The Benefits tab allows users to view and edit the benefits payable for the selected optional benefit.

• Benefit Payable on Payment Start Date: allows user to define the annual amount payable on payment start date for annuities (or lump sum value if lump sum).
  
  
  • Function of Benefit at ACD: choose this if the amount in the formula box is a conversion factor to be applied to the normal form of benefit payable at Payment Start Date for annuities (or Normal Retirement Date for lump sums).
  • Separate Benefit Formula: choose this if the amount in the formula box is the amount payable on Payment Start Date for this optional form of payment.
  • Same as Benefit at ACD: choose this if the optional form of payment has the same initial benefit as the normal form of benefit payable at Payment Start Date.
• Benefit Payable: allows user to define the annual amount payable in three different scenarios during payment - While Only Beneficiary is Alive, While Only Participant is Alive, and While Both Participant and Beneficiary are Alive.
  
  
  • Function of Initial Benefit: choose this if the amount in the formula box is a fraction to be applied to the Benefit Payable on Payment Start Date.
  • Separate Benefit Formula: choose this if the amount in the formula box is the amount payable in the scenario, as opposed to a percentage of the initial benefit.
  • Same as Initial Benefit: choose this if the benefit payable in the scenario is equal to the initial benefit.

• Item Detail - Basic Tab
• Item Detail - Values Tab