Our industry is constantly changing and here at RetireReady, we are also constantly looking at ways to improve our solutions. Our goal is to be continually improving to help our advisors be more efficient, help more people, and grow their businesses. We have recently introduced a number of new features in TRAK and have created a brief video illustrating a few of these new additions to the software.
Gap Analysis and Quick Gap
- Including a pension plan will now allow you to enter the years of service through a certain date, rather than entering the date the person began employment.
- If working with a defined contribution plan, you now have more options and control when the person is maximizing their contributions, particularly when the plan features both a pre-tax and Roth account.
- In the Quick Gap, you can now configure future contribution increases to an defined contribution plan. This feature has existed in the Gap Analysis and now is also included in the Quick Gap.
- On the Contribution Comparisons illustration, you now have more control over the illustration when configuring maximum contributions to a pre-tax and/or Roth account.
- The federal retirement plans (CSRS, CSRS with Offset, and FERS) now include the ability to account for deposit and redeposit service in the plan.
- When illustrating the "Quick Max" scenario, you now have more control over where the maximum contribution will be directed when the plan has both a pre-tax and a Roth account.
If you are interested in learning more about these new features, please watch the video below. If you have an idea for a new feature for TRAK, we would love to hear about it!