The Election Probabilities topic in Projection Assumptions asks essentially the same questions as the Election Probabilities topic of Valuation Assumptions. However, the election probabilities defined in Projection Assumptions represent the experience of the plan, from the initial valuation date to any future valuation date.

For example, you might assume for valuation purposes that all participants elect an annuity form; however, during the projection, you might assume that 25% elect a lump sum form. In this case, actuarial gains or losses will occur because the plan’s experience differs from the valuation assumptions.

The dialog box that appears when you open the Election Probabilities topic is structured like the corresponding topic under the Valuation Assumptions command, except that it does not contain the parameter to indicate whether the specified election probabilities for joint and survivor optional forms apply to all plan participants or only married participants. The selection made for this parameter in Valuation Assumptions is applied for experience also.  For details about coding the parameters for experience assumptions, see the election probability discussion under the Election Probabilities topic of the Valuation Assumptions command.