VM-22 requires a new process for defining valuation interest rates and is effective for issues beginning 1/1/2018. PolySystems made the following enhancements to the IncomePay screen system and calculation engine to support this new requirement:
- New fields on the NAR and PDH to look up the correct interest rate.
- New assumption tables in the screen system to define both the VM-22 interest rates and when they should be used.
- New fields on the Output Reporting File (POL) to report the VM-22 rate used in the calculations.
Contact your PolySystems support actuary or Jackie Smith for more information about PolySystems support for VM-22.