Pension Tab/Additional Life Insurance Amts - Allow for a Reduction due to the age of the employee
The Additional Life Insurance Amount on the Pension Tab only has 2 options, 15K and 7K. As an employee ages, the amount is reduced. [age 65 (65%), 70 (50%) and 75 (35%)]. It does not appear that the system has the ability to allow for this when it calculates the GTL. We either need more options in the levels of coverage as there are only 3 options in the GTL Rates Maintenance or the GTL calculation automatically should consider the employee's age when it pulls this field into the calculation and reduce the amount of coverage.