LTD Rate calculation wrong

Summary:

We have LTD Plan where the rate calculation is based on the monthly compensation, with a limit as 8333 (setup in the Compensation factor)
The multiplier is 0.137/100. So the calculation in the case of maximum compensation should be (83330.137)/100 = 11.416 = 11.42
Bu the calculation for an employee whose monthly compensation is greater thann 8333 is as below.
Compensation = 4005 Biweekly.
Monthly = (400526)/12 = 8677.5
Rate calculation should be
(8333*0.137)/100 = 11.416 = 11.42
But system calculated LTD as below
8677.5 *0.137 /100 = 11.89
Could not figure out why the compensation is not limiting to 8333 for rate calculation.
Any help is highly appreciated.
Here is the setup of Rate

Thanks

Vijay