Plan Definitions - German mode

Benefits for active and terminated vested participants are determined by the Plan Definition. The Plan Definition is simply a collection of Benefit Promises, where Benefit Promises are collections of individual benefits payable under various contingencies.

Plan name is a text field for the name of the plan for which benefits are defined.

Benefit Promises lists the Benefit Promises included in this Plan Definition. You can expand a Benefit Promise to reveal its referenced Benefit Definitions, along with its benefit formula and the referenced Benefit Formula Components.

To create a new Benefit Promise and add it to this Plan Definition, click the New button.
To edit an existing Benefit Promise, double-click the Benefit Promise, or select it and click the Edit button. You can also edit Benefit Definitions and Benefit Formula Components in a similar manner.
To add or omit existing Benefit Promises, click the Add/Omit button. Check any Benefit Promises to include in the plan and uncheck any Benefit Promises you wish to omit from the plan.
To compare Benefit Promises, select two or more and click the Compare button. You can also compare selected Benefit Definitions and Benefit Formula Components in a similar manner.
To modify Tags for Benefit Promises, select one or more Benefit Promises and click the Tags button. You can also modify Tags for Benefit Definitions and Benefit Formula Components in a similar manner.
To customize which Benefit Definition details are shown, click the Columns & Rows button and then choose Benefit details. You can also customize which Benefit Formula Component details are shown in a similar manner.
See Benefit Promises for more information.

Promises Map lets you value Benefit Promises only for specified database codes. See Map database codes to Benefit Promises for details.

Legal Vesting Service allows you to define the service used for all benefits in Benefit Promises of the Pension type that are included in this Plan Definition (vesting does not apply to Benefit Promises of the Jubilee type) and to specify how the PSVaG Legal Vesting Calculation will be done for different participants.

Legal Vesting Service may be defined by specifying a database Field or a Service Definition, to indicate when legal vesting service commences (if a date field is selected) or the amount of legal vesting service the participant has as of the valuation date (if a numeric field is selected). Alternatively, selecting “<date of hire>” as the field indicates that, depending on the database record’s ProVal status, the date of hire field specified (for active participants) under the Active Data topic of the Census Specifications is to be used or that the date of hire field specified (for terminated vested participants) under the Terminated Vested Data topic of the Census Specifications is to be used. The vesting service defined here will be used for all vesting, whether legal or contractual. Specifically, it will determine the numerator and denominator of the pro rata temporis fraction and determine vesting eligibility. Select the legal vesting service from among the database fields and Service Definitions unhidden in the current Project. The button accesses the Service Definition library, allowing you to modify an existing Service Definition or create a new one.

The calculation of PSVaG legal vesting will be done for all actives and terminated vested participants run through the plan definition if you choose Calculate for all participants or can be specified by different groups of records, as identified by values of a coded database field (e.g., Status) on each record by selecting Calculate by coded database field. Select the Coded Database Field, and for each Database Code, choose the applicable calculation from the three options:

non-vested: ProVal will treat these participants as non-vested for PSVaG purposes and they will not have any vested PSVaG liabilities.
vested: ProVal will treat these participants as vested for PSVaG purposes and they will not have any service calculations done and their PSVaG liabilities will be vested.
calculate: ProVal will calculate these participants' service to determine if they are vested for PSVaG purposes and if they have vested PSVaG liabilities.

The resulting PSVaG legal vesting status can be output for each participant as an individual result using the variable zPSVaG_Status. Note that you must set Actuarial Retirement Age on the Other Valuation Parameters topic of Valuation Assumptions to output zPSVaG_Status. If this variable is selected, the contents of the Output database field will be based on the following mapping:

not vested	0
active vested	1
vested term	2
pensioner (including technical pensioners*)	3

* Active and Terminated Vested participants who are at or over actuarial retirement age are considered technical pensioners.

Plan Attributes - final average salary methodology, and frequency and timing of benefit payments

Plan Constants - values for plan constants used in building the plan definition