Snap Constraint to Bone affects rotation but not position

The Snap Constraint to Bone button seems to only rotate and change the limits on a constraint instead of also moving the constraint to the bone's location.

1. Create a new project based off of the Third Person template
2. Open the Mannequin's physics asset
3. Change to "Constraint" mode
4. Select the Constraint on the Mannequin's shoulder
5. Move the constraint away from it's current position
6. Press the "Snap" button on the toolbar
   Result: The bounds of the constraint change and it rotates, but its location is unaffected and it is not moved back toward the bone.