The latest Valuation Provision effective on or before the valuation date supplies the provision-level formulas and benefit items.
The latest Valuation Provision effective on or before the valuation date supplies the provision-level formulas. Each benefit stream is configured as a benefit item within that provision.
Effective Date — First valuation date for which the provision and its benefit items apply.
Employee Contributions — Projects employee contributions while the participant remains active. Funding and accounting output reports their present value separately and offsets gross normal cost by the current-year contribution amount.
This differs from Return of Employee Contributions Balance, which replaces a nonvested benefit item when its Vesting Adjustment is exactly zero.
Inactive Benefit Override — Filter — Selects stored inactive benefits whose future payment pattern is replaced.
Inactive Benefit Override — Annual Benefit — Defines the replacement annual benefit pattern for the selected inactive benefits.