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Front Loaded accrual question involving length of service
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Hi All,
Can someone confirm if my understanding is correct that if we have a Front Loaded accrual plan which has a term of Calendar Year (1st Jan) and which is based on length of service, that whatever the length of service is on 1st Jan that is what will determine the accrual amount for the whole year? If someone reaches a length of service milestone part way through the year, that will not alter the accrual amount and will only increment on the next 1st Jan.
(I know it could be done through derived factors to look at the end of the plan year to assess length of service but that is still a once a year only view).
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