#DECYEAR (OPEB mode)
For actives, returns the calendar year of the anniversary of the valuation date in the year of decrement, e.g., 2010 (OPEB mode only)
The year is determined without regard to the setting selected for decrement timing under the Decrements topic of Valuation Assumptions. For example, if the valuation date is 10/1/2012 and an active member is assumed to retire at 4/1/2013 (i.e., mid-year decrements are assumed), the decrement year is 2012, not 2013. (The decrement year, in this example, begins on 10/1/2012 and ends on 9/30/2013. The anniversary of the valuation date in this decrement year occurs on 10/1/2012.) Under midyear decrement timing, because ProVal calculates benefit amounts by averaging benefit payment values at the beginning and end of the year, the effect will be to use a #DECYEAR value of 2012.5 (averaging 2012 at 10/1/2012 and 2013 at 10/1/2013) to calculate benefit payment amounts for decrement year 2012.
For inactives, the year of decrement is based on the field value of the Date of decrement (or decrement age) parameter of the Inactive Data topic of Census Specifications (without regard to the valuation date). If a numeric decrement age is entered, ProVal “backs into” the decrement date and returns the year in that date.
Syntax:
#DECYEAR
Examples:
1) NEWRETFORM * (#DECYEAR>=2005)
If the valuation date is January 1, new retirement formula applies to actives retiring after 2004 (i.e., on or after 1/1/2005).
If the valuation date is October 1, new retirement formula applies to actives retiring on or after 10/1/2005.
2) [OLD * (#DECYEAR<1995)] + [NEW * (#DECYEAR>=1995)]
Those inactives whose Date of decrement (or decrement age) field contains a date on or after 1/1/1995 (i.e., retired in 1995 or later) get the new formula, while those who retired on or before 12/31/1994 get the old formula. Note that this applies regardless of the valuation date, whether it is, for example, January 1 or October 1.
These examples involve a change in benefit eligibility in a particular year of decrement, which preferably should be coded by using the eligibility parameters of the Benefit Definition, not by using the formulas of the Gross Benefit Definition and Participant Contribution. If decrements are assumed to occur at midyear, unless the eligibility parameters are used, liability values will be distorted (because of averaging beginning and end of year benefit amounts and payment form values).
Related Operators: