Annual Rate Setup on Standard Rates for Unrestricted Plan
Is it possible to use Annual Rates setup on a Standard Rate attached to an Option in Plan that allows Unrestricted enrollment?
Business requirement is to have an option on 401k plan that automatically enrolls employee in the per-pay-period amount that would bring them to annual maximum of $20,500. Configured a Coverage for the Option in Plan with a Flat Amount of 20500. Then configured Standard Rate with Calculation Rule of "Set Annual Rate Equal to Coverage" and on the "Annual Rates" tab set "Expected Contributions" to "Use Estimate Only"
On subsequent Unrestricted life events, the value of the rate is changing...even though there are no changes to election. It is as-if the Annual Rates functionality is not working and not taking into account the YTD contribution.