The Retirement Analysis Kit

TRAK is a vivid retirement illustration software tool for working with participants, whether working one-on-one or with groups (by importing data and creating batch reports). TRAK provides a variety of vivid illustrations for retirement needs, enrollment or other related items. If it is you and the participant, or you and a group of 1,000 participants, TRAK provides retirement illustration tools for educating them in terms they understand. Quickly. Clearly. Show your prospect instantly what used to take 30 minutes to explain. Make abstract ideas concrete.

TRAK helps motivate your client—making the decisions that allow you to close the sale. Building trust between you and the prospect. Building sales.

TRAK is available in four versions:

1. TRAK-Gap Analysis
2. TRAK-403(b)
3. TRAK-401(k)
4. TRAK-Deluxe

Click here to view a comparison between the various versions of TRAK.

The TRAK feature list includes:

• Batch Processing allows for creating customized reports for a group after importing census data. (Census data may be quickly imported using TRAK's Import Wizard). Then TRAK's Batch Processing tool may be used to create reports for each individual in the group, either for enrollment or re-enrollment (typically the Batch Paycheck report) or review their current situation using the Batch Gap report. (A two page PDF information sheet about the Batch Gap report is available by clicking here).

• Quick Gap (previously called the pension calculator) is a quick analysis of a participants retirement need, current sources of retirement income and shortfall (if any). The Quick Gap calculator includes projections for defined contribution (DC) and defined benefit (DB) plans. Many state retirement systems are built into the software (or can be quickly added), private DB plans can also be added (contact support).

• Gap Analysis extends the Quick Gap calculator, adding long term care (LTC) illustrations, cash value at life expectancy, tiered retirement income, FERS/CSRS illustrations (including FEGLI)... and more features. For a detailed comparison, click here.

• Paycheck Analysis instantly compares a prospect's current paycheck and compares it against other options: what if they contribute more? what effect will that have on the value at retirement? how much will reducing the prospect's pay by a specific dollar amount affect their paycheck? Includes projections and payout illustrations, and moving a federal 1040 return into the qualified plan.

• 1040 Federal Refund Analysis illustrates moving a client's federal 1040 return into a qualified plan without any change in take home pay.

• Pension Maximization Analysis.

• Asset Allocation Questionnaire.

• Hypothetical Accumulation and Account Payout projections.

• 72(t) Calculator.

• Required Minimum Distribution (RMD) Calculator.

• Advantages of Tax Deferral Calculator.

• Split Annuity Calculator.

• Stretch IRA Calculator, graphically illustrating qualified plan (e.g. IRA) money being stretched up to three generations.

• Lump Sum Transfer (Rollover) Calculator

• 90-24 Calculator: Quickly illustrate moving money from a two-tier product, with a surrender fee, into a new product.

• 403(b) & 457 Maximum Allowable Contribution (MAC) Calculator

• Debt Reduction Illustration: Illustrates how moving high interest credit cards and other loans to a 401(k) or 403(b) account may save your clients money.

• Rate of Return calculates the rate of return earned by account that may have irregular contributions.

TRAK has two brand new illustration tools, along with a number of other enhancements.

NEW: Batch Gap Reports

In TRAK-Deluxe and TRAK-401(k), TRAK now includes the ability to print Batch Gap reports, a one page participant report that may be generated from importing census data. The report is designed to be understood by a participant without an advisor. Click here to see an example.

In TRAK-403(b), TRAK-401(k) and TRAK-Deluxe, TRAK now includes a Rate of Return calculator. Enter the initial account value, and then all deposits and withdrawals from an account and TRAK will instantly display the average rate of return of the account.

Paycheck 1040 Bracket Analyzer

The Federal 1040 taxation bracket information is now displayed for better strategic planning of funding both pre-tax and Roth retirement accounts.

Other improvements

• Windows Vista compatibility.
• Update notification feature.
• Improvements to custom branding.
• Importing data improvements.
• Other items. See the "read me" file available here.

Branding Reports

In TRAK-Deluxe, reports may now be branded with a water mark and an image in the top-left or top-right of the report. Click here for a PDF example.

Batch Paycheck Report

A significant number of improvements have been made to the Batch Paycheck reporting tool, including improving a report that looks much nicer, ability to show "Cost to Wait" and much more customizable reports (resulting in shorter reports). Click here to look at an example of the new Batch Paycheck report.

Paycheck

Added lines on the calculation side for both employer matching (if available) and tax savings.

Quick Gap & Gap Analysis

Added a "Savings Solutions" report that prints all of the options available on the Savings Solutions tab (previously known as the "Savings Analysis" tab).

Gap Analysis

Added inflation feature to Lump Sum Distribution items.

More changes detailed in the read me file available here.

Paycheck Calculator

• The calculator now automatically calculates the estimated maximum allowable contribution to the retirement plan — while still allowing the option of viewing the two proposed paychecks. This allows selling from the "top-down" (maximum allowable contribution rather then the "bottom-up" (i.e. their current contribution).

• Entering a value for the Change in Pay prompt changes the take home pay by that value from the current pay. (Prior it had adjusted the selected paycheck by that value, i.e. if the current paycheck already had a -100 value, entering a -200 would change the pay to -300. The new method will change it to -200).

Importing Census Data

• Importing census data is now easier then ever. Significant improvements have been made in the interface and design to make the process easier.

1040 Calculator

• The 1040 Whole Year and Partial Year calculations bring forward the change in take home pay from the active illustration in the paycheck calculator. In other words, if the active illustration in the paycheck calculator had a reduction of pay of $100 when the Paycheck 1040 button is pressed, the Whole Year and Partial Year calculations have the same $100 initial reduction.

Debt Minimizer—new calculator

• The Debt Minimizer is a brand new calculator that illustrates the affects of moving high interest debts (such as credit cards) over to a qualified plan. It allows for the increase value to be moved to the qualified plan, increase in income or for it to be shared between the two.

Quick Gap Calculator

• The Spouse Configuration prompt has been replaced with an Illustration spouse needs check box for clarity.
• The prompts for selecting the Social Security calculation method have been clarified.
• Reports now contain more informative descriptions as to their content.
• The Savings Analysis report now includes comparison of all of the options viewable on the screen.
• There are two new distribution methods for for cash accounts: "Percent of Account" and "RMD Only" (Required Minimum Distribution).
• For defined benefit pension plan option tables, if the beneficiaries age is out of the table range, TRAK will attempt a calculation of it (with a footnote on the report).
• For "Known Income" accounts the client's age can now be used as an ending of the income stream.
• Cash accounts now take RMD into consideration.
• For defined benefit plans, the method for calculating the FAS is now selectable.

Interest Calculator

• The Interest Calculator Present Value interface has been improved, separating it into separate wording of Account Distributions and Loan Payments. While the calculation is the same, the wording is clarified for the client.

Startup Wizard

• A brand new startup wizard will appear the first time TRAK is started that allows for configuring the initial settings of various parts of the software.

Database

• The Database program now allows printing of birthdays, phone and address lists. The lists are filtered and sorted similar to what is seen in the main grid of the Database program.

Miscellaneous

• Default values for new client data can be configured in Setup/System and navigating to Default Values on the left hand side.
• Speed for backups has been improved.
• Others not mentioned here.

Roth Calculator

A new Roth calculator instantly compares making contributions to either a Roth account or a traditional qualified plan. Include the ability to illustrate rolling money from a traditional qualified plan to a Roth account.

Pension

Custom defined contribution pension plans can be created with various types of employer contributions.

A number of user interface improvements have been made including (a) in the ‘Savings Analysis’ tab for selecting between illustrations and (b) the editing of 'Other Accounts' can be done in a card view.

Significant speed improvements in calculation when multiple calculation pages are visible.

With Savings Accounts, distributions from each account can be delayed after retirement.

Pension Max

Life insurance values are now included in the printed reports.

Paycheck Projections

Projection of Roth accounts are now included in accumulation.

Ability to include profit sharing via Custom Pension Plans (see Setup/Custom Pension Plans).

Paycheck

When calculating the Quick-MAC using Solve-It, the mature-saver option can be included.

When annualized qualified plan contributions are calculated to exceed the maximum allowable contribution the contribution value appears with a yellow background.

If the annualized contributions exceed the maximum allowable contribution plus the mature saver catch-up, the value appears with a red background.

Custom defined contribution pension plans (see ‘Pension’) can be selected as an employer play type.

Batch Paycheck

Ability to print graphics in 2-dimensions.

Ability to include existing account balance when looking at future projections.

New report showing a listing of clients and their current retirement contributions.

Asset Allocation

The questionnaire now only shows one question at a time by default. (It can be changes so all questions are visible in Setup/System/Asset Allocation).

Charts now have a "look and feel" feature. Colors for the pension charts can be fully configured.

Paycheck now allows fields to be hidden (such as Summer Pay, Section 125, State Taxes). See the Employer file or right click over the Paycheck calculator.

Load time of application was improved

Pension calculator's Retirement Years screen shows both a grid and chart on tab pages (was available via a pappy menu) and the grid hides the spouse columns when they are not relevant.

Asset Allocation questionnaire interface totally reworked.
Split Annuity calculator now allows for Split Annuity

Products with manual annuity rates.

In the Pension calculator, if the retirement plan has any notes to display and the screen size is sufficient, the notes will appear at the bottom of the 'Overview tab. If there are notes but there is not sufficient room, a 'Notes' button will appear (similar to before).

Paycheck Roth accounts for 403(b) and 457.
In the Pension Calculator, Defined Contribution accounts no longer require separate entries for employee and employer balances and rates (except for Oregon PERS plans).

In the MEA calculator, the type of employer (i.e. if it is a non-profit organization) is entered in the MEA calculator, not the Employer editor