Does the water level over the winter effect what freezes?

I'm mainly curious about plaster pools in this example. If the water level is left directly at the top of a step and freezes, will it Crack the plaster?

Also if the water level is on the returns will it Crack the plugs?

What I really want to know is, is there an optimal water level to leave the pool at over the winter to minimize potential ice damage or does it not really matter?