FAQ 568: PLANSPEC--Normal retirement shows NRA 66 not 65

Problem: I am attaching a copy of the plan specs for retirement age setup. Every time I run valuation it makes the retirement age 66 instead of 65. Do you know why?

Solution: The system's default for age illustrations is "Age Nearest". If a participant attains age 65 in the first half of a calendar year plan, the report may show him or her as age 66 on a 12/31 report. To change this, go to Projection Assumptions (PROJECT) screen in the plan and change the Illustration Age field to "1-Age Last Birthday". Then the next time that you run calculations or print reports, the attained age as of the Valuation Date should be used.