PENSIONSOFT CHANGE LOG
PENSIONSOFT RESOURCE LINKS
2020 DB PRECISION UPDATES
Current Beta Version

• Valuation Data Request: when creating the data request for participants that have contributions due and where balance amounts are dynamically calculated, now shows the "as of date" equal to the data request date.

• Account Provision: adds additional new methods for determining interest accumulation periods and now applies this determination methodology to partial period reductions when using the fractional interest rule.

• Non-taxable Contributions and Lump Sums: now correctly displays the non-taxable portion of lump sum payment amounts in the optional benefit display when a portion of the lump sum amount is non-taxable (previously showed a non-taxable amount of $0 for lump sum options).

• Benefits on Person Worksheet: includes new option to display benefits on Person Worksheets as monthly amounts within the portal.

• System Exports: corrects problem with last release that could cause selections of Derived Dates or Formula Derived Items as dates on the Export Screen to become invalid if a corresponding plan item was deleted.

• Grandfathered 401(a)(17) Limits: adds ability to specify that an Average Earnings Provision should use the pre-OBRA 93 compensation limits (for governmental plans that did not change to Post-OBRA 93 amounts).

• Function of Service Detail: when exporting service detail amounts, service that is displayed now reflects service caps that are defined using year limits on rates.

• Annuity Purchases: includes new date for benefit payments to identify annuity purchases and displays them separately on the lifecount reconciliation.

• 415(b) Service Overrides: adds ability to specify Formula Derived Items that then serve as service overrides for 415(b) limit determination.

• Average Earnings Reported Amount Copy/Paste: fixes issue where not all details would be copied when copying and pasting an Avergae Earnings Reported Amount.

• Late Retirement Accumulation Method: no longer forces users to set calculation date to be less than or equal to NRD to get the accumulation to grow from NRD.

• Portal Benefit Summary and Formula Derived Items: now sets small benefit cashout date used in calculations of benefit summary and formula derived items to be equal to ACD rather than current date.

• Possible Duplicate People: adds detail to display additional results.

• Ineligible Status Display on Portal: allows users to display ineligible participants as ineligible rather than active on portal listings.

Version 2019.20.2.6 - Released 02/06/2020

• Multiple Core Processing and Optimization: changes the way that exports and snapshots are processed for improved processing speed.

• Reported Amount Deletion: includes new tool that simplifies the deletion of Reported Amounts.

• PPA Funding Status: adds ability to automatically restrict lump sum payments based upon the funded status of the plan (as indicated on the Plan Document Dates screen).

• Reported Amount Definition Portal Access: now provides two separate settings for Participants and Sponsor Contacts, allowing System Users to specify separate access for each user type.

• Import Item Additional Identifier Default Values: allows users to specify default values for Reported Amount additional identifiers.

• Reported Amount Item Imports for Amounts with Additional Identifiers: adds new option to always add new Reported Amounts to a Person by automatically increasing one of the additional identifiers rather than replace a matching Reported Amount if an exact match is found.

• Worktrack Request Restriction: adds ability to restrict which participants can initiate a Worktrack Request based upon status code (previously, users could only restrict based upon location code Reported Amounts).

• Comments when Completing/Authorizing Tasks: includes comments that are added during task completion/authorization in the email that is sent.

• Partial Lump Sum Distributions: includes new optional benefit payment form indicator that can be used to indicate which options should reflect a split between partial lump sum and annuity.

• Employee-paid Benefit: includes new option to not treat an employee-paid benefit as a minimum for accrued benefit calculation.

• GETCAFRACTION Function: includes new function that returns the benefit fraction for the specified conversion factor.

• New Elapsed Time Service Method: adds new method for calculating elapsed time service, No Borrowing (365.25)

• Account Provision: adds new option to apply partial period fraction to the interest rate rather than the period when assuming transactions occur some fraction from the end of the year.

• Account Provision: adds new method for determining interest accumulation periods that uses differences in days rather than a service-style calculation of differences in months and days.

• Exports and Archive Creation: includes new settings for specifying document type and portal access for running exports.

• Export Provision Screen: items may now be reordered using drag-and-drop.

• Person Notes: users can now indicate which Person Notes should be viewable the portal by participants and/or Sponsor Contacts.

• Valuation Snapshots: now allows users to select which snapshot to replace when a snapshot with the same effective already exists (previously always replaced run 1).

• Valuation Extract Filename: now includes both month and day of the valuation date in the default extract file name when running a snapshot (previously only included year).

• Custom User-Defined Variables: expands the number of user-defined variables (USERVALUE1 for example) from 3 to 10.

• 2021 417(e) Floating Mortality Table Support: includes support for 2021 417(e) mortality for when the floating 417(e) basis is chosen and where the measurement date is on or after the 2021 year.

• Portal Summary: includes support for "as of" dates in portal's benefit summary display.

• Sponsor Opened Read-only: fixes display issue where a sponsor opened read-only would display as if it had been opened with write access after a user opened the Sponsor Basic Information screen (even if it was still read-only).

• Alternate Status Determination: corrects issue when using service accrual based termination dates where a participant could incorrectly be treated as 100% vested after normal retirement date.

• Emails Sent through Portal: corrects problem which could cause the Internet Controller to be unable to send emails on task on/off hold or when adding comments to a task.

• Server Data Transfer: fixes issue where Sponsor Task Definition information was not being transferred when transmitting data between servers (Data - Transfer on the main ribbon).

• GETCA SSN, Sex, Type, DOB Functions: improved to return beneficiary information available when a parameter of 0 is passed to the function, even when no default beneficiary is selected.

• Elapsed Time Service - Work (months, days): corrects issue which could cause service to be understated when using this method along with allowing service to accrue through the end of the day.

• 401(a)(17) Limit and Short Service Participants: when using the method to sum all earnings and divide by the earnings period, now includes additional coding to ensure that the compensation limit is applied using 12-month lookback periods working back from termination date.

• Account Calculation Display: corrects account calculation display problem where interest transactions could be displayed prior to hire date.

• Account Interest Rate Rounding and Display: no longer forces user-defined interest rates to be rounded to 4 decimals (similar to handling for user-defined fixed rates) and displays interest rates based upon the number of decimals provided in the plan.

• 1.401(a)(9)-6 CAF Limits: when measuring limits for certain periods and beneficiary fractions under 1.401(a)(9)-6, now limits based upon the age measurement date specified (on the advanced screen) rather than always based upon payment start date (ACD).

• Annuity Factors and Interpolated Mortality Rates: now supports non-integer payment ages for deferred annuity factors.

• Patch 1.01: Portal Settings Screen: corrects issue where user-defined values for items 4-10 on the portal settings screen were not being saved.

• Patch 1.01: System Export: fixes rare instances where a problem with running an export could cause duplicate rows to be created on a subsequent export.

• Patch 1.02: Valuation Snapshot: when changing month or day for Effective Date on the screen to add new valuation snapshots, now correctly also adjusts the file name for those changes.

• Patch 1.03: Export Provision Items: corrects issue that could occur after reordering export items that could prevent saving of the plan document.

• Patch 1.04: 401(a)(17) Limit and Short Service Participants: fixes issue with current release which could result in an understatement of average earnings when using the sum of earnings divided by total period for short-service participants.

• Patch 1.05: Server Explorer and Controller Log: when viewing server explorer and the Interent Controller Log at the same time, corrects issue which could cause the number of items displayed in the log to multiply.

• Patch 1.06: Temporary Annuity Factors: fixes issue with this release that could cause a problem when calculating temporary annuity factors.