Enhancement for InterestRateCalculation Rule with Guaranteed
This enhancement provides a way to indicate if the Guaranteed Interest Rate should be less than or greater than the Current Interest Rate.
Prerequisites
Plan must offer a guaranteed fund.
New Items
- Guaranteed Rate Lower fund - Functional Prototype Plan.
- InterestRateCalculationBR/Guaranteed Rate Lower Fund override.
Changes to Existing Items
- Interest Rate Calc Fund 5 - no changes, but proves default when Guarantee element is present without the USERATE attribute; the higher rate is used.
- Interest Rate Calc Fund 7 - added USERATE="Higher"
Configuration Details
- Guaranteed Rate - USERATE='Lower'
- Added a new fund to Prototype/Functional Prototype Plan called Guaranteed Rate Lower; the InterestRateCalculation fund attached to this fund will use the Guaranteed Element with the USERATE="Lower" attribute. This rule is configured with a Static current rate of 4% and a Guaranteed interest rate of 3.5%. Since the USERATE attribute is set to lower; any activity that uses this fund will use the 3.5% interest rate.
- Guaranteed Rate - USERATE='Higher'
- The existing fund Interest Rate Calc Fund 7 (under the Prototype/Functional Prototype Plan) has been updated to include the new attribute USERATE set to "Higher". The fund previously included the Guaranteed tag so the higher of the Guaranteed and Static funds will be used. This new configuration should result in no changes to the current expected fund behavior
- Guaranteed Rate - No attribute configured
- The existing fund Interest Rate Calc Fund 5 (under the Prototype/Functional Prototype Plan) configuration will not be changed; the current configuration showcases the default Guarantee interest rate behavior. If the Guaranteed element is present but no USERATE attribute is configured; the higher of the current and guaranteed interest rate will be used.