A Valuation Provision defines the benefit items and provision-level formulas that apply beginning with a specified valuation date.

• Provision Information:
  • Effective Date: Specifies the first valuation date for which this provision, its liability items, and its provision-level formulas apply.

• Plan Valuation Liability Items:

  This list contains the benefit components included in the provision.

  • Item Name: Displays the name assigned to each Valuation Provision Item.
  • Decrement: Displays the event associated with the item: Retirement, Termination, Death, or Disability.
  • +: Adds a new Valuation Provision Item and opens its details.
  • -: Removes the selected item from the provision. The button is unavailable when the list is empty.
  • Open an existing item: Double-click an item in the list to review or edit its details.
  • Excel: Opens the displayed Item Name and Decrement list in Excel.

• Employee Contributions:
  • Employee Contributions: Defines the formula used to project employee contributions while the participant remains active. Funding and accounting results report the present value of future employee contributions separately, and the employee contribution normal cost reduces gross normal cost. This formula is separate from the item-level Return of Employee Contributions Balance.

• Inactive Benefit Override:

  These formulas replace the future annual benefit pattern for selected stored inactive benefits.

  • Filter (optional): Identifies the stored inactive benefits to which the override applies. If left blank, the override applies to all stored inactive benefits.
  • Annual Benefit: Defines the complete replacement annual benefit pattern for the inactive benefits selected by the Filter.