Latest news from Lynchval.

LVVal - Corrected Traditional Unit Credit forecasting for both closed and open groups. Forecasts now preserve detailed benefit accruals and adjustments at each exit age so normal costs align with accrued liabilities, and revalue cash flows for each forecast year when using yield curve assumptions.

LVMed - Added a screen option to set surviving spouse medical contributions equal to either the joint spouse rate or the participant rate for the same age, simplifying configuration that previously typically required EPP code.

LVAdmin - Updated system-calculated cash balance pay credits to stop at termination rather than the Activity Date. Corrected Relative Value calculations to use the same ages as optional form conversion factors and resolved an issue with the setting that controls comparisons using the Normal Form of payment.

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LVVal - Added rate table lookup by name to simplify decrement selection, with both table names and JASCO numbers displayed for easier verification. Corrected switch copying to prevent settings from previously deleted switches from carrying over into newly copied switches.

LVMed - Added family annual benefit caps and annual cap trending, plus an option to export valuation results, projections, plan information, and sample life details to Excel for easier review and reporting. Simplified medical plan design screens by removing deductible, coinsurance, and out-of-pocket limit fields.

LVAdmin - Corrected Normal Form Section 415 limits for inactive benefit calculations and late retirement indicators for annual increase plans. Improved Payment Override Date handling for more consistent results across LVIndiv and LVBatch processing modes. Calculation processing through objects now saves contribution period results to the database.

LVVal - Improved report formatting and updated non-active lump sum conversions to include JCERT. Corrected Section 415 limit projections for ABO and Traditional Unit Credit calculations, resolved zero ABO and accrued liability results for certain combinations of cash balance and other benefits, and corrected COLA application for non-active participants with multiple benefits.

LVMed - Added options for mid-year eligibility testing and mid-year medical and life insurance claims payments. Expanded database output with plan setup information and more detailed valuation results, including breakdowns for covered terminated participants, spouses, and dependent children. Added inactive participant age-group summaries, improved report formatting, and included spouse date of birth in kickout listings to simplify troubleshooting.

LVAdmin - Corrected Normal Form Section 415 limits for annual increase plans and interest calculations on accumulated contributions for non-calendar plan years. Calculation processing through objects now saves service period results to the database.

LVVal - Improved report readability with comma separators throughout output displays, wider columns, and clearer column headings. Updated lump sum conversions for non-active participants to include JCERT as part of the source annuity form when calculating conversion factors.

LVMed - Improved report readability with comma separators in Average Earnings and Age/Service Scatter displays, plus updated layouts consistent with LVVal. Added spouse date of birth (DOB2) to the kickout listing to help identify records rejected due to invalid spouse birth dates.