Plan Definitions - German mode

Benefits for active and terminated vested participants are determined by the Plan Definition. The Plan Definition is simply a collection of Benefit Promises, where Benefit Promises are collections of individual benefits payable under various contingencies.

Plan name is a text field for the name of the plan for which benefits are defined.

Benefit Promises lists the Benefit Promises included in this Plan Definition. You can expand a Benefit Promise to reveal its referenced Benefit Definitions, along with its benefit formula and the referenced Benefit Formula Components.

To create a new Benefit Promise and add it to this Plan Definition, click the New button.
To edit an existing Benefit Promise, double-click the Benefit Promise, or select it and click the Edit button. You can also edit Benefit Definitions and Benefit Formula Components in a similar manner.
To add or omit existing Benefit Promises, click the Add/Omit button. Check any Benefit Promises to include in the plan and uncheck any Benefit Promises you wish to omit from the plan.
To compare Benefit Promises, select two or more and click the Compare button. You can also compare selected Benefit Definitions and Benefit Formula Components in a similar manner.
To modify Tags for Benefit Promises, select one or more Benefit Promises and click the Tags button. You can also modify Tags for Benefit Definitions and Benefit Formula Components in a similar manner.
To customize which Benefit Definition details are shown, click the Columns & Rows button and then choose Benefit details. You can also customize which Benefit Formula Component details are shown in a similar manner.
See Benefit Promises for more information.

Promises Map lets you value Benefit Promises only for specified database codes. See Map database codes to Benefit Promises for details.

Legal Vesting Service is used for all benefits in Benefit Promises of the Pension type that are included in this Plan Definition (vesting does not apply to Benefit Promises of the Jubilee type). It may be defined by specifying a database Field or a Service Definition, to indicate when legal vesting service commences (if a date field is selected) or the amount of legal vesting service the participant has as of the valuation date (if a numeric field is selected). Alternatively, selecting “<date of hire>” as the field indicates that, depending on the database record’s ProVal status, the date of hire field specified (for active participants) under the Active Data topic of the Census Specifications is to be used or that the date of hire field specified (for terminated vested participants) under the Terminated Vested Data topic of the Census Specifications is to be used. The vesting service defined here will be used for all vesting, whether legal or contractual. Specifically, it will determine the numerator and denominator of the pro rata temporis fraction and determine vesting eligibility.

Select the legal vesting service from among the database fields and Service Definitions unhidden in the current Project. The button accesses the Service Definition library, allowing you to modify an existing Service Definition or create a new one.

Plan Attributes - final average salary methodology, and frequency and timing of benefit payments

Plan Constants - values for plan constants used in building the plan definition