humble...I've been trying for about two days without success to use a Datepart function to extract the month and date of an effective year and calculate an anniversary date based on the current year if the effective date has been more than 365 days. You inadvertantly answered my question with your response and this code works well. Here's my expression:
Anniversary_Date: IIf(DateDiff("d",Date(),[Effective_Date])<-365,Format([Effective_Date],"mm/dd") & "/" & Format(Date(),"yyyy"),[Effective_Date])
Hopefully this may inadvertantly help someone else who might be trying to accoplish the same feat.