Fractional future accruals for eligibility service
QUESTION: My plan defines vesting service using a 1,000 hour rule and credited service as 1/10 of a year per 150 hours, up to a maximum of 1 year for 1500 hours. Eligibility requirements for vesting and retirement are:
VESTING: Earlier of 10 years of vesting service and 10 years of credited service.
RETIREMENT: Later of age 65 and first eligibility. First eligibility is the earlier of 5 years of service (since hire) and satisfaction of vesting eligibility.
How can I code these eligibility requirements in ProVal?
ANSWER: Specify eligibility service using a Service Definition with fractional service accruals.