Age Reduction for Life Insurance working for some plan types & not others - Calculated Base amount
We have 3 plan types that have Age Reductions on the corresponding Coverage Formula Table which reduces the coverage by 35% when the EE reaches Age 65 & by 50% when the EE reaches age 70.
The plan types include:
- PT 23 - Basic Life and AD&D
- PT 21 - Supplemental/Optional Life
- PT 25 - Dependent Life
The "Calculated Base" on the Paycheck Deduction tab reflects correct amounts for Basic Life plan and the Supp Life plan but is incorrect for Dependent Life plan.
Example: EE is age 71 and has a base salary of 80,000. His Basic Life is reduced by 50% and his Calculated Base reflects $40,000 which is correct.