Setting for lifetime income annuity RMDs

We have added an option on the client's Settings tab that allows you to have RMDs calculated for lifetime income annuities to be taken from the client's IRA or other qualified annuity. This lets you delay taking any money from the lifetime income annuity until after 70 ½ in order to increase the guaranteed income amount from the annuity.

See more information in the Help Center

Streamlined RMD calculations

For clients with both IRA and qualified annuity accounts, lifetime income withdrawals from annuities will reduce the distribution taken from the client's traditional IRAs or other annuities. This minimizes the distributions taken (and associated taxes) if clients don’t need the money to fund expenses.

Qualified Charitable Distributions

We have added the ability to illustrate Qualified Charitable Distributions (QCDs) from your clients' IRA or inherited IRA accounts. These amounts will reduce clients' RMD obligations and will not be taxed. You can enter a QCD by adding a 'Charitable Giving' expense on the Profile / Expenses screen and specifying the source of the QCD using the 'Type' drop-down box.

Employee Stock Purchase Plan

On the Profile / Savings screen you can specify the amount an employee is using to purchase shares in an Employee Stock Purchase Plan. You can also indicate if the employee is purchasing shares at a discount. The contributions will be treated as taxable savings.

As part of this change we have rearranged the options under the 'Add Savings' button, you will find the Employee Stock Purchase Plan option by mousing over 'Other'.

HSA / Retirement plan flat dollar match

When entering savings information on the Profile / Savings screen, you can now specify employer contributions to a Health Savings Account (HSA). You can also specify an employer contribution to a 401(k), 403(b), or other retirement plan as a flat dollar amount per year as part of the same card as the employee contribution.

Cash Reserve goal

We’ve launched a new Cash Reserve goal that allows you to keep and track specific amounts in a cash account. This can be used to track an emergency fund, cash needs for upcoming expenditures, or illustrating the value of investing. We have also updated the calculation of the current allocation to exclude bank accounts so that you can manage client cash through the Cash Reserve goal.

Please visit the Help Center for more information on this new feature!

Cash Flow account info by owner

We've added the ability to drill down on the 'Account' tab of the Cash Flows, giving you the ability to see a further breakdown by owner of the client's account balances and net cash flows.

As part of this update, we have also consolidated all annuity accounts under one column on the Accounts screen. You can click through to see the breakdown by tax status of the annuity.

Property Purchase Goals

You can now add goals to illustrate a future purchase of an investment property or vacation home on the Profile > Goals screen. By entering a property goal, you can enter information about the property and associated mortgage. You can also illustrate changes to the purchase year on the Retirement / Analysis screen. See the Help Center for more information.

Please note that this functionality replaces the previous approach of entering future properties on the Profile > Net Worth screen. If you had previously entered a future property, it and any associated mortgage have been converted to a property Goal and you will find it on the Goals screen.

Installment sale for businesses

You can now illustrate sale of a business via installment plan. When entering the business via an 'Other' account on the Profile > Net Worth screen, you can specify sale via installment, including # of years and associated interest rate.

Illustrate extra debt payment scenarios

If you add a card for an extra debt payment on the Profile > Expenses screen, you can now illustrate changes to the amount on the Retirement > Analysis page. Click the 'Edit' button to add the extra debt payment to the Action Items section.