QUESTION: My plan's benefit is 3.0% of contributions, up to a maximum of $24,000. Above the $24,000 cap, the benefit accrues at 1.5% of contributions (i.e., the accrual is cut in half). How can I code this in ProVal?

ANSWER: Define a Benefit Formula Component, e.g. BENEFIT, to calculate 3% of contributions. That is, it should be an Accrual Definition with a Career Average format where:

Accrual Basis:  #SALARY (contributions are coded as Salary in the Census Specification)

Accrual Rate:  .03

Accrued Benefit: "Database field" (if uncapped accrued benefit known) or "Expected value" if it is not.

Then create a Benefit Definition with the following benefit formula:

(BENEFIT #MIN 24000) + {[(BENEFIT #MAX 24000)-24000]/2}

NOTE: The /2 above cuts the benefit accrual in half.