#PMTAGE (OPEB mode)
Returns payment age (after decrement), i.e., age on the anniversary of the valuation date in the year of payment, unrounded (OPEB mode only)
If rounded results are desired, use with #ROUND, #INT, or #FLOOR.
Age is measured on the anniversary of the valuation date in the year of payment, regardless of the setting selected for claims payment timing under the Other Valuation Parameters topic of Valuation Assumptions or the setting selected for decrement timing under the Decrements topic of Valuation Assumptions. When used in a Benefit Definition for a Payment Form to the Member, ProVal returns the member’s age for the payment year. When used in a Benefit Definition for a Payment Form to the Spouse, ProVal returns the spouse’s age for the payment year.
Syntax:
#PMTAGE
Examples:
RETFORM * (#PMTAGE>=60)
Retirement formula payments start with first payment on or after attaining age 60 (on or after 60th birthday).
DEATHBEN * (#ROUND #PMTAGE<85)
Death benefit to spouse stops after payment age 84, using rounded payment ages. That is, payments cease at the anniversary of the valuation date nearest to the spouse's 85th birthday. (If claims timing is beginning-of-year, there will be no payment at that valuation date anniversary.)
Related Operators: