2010 regulatory data will not be released for use with prior versions.
In the past, WinTech has released updates of regulatory data for the benefit of clients who are not using the current version of ProVal or ProAdmin Desktop. However, there is an issue with the 2010 regulatory data and therefore it will not be released for use with prior versions.
We encourage you to use the most recent version of ProVal and ProAdmin Desktop, which include 2010 regulatory data. If you choose to use previous versions and need 2010 regulatory data, enter overrides to historical regulatory data (e.g., in ProVal’s Valuation Assumptions). Do not update the regulatory data files (Reg*.txt) beyond 2009.
The issue with 2010 regulatory data stems from the fact that 2009 Social Security CPI was zero for the first time. The Social Security Wage Base is only increased (in proportion to National Average Wage increases) if Social Security CPI is non-zero in the previous year (see www.ssa.gov/oact/cola/cbbdet.html and http://www.ssa.gov/OP_Home/ssact/title02/0230.htm). Thus, the 2010 Social Security Wage Base is the same as the 2009 Social Security Wage Base, despite the increase in National Average Wages from 2007 to 2008. Previous versions of ProVal and ProAdmin Desktop did not reflect this exception when determining the anchor point (the unrounded wage base) for projecting wage bases. This affected Valuations, Core Projections, and the PIA Calculations tool in ProVal; it affected only the PIA Calculations tool in ProAdmin Desktop.
If you have questions regarding this issue, please contact us at support@winklevoss.com or call (203) 861-5540.
|
Printer View