|
New Features in The Retirement Analysis Kit |
|
|
|
|
New Features in The Retirement Analysis Kit |
|
|
New Features in The Retirement Analysis Kit
|
New Features in The Retirement Analysis Kit |
|
|
|
|
New Features in The Retirement Analysis Kit |
|
|
There are a significant number of new features in TRAK. Below is a summary. (More detail is available in the Readme.txt file found in the application directory.)
A pension plan overview report is now available for printing out with most of the public DB pension plans in the Quick Gap and Gap Analysis calculators.
TRAK now includes over 450 public pension plans from across the country that can be used in our Quick Gap and Gap Analysis calculators. We work hard at including options within the pension plans, including cash balance options (viz. DROP, PLOP, PLS, etc) and matching the cost of living models specified in plan documents.
The client import tool now provides a log for viewing after the data has been imported.
General user interface improvements have been made in various TRAK calculators.
The withholding and 1040 tax tables have been updated for 2012.
Paycheck, Projection and 1040
Most of the user-interface has been updated for easier use. Features include:
•Can hide details on withholding taxes;
•Not all paychecks have to be shown;
•Local taxes and pension contributions can be named;
•Animation between tools;
•Easier to work with spouse's income;
•and many, many more improvements.
Quick Gap
Now supports working with Roth accounts or custom DC retirement plans.
Gap Analysis and Quick Gap
Added pension plan overview report for many state defined benefit plans.
Gap Analysis and Quick Gap
Updated many pension plans. Added a number of cash balance options to state defined benefit pension plans.
Quick Gap
Reworked user interface, specifically the data input fields.
Gap Analysis
For most defined benefit plans, the retirement COLA can be overridden.
For the federal retirement plans:
Added three reports for the Federal Thrift Savings Plan (TSP) account.
Added calculation page for getting details on the TSP account.
Quick Gap
Redesigned the input on the left side of the screen to work with smaller screens.
Gap Analysis and Quick Gap
The horizontal labels in the Retirement Years chart can now appear red if a shortfall occurs during the calendar year.
Many updates and additions to various retirement plans.
Custom Retirement Plans
"Years of Service Percent Matching" was added for the employer tiered matching options.
Employer file
FICA and Medicare rates now have system default values that can be configured in Setup/System/Employer and overridden in an employer file.
Batch Gap
The Batch Gap report can now include values for the Roth account.
Batch Paycheck (Contribution Analysis)
The Batch Paycheck allows contribution values entered to be relative to the current contribution.
Printing
Specific reports can have customized printer settings.
Gap Analysis
Updated the Federal Long Term Care Insurance calculations.
Quick Gap and Gap Analysis
The Quick Gap and Gap Analysis calculators now include the accumulation values.
Allow for removing solution illustrations from the Retirement Solutions report.
Added the Windfall Elimination Provision option for calculating Social Security.
Roth Conversion
New Roth Conversion calculator for effectively illustrating a Roth conversion.
Tax Deferral
Allow for Roth accounts, and only showing the type of accounts that are required.
A new Multi-Tier Annuity calculator has been added to TRAK.
The Print Dialog now supports default report selection and the report order may be configured.
Scenarios can automatically be altered when illustrations are over funded (e.g. the participant's retirement age can be reduced) or have significant increases in contribution that are not realistic (e.g. retirement age can be increased).
The calculations in the Quick Gap and Gap Analysis calculators have speed improvements when working with certain retirement plans (specifically, plans with custom prompts and/or custom scripting).
A brand new College Funding calculator has been added to TRAK.
The Gap Analysis and Quick Gap tools now have greater flexibility when working with limits for qualified plan contribution.
Multiple client reports can be printed to a single file.
The Federal LTC rates can now be illustrated in TRAK's Gap Analysis calculator.
Future contributions values to cash balance accounts (except the retirement plan in the Quick Gap calculator) can be changed for future years.
Values for Social Security can be entered in today's dollar or the value at retirement.
Total current account balances and hypothetical retirement account balances are displayed.
The various charts for the Gap Analysis charts have color themes.
Historical data for the TSP account can now be viewed.
Roth accounts can be part of the client's retirement account.
Employer matching contributions to include a Roth account.
With the Tax Wise Distribution Strategy, Pre-tax account balances can be transferred to after-tax accounts.
The editors for the "Other Accounts" was fully re-written for easier use.
Significant improvements to the "Other Accounts" editors.
State withholding taxes can be rounded.
All previewed and printed reports are automatically printed to the client's report archive file.
There is no need to worry about the security of client data on your hard drive. TRAK-Deluxe now includes data encryption. An encrypted database can not be viewed without a password. Click here for more information.
The reports for the Paycheck, 1040, and Paycheck Projection calculators have been fully re-written with enhanced visual appeal.
The Paycheck Projection calculator now allows for quickly changing the rates of return and contribution values for a quick analysis on how it affects the accumulation and distribution of the retirement account. Click here for more information.
When importing data, if the record exists, only selectable fields are updated.
Colors of the grid printed in reports may be configured in the Report Configuration editor.
The Database program now allows for displaying last updated, retirement age & date, and years to retirement for the client and spouse. This information may be filtered.
List of clients may be filtered by group.
Social Security can now be set to a percent of the calculated value.
With the Federal TSP plan, allocation may be made to different Life Cycle funds. Contributions may also be entered as a dollar value.
The distribution order of accounts may be configured.
There have been added a number of features for distributions of accounts. These include the ability to prioritize accounts for distribution, thus allowing access to funds that have restricted distribution methods (e.g. amortized monies).
Added the ability to calculate the account balance for a needed income stream.
Data may be exported by right clicking over the grid and selecting the appropriate action.