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    • Kathleen Reynolds
      Post count: 428

      Client INputs

      Use the Client Inputs section to enter the following information:

      • First Year
      • # of Years
      • Inflation
      • Plan Owner’s Name
      • Plan Owner’s Birth Date
      • Spouse’s Name
      • Spouse’s Birth Date
      • Oldest Beneficiary’s Birth Year
      • Retirement Plan Account Value
      • Roth IRA Account Value
      • Roth 401(k) Account Value
      • Other Assets Value

      You can also Add additional Non spousal Beneficiaries by clicking the Add button.

      Adding Beneficiaries
      Note: The SECURE Act of 2019 has special rules in place for plan owner deaths that occur on 1/1/2020 or later. For non-exempt beneficiaries, the SECURE Act stipulates that the plan balance be fully distributed by the 10th anniversary of the plan owner’s death. The exemptions for this rule are beneficiaries that are either a) a surviving spouse b) disabled/chronically ill c) a legal minor child of the plan owner or d) the age difference between the plan owner and the beneficiary is less than 10 years. Note: if the beneficiary is a legal minor child of the the plan owner, then their exemption would last until they reach age of majority (deemed by the state of residence). After they reached age of majority, they will be subject to the 10-year rule where the 10th year (distribution year) reflects ten years after they reached age of majority.

      If you wish to Edit or Delete a Non spousal Beneficiary’s information, select them from the list and click the respective button.

      NOTE: It suggested to review the Input Assumptions screen, located on under the Edit Menu. On this screen, will be important features that you can select desired behavior. A new input Inherited IRA (SECURE Act) – Amortize RMDs was added in 2020.00. This allows the user to select if the alternative will consider equal (with growth) distributions during the 10-year distribution payout, or if there will be a lump sum in year 10. More help information is found on that screen.

      The program saves the Client Inputs when you save a file.


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