Contribution Definitions
The Contributions topic of a Benefit Promise allows you to define employee and employer contributions. If any contributions are included, the present value of future contributions will be included as an output item. This is commonly used for Pensionkassen results. Including contributions will have no effect on liabilities, but the expected employee contribution in the valuation year will be subtracted from the normal costs (except for the Teilwert normal cost, which will remain the same).
Name is a text field in which to enter a description of the contribution. This may be any descriptive phrase, including spaces.
Enter a formula by which Contributions for each year are determined using accrual basis components. For example, if contributions are 2% of pay each year, the formula would be #SALARY * 0.02. Accrual Basis Components and Custom Operators, rather than just ordinals and accrual basis operators, can be used for more complex situations such as contributions that vary based on service or location or that use a custom Salary Definition.
Check the box Calculate projected balance to indicate that the projected contribution balance should be calculated at each future valuation date. This balance is not available as an output item, but can be seen in sample life reports.
If calculating the projected balance, you must enter the Balance at the valuation date. Select either "<zero>", "<expected value>" or a database field name from the list of numeric fields unhidden in the current Project. If you select a field name, the field should contain the value of the contributions accumulated with interest to the Valuation Date.
If some active records (e.g., a plant location or division) are ineligible for the Contribution Definition, enter a Selection Expression (i.e., a database expression that selects records according to the values in a database field or fields) to specify for which records this Contributions library entry is applicable. Alternatively, you may retrieve a Selection Expression previously saved under the Selection Expression command of the Database menu. Only records that meet the selection criteria of the database expression will have contributions calculated under this formula. If the Selection Expression is blank, all records are considered eligible for this contribution.