Age Change Event getting detected as of 01/01/2021

Summary:We are trying to trigger Age change as of the employee turning 35,40,45 ... at every age difference of 5 years till 70.

If an employee turns 55 as of 09/30/2021 the event is getting detected as of 01/01/2021.

We are using the seeded Age Change event with the below set up.

Content (required):Could you please let us know why is the event not getting detected as of the event date.

We also tried keeping the Event occurred date as "As of Event Date" but still the same issue, event gets detected as of 01/01/2021.

Not sure why the system is taking 01/01/2021.All the derived factors are set correctly.