If checked, Accumulate payments for Estimates, Final calculations or All estimated and final calculations enables the accumulation of missed or delayed payments from calculation commencement date(s) to actual payment start date of xx or ​assuming a ​specified month delay of first payment. If a payment start is selected (rather than a temporary delay), choose a scalar date field from the Data Dictionary  to be the date that the participant is actually paid accumulated missed payments (the "retro date"). When the retroactive payments feature is used, actuarial equivalence for payment forms is determined at the benefit commencement date(s) entered to run a calculation and then any accumulated missed payment due between the benefit commencement date and the actual payment start date (the "retro date") is calculated and provided in the output. In order for retroactive payments to be calculated, all commencement dates and the retroactive payment date must be first of the month dates. The retroactive payment calculated as of the retroactive payment date does not include the monthly payment due on that date.

If checked, Apply interest using (annual rate): allows you to include interest in the accumulation of the retroactive payment amounts using one of the following options:

• Constant credits interest based on the specified annual 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 annual rate specified in the selected numeric database field. 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 month. 

• Based on Interest Rate Table credits interest based on the interest rate as of each crediting period according to the selected Interest Rate Table library entry. Only flat rate (not spot rate, duration or PBGC) type tables may be selected. If the interest rate varies during the month, the rate at the beginning of the month is used. The interest rate determined as the of the first of the month will be used to determine monthly retroactive interest due on that date. For example, the amount due on 10/1 will use the 10/1 interest rate. The Interest Rate Table lookback period and other parameters can be used to control the first of the month rate. 

Choose <rates by coded database field> if different tables apply to groups of records that can be identified by the values of a coded database field (e.g., Division). Once chosen, the Parameters button becomes available (unghosted), allowing you 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.

The Use prior month interest checkbox allows the use of the preceding month's applicable interest rate to calculate the interest payment for that month (i.e., use the December rate for determining interest due for January).

The Freeze at checkbox allows you to freeze the interest rate at a specified date.  If checked, select the scalar date field from the Data Dictionary that contains the freeze date.

The Determine monthly rate option defines how the annual interest rate is adjusted for monthly periods: either arithmetically or geometrically may be selected. When arithmetically is selected, the annual rate is divided by 12. When geometrically is selected, one plus the annual rate is raised to the power of one-twelfth to determine one plus the monthly rate.

Include interest for annuity payment forms, all payment forms or lump sum payments allows you to optionally calculate interest on payment forms being made retroactively.

The Apply interest rate rounding rule checkbox allows you to round the monthly interest rates. The value entered for the Amount controls the rounding precision. For example, to round the rates to 4 decimal places enter 0.0001 as the Amount parameter. An Amount entered as 0.0025 indicates that rates should be rounded to 25 basis points. Direction indicates whether the rate should be rounded Up, Down, or to the Nearest multiple of the Amount.

If checked, Not applicable if commencement date(s) are before enables a multi-choice field for selecting a scalar date field from the Data Dictionary that represents the earliest possible date that retroactive payments can be determined.