Calculating Pension Estimates

As Of Date

Because your plan rules are effective-dated, you need to enter an as of date for the rules. If you are reproducing a past estimate, this date ensures that you use only the data that was available at the time.

Web Results Retention Months

Enter the number of months that you want the database to retain the user's calculation results. Every time the user runs this Estimate Pensions calculation, it replaces the previous calculation results.

Maximum BCD Age/YY.MM (maximum benefit commencement date age)

Enter the maximum BCD age in YY.MM format.

Wage Base Escalation Rate

Enter the wage base escalation rate. The wage base escalation rate is the assumed rate of increase in the taxable wage base. This is used for Social Security calculations and it can also affect other calculation components, depending on the plan rules.

Percent Salary Increase

Enter the salary increase percentage. The salary increase percentage is the assumed rate of increase in periodic earnings.

CPI Percent Increase (consumer price index percent increase)

Enter the CPI percent increase. The CPI percent increase is the assumed rate of increase in the CPI-W table. This is used for Social Security benefit increases.

Calculate All Plans

Select to have the system use all pension plans that have been defined in your Pensions Administration system.

Detailed Worksheet

Select to preserve intermediate results for reporting purposes.

Grant Full Service Credit

Select to have the calculation give the employee full credit for all the service that was forfeited because of a withdrawal of contributions.

Load External Employee Data

Select to have the the system run your own process to bring relevant employee data into the calculation linkage, where it is available to all the pension functions.

Allow User Salary Increase

Select to enable the user to select his or her own projected salary increase for use in the Estimate Pension calculation.

Maximum Salary Increase Percent

If you selected the Allow User Salary Increase check box, enter a maximum salary increase percent limit.

Instructions to User

Enter any instructions that you want the user to read. These instructions appear at the top of the Estimate Pension page.

Disclaimer

Enter information that appears to the user at the top of the Disclaimer page.

Optional Forms Description

Enter payment descriptions that users access by clicking the Descriptions of Options for Forms of Payment button on the Pension Plan Estimate - Eligible Plans page.

Plan

Enter the pension plans that your organization wants to make available to the users of the Estimate Pensions calculation. Only eligible plans appear to the user.

Pension Type

Displays the pension type.

Assumed Contributions Pct (assumed contributions percentage)

Enter the assumed contributions pct. When the calculation projects contributions, the system applies this percentage to projected earnings to arrive at future contribution amounts.

Use Process Selection

Select to single out specific processes to run. Scroll to the desired plan and select this check box. Then select the Execute box for each process you want to run. If you select a process that depends on values obtained from previous processes, be sure that you run those previous processes as well.

Process Name

The process name is the name that your organization has assigned to the specific process; the description follows.

Process Type

The process type tells you how your organization defined the processing rules; you can disregard this field.

Execute

Select for every process that you want to run.