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Election Probabilities

The Solvency & Windup Liability Election Probabilities topic specifies election probabilities to be used when calculating the solvency and windup liabilities. To set the election probabilities to be the same as the ongoing liability election probabilities, check the  Same as Ongoing Liability checkbox. If the solvency & windup liability election probabilities are different, first specify election probabilities for the transfer value liability.  Then either check the box to set the annuity purchase election probabilities to be the same as transfer value, or uncheck the box and then define separate annuity purchase election probabilities.

For details about coding the parameters for Solvency & Windup election assumptions, if different than Ongoing election assumptions, see the discussion under the Ongoing Liability Election Probabilities topic.

The dialog box 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 as seen in the Ongoing Liability Election Probabilities topic. The selection made for this parameter in the Ongoing Liability topic applies for the Solvency & Windup Liabilities.