| FAQ 1037: Non Elective YOS allocation not calculating correctly |
The Nonelective contribution is not calculating correctly. Allocation has historically been calculated in excel. I have loaded the YOS to the participant level based on last year’s calc. Eligibility is two year of service based on hire date. Accrual requirement is Active at PYE, 1,000 hours DDR. Allocation compensation is in the Override Test comp field.
Contribution Formula Table setup = 010053.
Formula = YOS
Under 2 years = 0
2 to 4 = 1%
5 to 9 = 1.5%
10 = 2%
https://csc.asc-net.com/csc/asc_client/emailAttachments/62810272017 30300 PM.zip
I hope all is well.
Here are the screenshot coding for the YOS table you want to create from Table Maintenance.
Once you create the new table be sure to Reload Tables for the new table in Plan Specifications (File - Reload Tables), code the new table in Source #3 and run Valuation calculations.
Let me know if you have any quesitons.