2009R1-General-PlanL.. - Impact

Document Sample
2009R1-General-PlanL.. - Impact Powered By Docstoc
					2009R1 PlanLab Enhancements (Web)
QPDA Removed from Detailed Analysis
Many users have expressed problems with the user experience with QPDA. In the past, the fact finders
have fewer data entry options than QPDA in Detailed Analysis, while Detailed Analysis prompts for
information that is not applicable to QPDA. Now, QPDA has its own user interface that will allow
advisors to gain access to the presentation they need and enter information as quickly as possible.




                                                         2009R1 PlanLab Enhancements       Page 1
2009R1 PlanLab Enhancements (Web)
New Planning Objective: Roth IRA Conversion –Conversion at Death
Qualified Plan Distribution Analysis (QPDA)
Advisors can analyze whether it is better to convert, or to NOT convert a Traditional (Deductible) IRA
into a Roth IRA at the death of the plan participant. Conversions illustrated in 2010 will automatically
spread the income taxes due on the conversion over 2011 and 2012. Data entry allows for a change in
income tax rate, as well as the option to pay taxes with distribution from plan or have taxes paid from
other assets. Advisors will also be able to illustrate using life insurance to pay taxes on conversion.




                                                            2009R1 PlanLab Enhancements         Page 2
2009R1 PlanLab Enhancements (Web)
New Planning Objective: Roth IRA Conversion – Lifetime Conversion
Qualified Plan Distribution Analysis (QPDA)
Advisors can analyze whether it is better to convert, or to NOT convert a Traditional (Deductible) IRA
into a Roth IRA. The presentation allows you to illustrate the conversion next month (immediately) or
anytime thereafter. Conversions illustrated in 2010 will automatically spread the income taxes due on
the conversion over 2011 and 2012. Data entry allows for a change in income tax rate, as well as the
option to pay taxes with distribution from plan or have taxes paid from other assets.




                                                          2009R1 PlanLab Enhancements         Page 3
2009R1 PlanLab Enhancements (Web)
New Planning Objective: Roth IRA Conversion & Stretch
Qualified Plan Distribution Analysis (QPDA)
Maximize wealth for family by continuing the tax-free growth in your Roth IRA plans over multiple
generations. Also illustrate the need for life insurance to provide cash to pay estate taxes and other
transfer costs. Advisors can illustrate stretching an existing Roth IRA, or illustrate a conversion from a
Traditional IRA and then stretch the converted Roth IRA. Conversions illustrated in 2010 will
automatically spread the income taxes due on the conversion over 2011 and 2012. Data entry allows for
a change in income tax rate, as well as the option to pay taxes with distribution from plan or have taxes
paid from other assets. Advisors will also be able to discuss using life insurance to pay taxes on
conversion.




                                                           2009R1 PlanLab Enhancements          Page 4
2009R1 PlanLab Enhancements (Web)
Roth IRA Conversion Transaction
Wealth Distribution (WDA) PlanFacts
Illustrate conversion of
existing IRA or employer
sponsored salary reduction
plan to a Roth IRA as part of
the “Proposed Scenario”
from the WDA PlanFacts fact
finder. Advisors can choose
to convert on a scheduled
event or on a specific date.
Conversions illustrated in
2010 will automatically
spread the income taxes due
on the conversion over 2011 and 2012. If conversion is “At Death”, a Spousal Rollover is implied before
the conversion by the spouse. The WDA presentation will illustrate the effects of the conversion
considering full cash flow and will include Resource Pages discussing IRA and Roth IRA differences and
issues regarding Conversions. The Conversion would show up in the “Transactions” section of the
Detailed Analysis data entry after the client was promoted.


Roth IRA Conversion Transaction
Quick Estate (ETA) PlanFacts
Illustrate conversion of
existing IRA or employer
sponsored salary reduction
plan to a Roth IRA as part of
the “Proposed Scenario”
from the Quick Estate (ETA)
PlanFacts fact finder.
Advisors can choose to
convert on a scheduled
event or on a specific date.
Conversions illustrated in
2010 will automatically
spread the income taxes due on the conversion over 2011 and 2012. If conversion is “At Death”, a
Spousal Rollover is implied before the conversion by the spouse. The ETA presentation will illustrate the
effects of the conversion considering full cash flow and will include Resource Pages discussing IRA and
Roth IRA differences and issues regarding Conversions. The Conversion would show up in the
“Transactions” section of the Detailed Analysis data entry after the client was promoted.



Roth IRA Conversion Transaction
Detailed Analysis Data Entry
Illustrate conversion of existing IRA or employer sponsored salary reduction plan to a Roth IRA as part of
the “Proposed Scenario” from the Detailed Analysis data entry. Advisors can choose to convert on a


                                                           2009R1 PlanLab Enhancements          Page 5
2009R1 PlanLab Enhancements (Web)
scheduled event or on a specific date, and either a specific dollar amount or percentage of the value (at
the time of conversion) of the Asset to Use. Conversions illustrated in 2010 will automatically spread
the income taxes due on the conversion over 2011 and 2012. If conversion is “At Death”, a Spousal
Rollover is implied before the conversion by the spouse. All analytical presentations will illustrate the
effects of the conversion considering full cash flow and will include Resource Pages discussing IRA and
Roth IRA differences and issues regarding Conversions.




                                                           2009R1 PlanLab Enhancements          Page 6
2009R1 PlanLab Enhancements (Web)

Ability to Enter Separate Ages for Client & Spouse SS Benefit Start
Retirement Road Map (RRM)
Advisor can now choose a start age for Social Security
retirement benefits that is different from their
“Retirement Age”. Additionally, the start ages can be
different for each spouse. The software automatically
calculates benefits based on the start age listed, but only
illustrates benefits received after the start of retirement.
This data entry option is only in the Detailed Entry to
preserve the quick, 6-question simplicity of the Basic Entry.




                                                            2009R1 PlanLab Enhancements   Page 7
2009R1 PlanLab Enhancements (Web)

Separate Growth Rate Entries (per Phase) for QP Assets
Retirement Road Map (RRM)
Advisors can now select different interest rate assumptions during each phase of retirement for their
Qualified Plan assets. This allows advisors to use the same investment strategy for ALL retirement assets
(qualified and non-qualified), and to truly show the value of the time horizon based investment strategy.
This data entry option is only in the Detailed Entry to preserve the quick, 6-question simplicity of the
Basic Entry.




Ability to Enter Multiple Income Streams
Retirement Road Map (RRM)
Advisors can now enter multiple income streams in Retirement Road Map to handle multiple annuities,
lump sum future inheritances, DB plans and any other sources of income during retirement. This data
entry option is only in the Detailed Entry to preserve the quick, 6-question simplicity of the Basic Entry.




                                                             2009R1 PlanLab Enhancements          Page 8
2009R1 PlanLab Enhancements (Web)
PlanLab Now Supports Firefox 3.0
PlanLab now supports both Internet Explorer (IE) 6.0 and higher and Firefox 3.0. Many Mac users have
difficulty running Internet Explorer on their Mac’s, and some Windows users prefer other browsers
besides Internet Explorer, so we have provided an alternative with Mozilla Firefox.




                                                         2009R1 PlanLab Enhancements        Page 9
2009R1 PlanLab Enhancements (Web)

Search for Clients across All Business Units
Managers and Home Office users will now be able to quickly find a Client in PlanLab without needing the
information of the advisor who owns the Client in the system. Previously, client searches were limited
to individual Business Units, but now the search can look into all Business Units.




E-mail Address Added to Team Member Search
The e-mail address of a user has been added as identifying information when searching for users in the
system. So if you have two users named “John Smith”, you will be able to distinguish between them.




                                                          2009R1 PlanLab Enhancements        Page 10

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:8
posted:12/29/2011
language:
pages:10