Eligibility fast formula

Hi

we need to create a fast formula to create an eligibility rule for goal plan and performance document assignment.
The fast formula is based on a custom section created on the ‘Additional Person Info’ page. Within this section, there is a text field with a value list. Based on the value of the LOV, the fast formula must return the eligibility.

I created this fast formula: 
DEFAULT FOR PER_PERSON_EIT_EFF_USER_CRI_ELE_CRI_ELE IS 'N'
ELIGIBLE = 'N'
IF (PER_PERSON_EIT_EFF_USER_CRI_ELE_CRI_ELE = 'PER_DIP')               
         THEN
                   (ELIGIBLE = 'Y')
RETURN ELIGIBLE

When creating, I selected the following fast formula type: Participation and Rate Eligibility