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#1
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Did I miss something, or was this pretty straightforward? The only thing I can think of is that:
DOH = 1/1/2001 DOT = 1/1/2006 What was the DOP? I used contributions from hire. I believe the DOP was 1/1/2000, but now that I'm second guessing myself, I'm thinking that it was 1/1/2002. Any thoughts? |
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#2
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I think he had 5 years of contributions accumulated. Now that you mention it, I'm not so sure when participation began. If he had 5 years of contributions, then it was a straightforward mandatory contribution question.
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Defending Champion of AO Survivor Fantasy Football! The Dingo ate your baby. |
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#3
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This one seemed right down central.
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This is the easiest task I've ever had to do. . . . |
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#4
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That's what has me concerned. Wasn't this a 5 point question?
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#5
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I think I applied the 60% vesting to the ER DB benefit prior to subtraction of the mandator EE contribs, which I hear is wrong.....right?
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#6
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Unfortunately, that is incorrect. You take the difference between the ER benefit and EE contrib value, and then take 60% of that.
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#7
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i did it the other way because it seems to me like the value of the benefit could be less than the ee contribs w/ int. let a= DB benefit and b = EE contribs conveted to DB benefit. ( a -b ) * .6 could be less than b, right? and isn't the benefit always at least as large as b? i guess that is why i did (.6 * a) - b...since you are 100% vested in b.
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#8
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Slapshot, I'm not sure I follow your logic, but if a > b, you do what Racquetball said.
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This is the easiest task I've ever had to do. . . . |
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#9
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My mind is definitely too clouded over. I feel like I recall that to calculate the er portion of the accrued benefit due to the mandatory contributions, you use the applicable lump sum rate from the lookback year but they only offered a lump sum rate from this year. I somehow was not applying what I learned from an earlier exam's problem comparing 12/31 to 1/1 correctly.
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#10
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Its definitely (Total DB Ben - EE Contrib Ben) * Vest %
I think the trick was, do you use age 65 EE Contrib Ben, or do you discount it back to the age it is being paid out at? I think I said its age 65 EE Contrib Ben. |
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