Update Variable Excess/Deficiency Balance

1. Enter your January 1 Variable money purchase balance from your last annual Statement of Benefits (Section 9, Money Purchase Balance). Do not enter the Total Balance from the right column, because that amount includes the Core money purchase balance.      
 
2. Enter the dollar amount of the Variable excess or deficiency balance from the Statement of Benefits (Section 8, Formula Benefit Data). $     Is this amount an Excess or a Deficiency?
Excess Deficiency
 
 
3. Enter an estimated* Core effective interest rate for the year in which the Statement of Benefits was issued. Example: If your last Statement is dated January 1, 2008, enter an estimated Core effective rate for 2008.* Note: Enter the rate to one decimal, such as 5.6%. % Is this rate a Gain or a Loss?
Gain Loss
 
 
4. Enter an estimated* Variable effective interest rate for the year in which the Statement of Benefits was issued. Example: If your last Statement is dated January 1, 2008, enter an estimated Variable effective rate for 2008.* Note: Enter the rate as a whole number, such as 7%.      % Is this rate a Gain or a Loss?
Gain Loss
 
 
* Exception: If you already know the actual Core and Variable effective interest rates, enter the actual rates instead of estimated rates. The effective rates are usually announced by the end of February each year.