A Benefit Formula Component or an Accrual Basis Component table type of component refers to a single benefit component table or conversion table for all records, or a collection of tables chosen according to the contents of a coded field in the database.

The most frequent use of benefit formula component tables are references by benefit formula components for early retirement factors and graded vesting schedules. An accrual basis component of the table type might be used, for example, to create a schedule of age-graded cash balance credits.

Pick the associated single table for all records from the list of tables already defined, or click the  button to access the benefit component (or conversion) table library. From there you can create new tables or modify existing ones.

If the component value varies by coded field, the contents of this field will determine the table used to assign a value to the benefit formula component. Select from the list of scalar coded database fields in the current project’s Data Dictionary. The codes for the field will populate the first column of the spreadsheet that becomes accessible. To assign values to the benefit formula component, choose the table (from among the list of all the benefit component (or conversion) tables in the current project) related to the field code. The spreadsheet will map the codes of the field to the related tables. To modify a table in the list or create a new one, click the  button to access the benefit component (or conversion) table library.

Benefit component (but not conversion) tables contain values that depend on age, service, sex, or a combination of these elements. The Using Service from Service Definition Set: drop-down selects the Service Definition Set that defines the appropriate service, where the <Base Service Set> default refers the the service defined under the Member Data topic of the Census Specifications. The  button accesses the library to create and modify Service Definition Sets. 

Click the Age/Interpolation button to specify how age, and service in the case of certain benefit component tables, is defined for table look-ups and to indicate whether or not the table values should be interpolated:

• If the referenced benefit component table is an Age by Points Age table type, Points to determine member points age becomes available. Specify the points (i.e., age + service) to be used to enter the table.  Thus, the table value used will be the one at the intersection of the member age at the determination date and the member age at the age when the specified points value would be achieved assuming that age and service increase by 1 each year.

• The Enter table based on service choices for benefit component (but not conversion) tables are service completed (truncated) or service exact (interpolated).  

• The and age determined by choices are:
  • Default Age Definition determines age as defined by the default Age Definition selected in the Plan Attributes
  • Alternative determines age using the selected alternate Age Definition. 

• The age can be calculated at either the calculation date or the beginning of the plan year.

• When the referenced table is an Age Difference table type, If age difference is fractional indicates which table value should be used when the calculated age difference is not an integer.  The age difference can be truncated, rounded nearest, rounded up or the table value can be interpolated to the fractional age difference.

• Apply rounding rule: rounds interpolated table values.  For the Amount: parameter, a value of .001, for example, indicates that results should be rounded to thousandths, a value of 0 indicates that results should be rounded to integers, and a value of 2 indicates that results should be rounded to hundreds.  The Direction: parameter indicates whether the rounding should be up, down or to the nearest value.

 Additional details about how ProAdmin calculates age are available in the Technical Reference article Age Calculations.