametrization of multiple Social Security PIA benefits is now included in the library model via a new column “Social Security Benefit” in table structure “Benefit Formula Table References Not Yet in Pay”. For each benefit formula, the column selects the Social Security parameters by referencing a data table from table structure “Social Security Benefit”.

A new benefit formula component “Social Security PIA at computation age *  Early Retirement * Inflation” can now be used within product variable “01 Benefit Formula Amount Annual – Actives and VTs”

Workbook “Pension Trace Life Retirees” has been modified to include details of annuity payment form factors.

The workbook has been enhanced to provide additional information around payment form factors for retiree annuities.

Retiree benefits with an annuity payment form with a Modified Cash Refund feature can now reference a model point field as the source for the account balance at the projection start date 

A new column “Account Value Data field override” has been added to the table structure “Retiree Guarantee Period”. The column is used to select a model point field which reports the amount of the current account balance when calculating the guarantee period of an annuity with a Modified Cash Refund feature.

Additional option to apply COLAs on the anniversary specified by a selected model point data field 

An additional option to apply COLAs on the anniversary of a specified date variable from the model point fields is now available within table structures “Benefit Definition – Payment Form” and “Retiree COLA Increase Details”. See this support article for more details.

Additional option to select the payment form for Active and Vested Terminated records using a model point field 

Users can now select the payment form for Active and Vested Terminated records by referencing a specified model point field. The selected model point field is configured in a new column “ModelPoint Field that varies Annuity Form” in table structure “Benefit Definition – Payment Form”. See this support article for more details. See this support article for more details.

Changes and Fixes

• Product Variable “Time of First Funding Age” has been modified to correct certain situations where it was not returning the first anniversary of the valuation date subsequent to hire.
• Product Variable “Array Reference Retirement Latest” has been modified to return the first day of the valuation year in which 100% retirement rate is assumed, but only for active records.
• The product variable “Compensation Participant from Entry Age” has been modified to correct for certain situations where it was not recognizing parameters from data table structure “Compensation History Parameters”.
• The product variable “Decrement Array Start” has been modified to address certain configurations where errors were returned for retired and nonvalued records.
• The product variables “Decrement Array End” and “Decrement Array Step” have been modified to address certain configurations where errors were produced with middle of year decrement timing.
• Added a default source for the “PV Factor – Interest Discount” variable to fetch the discount rate from Valuation Assumptions table rather than returning an error.
• Revised product variable  “Entry Age – PVB at Entry Total” variable to include one half year of interest discounting when calculating participant contributions
• Revised product variable  “EA Level Pct Pay 05 – Compensation Monthly Stream” to correctly calculate valuation year pay for mid year decrement timing

New

Personal API Tokens

Users with API access now have the ability to create Personal API tokens in addition to Workspace API tokens

Personal API tokens are generated at the user level and impersonate the access of the user who creates them. This includes the system roles/permissions and individual model permissions.

Workspace API tokens give users access to call any endpoint for any model in the workspace, regardless of the user’s individual permissions in the platform.

You can generate and access API tokens by selecting the user icon (👤) in the top right of the application, then selecting “Administration”.  See this support article for more information.

Enhancements

API Enhancements

• The GetProjectionDetails endpoint now includes the Model ID and Scenario Table ID
• The GetFileUploadUrl endpoint now includes an optional “Content-Type” parameter

Copy Link to Variable

You can now quickly get a direct link to a variable in your model by hovering near the “Variable Properties & Documentation” header next to the variable name

Error Indicators on Product and Portfolio List

If a product or portfolio contains a variable with an error, we show an error icon next to that product or portfolio in the list. This can help quickly identify entities in the model that need review.

Enhanced Configuration When Converting Variable to Model Point Field

When converting a variable to a Model Point Field, you can now set the Aliases, Default Value, and Required fields all in one window.

Additional Projection Details

You can now see the Projection name and completed time for a run in the header of the Projection Details

Other Enhancements

• The “Set Tables to Latest Version” setting when duplicating projections now applies to Scenario tables in addition to data tables
• You can now select the folder for a model upon model creation

Fixes

• HPM projections no longer fail to complete when the projection contains zero model points
• Economic Scenario Generator can now retrieve the 2025 US Treasury rates
• We are again showing the difference in the Compare view for company variables when the variable uses a static array and a single formula for all array values

Enhancements

Freeze Columns in Pivot Tables

Pivot tables now support the ability to freeze or unfreeze the position of columns.

Search “True” or “False” in Formula Builder to Insert Boolean Formula

You can now search “True” or “False” in the formula builder to quickly insert a Boolean constant with “True” or “False” automatically set as the value.

Fixes

• Switching the array in variable properties from a one-dimensional array to a two-dimensional array that contains the original array correctly retains the formula per array value if applicable
• The GET projection endpoint is now correctly returning a status when a filter is applied
• Data tables are no longer being erroneously created on import when files are missing column names

New

Advanced COLA Limits

A new product variable, “06 Advanced COLA – Annual Dollar Amount”  has been created. This product variable allows the development of Cost of Living Adjustment formulas that are more complex than a simple rate increase. 

An example would be a limit of cumulative COLA to less than 2.5 times the original benefit amount. Other product variables that are compatible with developing these formulas have been assigned the tag “Advanced COLA”. A formula is defined per benefit payment form. 

Control of this feature is set in the table structure “Benefit Definition – Payment Form” in the column “Advanced COLA” in which a specific benefit formula to which to apply the Advanced COLA can be selected.

“Pension Trace Life New Entrant” Workbook

The workbook has been created to allow review of calculation details for new entrants in a multiyear projection.

Enhancements

Additional granularity to the configuration of compensation limits 

The table structure “IRS and Social Security Limits” is used to configure future and historical compensation limits. Previously this table appeared as a top level configured table for projections. This table has now been nested in the table structure “Valuation Inputs – Plan Definition”. Different tables can now be assigned to different Plan Populations.

“Multi-Year Projection” Workbook has been reconfigured 

The workbook has been enhanced to provide additional information around annual compensation and provide service cost rates.

New Entrant Service Cost

The following product variables have been created to allow review of the underlying calculations for new entrants in a multiyear projection

1. “Service Cost Rate”
2. “Service Cost PV of Future Comp at Entry”
3. “Service Cost PV of Benefits at Entry”

Changes and Fixes

• Product Variables that began with the prefix “ZZ” or “ZZZ” have been renamed with the prefix changed to “Multi Year”. The variables have also been tagged “MultiYear”.
• The following product variables have been modified to fix potential conflicts with certain deferral periods: “Annuity Survival Retiree Healthy”, “Annuity Survival Retiree Disabled” and “Annuity Survival Beneficiary”.
• The product variable “Service Years Rounded Attained Age Less Hire Age” has been modified to make the calculations compatible with multiyear projections with new entrants.
• The product variable “Alternate Salary Compensation Valuation Date” has been modified and the variable “Alternate Salary Compensation Valuation Date 00” has been created to make the underlying calculations compatible with multiyear projections with new entrants.
• The product variable “Age Beneficiary (unrounded) preliminary” has been modified to make the calculations compatible with multiyear projections with new entrants.

Enhancements

Model Lineage Shows the Model Source and Other Details

Model details now include additional information to help keep track of a model’s source and history. The “Copied From” field shows which model was copied to create the model you’re looking at (source). You can link directly to the original model as long as it has not been deleted.

Model details now also include the “Created On” date and the model folder if applicable.

Option to Not Reset Table Version Numbers on Copy

Users now have the option to reset or not reset table version numbers when copying a model. When copying a Library model, this box will be checked by default. All other models have this box unchecked by default so that you maintain table version numbers from the source model.

Show Nested Table Version Numbers When Comparing Tables

Users will now see the version numbers of nested tables when using the Compare Tables tool.

Fixes

• Model copies are no longer failing when model permissions are set to Shared with Specific Users
• Projections with over 4000 scenarios are no longer failing validation
• When changing an array to Calculated Range Array from any other type, values are no longer being incorrectly reset to ‘0’
• Memory issues no longer result in Model Point Results not getting written
• Portfolio variables with commas in their name can now be selected as the Scenario Source in a Present Value formula or Yield Curve Merge formula for a product variable