Service stop adjustment

Service stop adjustment allows you to adjust the date that ends the service calculation. For example, when a member terminates his employment, service may be allowed to accrue to the end of the month. There is at most one stop adjustment to decrement date, when not using events. If using events, the general case for all events is one adjustment, however you can have specific overrides to the general adjustment.

Date Adjustment to service stop (e.g., “as of”) date lets you select an entry from the Date Adjustment Library to round the stop date. The button allows you to go directly into the library and set up a new rounding rule definition.

The default stop date adjustment is <none>. For an elapsed time calculation, that means don't give credit for the last day worked. For example, if you were hired on 1/1/2020 and terminated 12/31/2020, you would not earn 1 year of service because you would be 1 day short (no credit for 12/31/2020). If you want to give credit for the last day worked, you need to create a Date Adjustment to add 1 day to the service stop -- see Plus 1 day.

If events are not being used:

Grant _____ years of additional service at decrement allows you enter a numerical value for additional service if it is to be added onto the computed service. For example, a plan may grant additional years of service during a “retirement window.”

Allow service to accrue beyond decrement permits you to specify an amount or date up to which service is allowed to accrue beyond the stop date. For example, service may be allowed to accrue to the end of the month. The next two check boxes are:

Limit post decrement accruals to _____ years of additional service which provides the field you can use to allow service to accrue after an employee leaves the company. For example, suppose a plan has a “retirement window” which provides employees with an additional 2 years of service. In this case you would enter 2.

Stop post decrement accruals at this Date Adjustment which provides a dropdown for you to select an entry from the Date Adjustment Library. An example would be when (projected) service is needed at Normal Retirement Date.

Project service to is a grid where you can specify Age, Service and Points (age + service) combinations to which service is to be projected.

or Date if earlier provides a dropdown for selecting a date that is defined in the data dictionary. Service will stop accruing at this date if it is before the date set by the conditions in the grid.

Projection date adjustment is a dropdown from the date rounding adjustments library. This rounding adjustment will be applied to the projected date.

If events are being used:

Grant _____ years of additional service at event date allows you enter a numerical value for additional service if it is to be added onto the computed service. For example, a plan may grant additional years of service during a “retirement window.”

Allow service to accrue beyond event date which permits you to specify an amount or date up to which service is allowed to accrue beyond the stop events as defined in Events Definition. For example, service is allowed to accrue up to two years while on a paid leave of absence. The check boxes are:

Limit post-event accruals to _____ years of additional service which is a numerical field you can use to allow service to accrue after an employee reaches a stop event. For example, suppose a plan provides that employees continue to earn service, up to 5 years, while they are performing military duties. In this case you would enter 5. Any employee who returns to work after completing more than 5 years of military service will only receive 5 years. Any employee who returns to work after only completing 3 years of military service will only be credited with receive 3 years.

Stop post-event accruals at this Date Adjustment is a dropdown from the date rounding adjustments library. This rounding adjustment can be used in conjunction with the numerical fields above.

Project service to is a grid where you can specify Age, Service and Points (age + service) combinations to which service is to be projected.

or Date if earlier provides a dropdown for selecting a date that is defined in the data dictionary. Service will stop accruing at this date if it is before the date set by the conditions in the grid.

Projection date adjustment is a dropdown from the date rounding adjustments library. This rounding adjustment will be applied to the projected date.

Overrides by Event(s) provides the area when the general case does not meet the needs for specific events. Different stop adjustments can be defined as overrides. Any override can be used for more than one event, but no event can have more than one override. An asterisk (*) by an existing override means that the override is not used for any events. If the box is not empty, you may click on an existing entry (click to edit) to view its parameters or you can click on the “New” button which will show the Override service stop adjustment dialog screen:

Description is any descriptive phrase that identifies the override to you. You may want the override to apply to one or several events, in which case the description may include the events to which it applies. It can be of any length and may use any character or spaces.

Date Adjustment to service stop (e.g., “as of”) date - You can select an entry from the Date Adjustment Library to use as the rounding rule to the stop event(s) you will be selecting.

Grant _____ years of additional service at decrement – Use this field if additional service is to be added onto the computed service for the events that will be selected. For example there may be a retirement window that is available to certain employees during a specific period of time. For this window an event may be established to distinguish members who terminate under the window and those that do not. If the window grants a set amount of service, that amount can be entered here.

Allow service to accrue beyond decrement – This allows service to accrue while the employee is not working such as on a leave of absence.

Limit post event accruals to _____ years of additional service – You can use this field to allow service to accrue after an employee leaves the company. For example, suppose a plan provides that employees continue to earn service, up to 5 years, while they are performing military duties. In this case you would enter 5. Any employee who returns to work after completing more than 5 years of military service will only receive 5 years.

Stop post decrement accruals at this Date Adjustment - This dropdown allows you to adjust the stop event date.

Project service to – This grid allows service to be projected to a specified age and/or service or

Date if earlier – You can select a date that is defined in the data dictionary. Service will stop accruing at this date if it is before the date set by the conditions in the grid.

Projection date adjustment is a dropdown from the date rounding adjustments library. This rounding adjustment will be applied to the projected date.

Apply to stop event(s) – allows you to pick the specific events to which you would like the adjustment to apply. ProAdmin will list all the stop events defined in the selected Event Definition. The $image\checked_on_top_button.gif$ button brings the selected events to the top of the list. The $image\alphabetize_button.gif$ button puts the list in alphabetical order.

* Used in a different stop adjustment - an asterisk indicates that a different stop adjustment is used for the event. Should you select an event that has an asterisk, the adjustment that had been assigned to the event will no longer be used for the event.