ProVal Tip: Use Plan Constants to simplify and streamline the benefit definitions of your most complicated plans
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Plan constants allow you to define benefit and payment form parameters (eligibility, accrual rates, deferral ages, and more) by a coded field. This is particularly useful for plans with multiple tiers of benefits. For example a large public plan may have accrual rates or eligibility conditions which differ by tier.
To assign plan constants in your plan definition:
- Navigate to the Plan Constants topic and check the box to Set values for Plan Constants.
- Select the coded field(s) you wish to use to distinguish benefit groups (for example, the field which defines tier or union status).
- Click the New button to create one or more Plan Constants (for example @EligibilityAge).
- Define the value of each Plan Constant for each code.
Plan Constants may be used in any parameter with a small green triangle in the top right corner. For example, @EligibilityAge may be referenced in the eligibility section of the benefit definition.
Plan constants may also be defined by separate coded fields. For example, you could set some plan constants by Employer type with 10 codes and set other plan constants by Employee class with 20 codes, without having to create a master coded field with the 200 permutations of type and class.
A list of parameters which use plan constants is available in ProVal Help.
Additional Resources
More information on this can be found in ProVal Help using the following link:
