The Active Rate Change tab allows you to change the crediting rate for each participant upon satisfaction of an eligibility condition.  Please note that a crediting rate changed defined here is not subject to the parameters on the Adjustments tab.

If the Change crediting rate upon: checkbox is checked, the parameters to specify both the eligibility criteria and the new crediting rate will become available:

• Attainment of Eligibility Definition: selects an Eligibility Definition which defines the conditions and/or exceptions that trigger the change in crediting rate. Some examples are attainment of age 55 or attainment of Normal Retirement Age.

• Based on Service Definition Set: selects the Service Definition Set which defines how to evaluate any service or points criteria in the selected Eligibility Definition. If <Base Service Set> is selected, the Service Definition Set specified in the Census Specifications is used.

To new crediting rate: defines the crediting rate applicable after the eligibility criteria is met.

• Constant credits interest based on the specified rate. Enter the constant rate as a decimal (e.g. 0.08 for 8.0%).

• Constant from database field credits interest based on a constant rate from a numeric field within the data. The numeric field may be either scalar or an array. If the field is an array field, the interest rate will change in accordance with changes in the field, based on the rate in effect at the beginning of the crediting period. However, the first rate specified will be used for all crediting dates prior to the effective date of that rate.

• Based on Interest Rate Table credits ​​interest based on the interest rate as of each crediting period according to the selected Interest Rate Table. Only flat rate (not spot rate, duration or PBGC) type tables may be selected. If the interest rate varies during the crediting period, the rate at the beginning of the period is used. If different tables apply to different groups of records who can be identified by the values of a coded database field (e.g., Division), then you can specify <rates by coded database field>. Click the Parameters button to specify the coded field and select the Interest Rate Table to be used for each code. If the coded field is an array field, only the most recent value will be used to determine the applicable table.

For example, a plan specifies that prior to completion of 1000 hours of employment in a calendar year, interest is credited at 3.0%, and at the 30 year Treasury rate thereafter. The Structure tab would reference a Constant rate of 3.0%. This tab would specify an Eligibility Definition that was one year of service, a Service Definition Set that converted a 1000 hours to one unit of service, and a new crediting rate based on the 30 year Treasury rate table.