There are a significant number of new features in TRAK. Below is a summary of the new features.
| Note: | More details, including updates to specific pension plans, are available in the Readme.txt file found in the application directory. This file may be accessed in the File/About window. Changes to specific pension plans can be viewed in this window under the "Support Information" group. |
May 2016
Batch Processing
The Contribution Analysis report can now be printed with the Batch Gap. This allows provides a great way to help individuals take small steps to success rather than the large increase in contributions that a Batch Gap report may suggest. Additionally,in the Batch Gap calculator, when a Roth account is available, more control has been added to how increases in contributions allotted between the pre-tax and Roth account.
Quick Gap and Gap Analysis
A new contribution page is available that can compare changes to their contributions, including future increases in contribution verses their current contribution.
April 2016
Dropping the Ball
If you pay more attention to the "New Features..." section here than we have, you would think that there has not been any additional features in TRAK for quite some time. That is not the case--but we have dropped the ball on keeping this up to date. We have not dropped the ball on continuing to keep TRAK up to date. While we will try to do a better job keeping this up to date, we promise to keep working hard to keep you as a loyal customer of ours.
Interest Calculator
Updated the user interface and added the "Accumulation & Distribution" calculation. This calculator is great for showing how deposits over a long time can provide an income during retirement.
Batch Gap
The percent of income needed in retirement can be based on the client's (participant's) annual income. (Typically, higher incomes need a lower percentage of income).
Batch Processing
Added filtering for running batch reports.
Contribution Analysis
When working with plans that include Roth accounts, there is now more control to which account (pre-tax or Roth) the increased contributions are made to.
Employer File Editor
Added Simple and Advanced mode for working with employer files.
Gap Analysis
Allow for a lot more detail when working with the "Retirement Budget" in the "Retirement Incomes" tab.
Added functionality to the Scenarios editor found in the "Calculations" tab.
Gap Analysis and Quick Gap
Charts now use new color themes that provide better contrast when viewing and printing.
Allows Retirement Investment accounts to be Inherited IRAs.
Custom Retirement Plans
Added different employer contribution options for Custom Retirement Plans (found in Setup/Retirement Plans), including allowing different classes of employees for profit sharing.
Stretch IRA
Added ability to illustrate inherited IRA.
Pension Plans
A lot of work has been done on extending the depth of features in ability to illustrate pension plans. A couple examples include:
With defined benefit plans, survivor benefit options that do not require a spouse's date of birth are now displayed when no date of birth is entered.
The user interface and reports reflect plan nomenclature.
October 2014
Gap Analysis and Quick Gap
For cash balance accounts, added two dollar payout methods ("Dollar Value, No inflation" and "Dollar Value, With Inflation").
For DC plans, if a client reaches their annual contribution limit in a calendar year before the end of a year, a warning message is displayed.
July 2014
Gap Analysis
For federal accounts, added TSP Annuity payout options.
For CSRS, added ability to edit the survivor benefit as a dollar value or a percent value.
Gap Analysis and Quick Gap
Retirement payout methods can be removed from the list (in File/Config/Gap Analysis/Calculator).
April 2014
Gap Analysis and Quick Gap
Ability to illustrate Strategic Social Security models in TRAK.
Strategic Social Security Calculator
Calculator introduced to TRAK.
January 2014
Batch Gap
Report can be printed in Spanish or English.
Gap Analysis
Easily create multiple scenarios for printing.
Quick Change tool for changing scenario values easily within the Calculation tab..
Gap Analysis and Quick Gap
Known income accounts can be jointly owned.
General
Significant improvements throughout TRAK in quality and depth of features.
Multi-Tier Calculator
Significant increase in flexibility and features.
April 2013
Gap Analysis
Ability to create (and print) multiple scenarios easily and quickly.
Added budgeting reports.
Printing
Reports can now be printed in various color schemes (Deluxe version only).
Cover page can be selected (Deluxe version only)
January 2013
Printing
Most reports now include a print-preview visible by pausing the mouse over the name of the specific report.
November 2102
Multiple Groups in Batch Processing
Multiple groups can be selected in the Batch Processing tool.
Printing
Reports can be previewed by moving the mouse over the report name. Additionally, the configuration panel on the left can be hidden/displayed when a report is being viewed.
Federal 1040
Including/excluding year-to-date values can be easily configured for the 1040 calculator.
Added Participant Benchmark Charts
Numerous charts have been added to the Participant Benchmark report.
Roth Conversion
A grid report showing annual values is now available in the Roth Conversion calculator.
Custom Retirement Plans
Employer contributions can include a specific dollar for each paycheck, or at the end of a month, quarter or year.
August 2012
TSP Roth Account for Federal Retirement Plans
A TSP Roth account is now included in the Gap Analysis calculator when working with federal pension plans.
Contribution Analysis
Several options are available to include the Roth account for increased deferrals.
June 2012
New Ribbon Tool
Navigation is easier and more graphical than before with the new, improved ribbon tool. The ribbon tool includes context tabs (tabs added for specific calculators, e.g. when the Paycheck calculator is open a new tab is also available).
Pension Max
Added a brand new Pension Maximization calculator. It includes the ability to have multiple term insurance policies in addition to the whole life policy.
Participant Benchmark Report
A Participant Benchmark Report was added to the Batch Processing tool. Report includes over 10 pages of charts and graphs.
Data Sync
Data Sync was added to TRAK to sync data between various computers using TRAK.
Public Pension Plans
We continue to work hard at improving the breath and depth of our pension plans. We have more pension plans than ever and is more details implemented in the plans, including cash balance options, updated COLA values, DB Plan reports, etc.
January 2012
Public Pension Plans
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.
Importing
The client import tool now provides a log for viewing after the data has been imported.
User Interface Improvements
General user interface improvements have been made in various TRAK calculators.
Paycheck
The withholding and 1040 tax tables have been updated for 2012.
October 2011
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.
May 2011
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.
January 2011
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 File/Config/Employer and overridden in an employer file.
July 2010
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.
January 2010
Multi-Tier Split Annuity Calculator
A new Multi-Tier Annuity calculator has been added to TRAK.
Printing
The Print Dialog now supports default report selection and the report order may be configured.
Batch Gap
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 contributions that are not realistic (e.g. retirement age can be increased).
Quick Gap and Gap Analysis
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).
