PRC2024.2.3.3 Released July 15, 2024

  • “Unhid” the scenario selection row on the Analyze > Roth Conversions page (this was an error introduced in v 2.3 on July 6)


PRC2024.2.3 Released July 6, 2024

  • Refined the calculation of interest on HELs and HELOCs
  • Simplified the calculation for effective taxes to be Total Taxes / Federal AGI
  • Made a small correction to the ACA subsidy calculation
  • Corrected an issue with consumption smoothed expenses sometimes appearing in the NOT USED column on the Tabular Projections > View Mgmt page
  • Optimization of Roth conversions now uses the user-specified Priority field rather than changing it to “You Have Priority”
  • Limited the home mortgage interest deduction to balances up to $750,000
  • Improved the calculation of Medicare premiums in first year of eligibility for married coupled and in the years of death
  • Modified some default settings in the Global Clear function
  • Added protection against a rental property depreciation period of zero
  • Set nominal ROR to zero for the cash account during historical analysis
  • Added more sophistication to the calculation for SS survivor benefits
  • On the Tabular Projections, changed the Total Income column header to Total Spendable Income
  • Corrected the Total Taxes field on the Analyze > Roth Conversions page
  • Made a small correction to the LTCG component of the taxable investment account


PRC2024.2.2 Released April 4, 2024

  • Removed superfluous mode 1 asset allocation information in the PDF Input Report when in mode 2
  • Set the model’s starting year to 2024 when importing the inputs from the Simplified Inputs page
  • Made a change to allow dates in yyyy/mm/dd format as well as the standard mm/dd/yyyy format
  • Removed the taxable and non-taxable windfalls rows from the Reports > Summary page (because the windfall amounts are included in the Other Income rows)
  • Enhanced the mortgage/loan modeling for the Expenses > Property page to terminate the loans mid-year when appropriate
  • Made a small correction in the taxation of Social Security income
  • Added guardrails to the Actuarial variable spending method to reduce year-to-year spending fluctuations
  • Made a small change to the Guyron-Klinger variable spending method
  • Corrected an error in the calculation of deductible interest on cash-out loans on rental property
  • Improved the marital status checking in conjunction with IRMAA-limited Roth conversions
  • Added conditional formatting to the Financial Assets > Initialization > Cash Ceiling fields
  • On the Financial Assets > Initialization page, implemented the capability for users to specify unscheduled withdrawals from tax-deferred accounts in the year prior to the model’s starting year
  • Further improved the Roth optimization algorithm
  • Corrected an error in the early pay-off of Cash-out loans on rental properties


PRC2024.2.1 Released February 27, 2024

  • Modified the formatting of start/stop fields on the Income page that are intended to accept 4-digit year inputs only. This change will prevent Excel from changing the formatting to a date field if the user inadvertently enters a full date rather than just a year.
  • Made a correction to the Net Withdrawals from Cash Account column on the Tabular Projection > View Mgmt page (display issue only; does not affect the tool’s calculations)
  • Made a correction in the way the projections are done in the final (usually a partial) year of the modeling period (will tend to slightly improve the final balance of all accounts)
  • Modified withdrawal priority optimization to seek maximum effective savings rather than maximum absolute savings


PRC2024.1.9 Released February 9, 2024

  • Fixed a minor issue with Global Copy
  • Made a minor modification to the Guyton-Klinger variable spending algorithm
  • Added Healthcare Expenses Eligible for a Business Deduction to the tabular projection of AGI
  • Corrected an issue with the loading of the checkmarks on “Non-Retired Narrow Default Views” for View #2 on the Tabular Projections > View Mgmt page
  • Updated the historical data for S&P stocks, 3-month T-Bills, and 10-year T-Bonds per adamodar@stern.nyu.edu


PRC2024.1.8 Released January 31, 2024

  • Enhanced the import function to gracefully reject files that are not real PRC export files
  • Adjusted the threshold birth year for people whose RMDs start at age 75 from 1959 to 1960


PRC2024.1.7 Released January 29, 2024

  • Corrected a regression error which caused some of the historical user data not to be imported correctly from a PRC2023 export file


PRC2024.1.6 Released January 27, 2024

  • Corrected an error in which the calculation of mortgage interest was incorrect in the year of a lump sum payoff
  • Made a correction to the 529 plan totals shown on the Expenses > Children page (no effect on projections)
  • Made a correction on the Analyze > Sensitivities page relative to Consumption Smoothed expenses (no effect on normal projections)


PRC2024.1.5 Released January 25, 2024

  • Corrected the initial value of a reverse mortgage that was originated prior to the start of the modeling period
  • Limited ACA subsidies (i.e., Premium Tax Credits) to the actual ACA premium amount
  • Enhanced the import/export function to include user historical data for asset allocation mode 2
  • Corrected an error in the Cash Account withdrawals line of the Reports > Summary Report
  • Made several tweaks to state tax tables
  • Added reportable LTCG to the total income considered when calculating effective tax rate
  • Corrected the global copy function to include variable spending strategy and consumption smoothing parameters
  • Corrected a non-convergence problem with term life insurance calculations


PRC2024.1.4 Released January 15, 2024

  • For the Analysis > Roth Conversions page, corrected the import function to convert 2023 IRMAA bracket limits to 2024 IRMAA bracket limits when importing a file from PRC2023
  • Corrected an error in the Fixed % with Floor & Ceiling spending strategy when the retirement date precedes the start of the modeling period


PRC2024.1.3 Released January 11, 2024

  • Updated the Roth optimization algorithm
  • State income tax calculation modifications


PRC2024.1.2 Released January 9, 2024

  • Unlocked a field that could cause a run-time error during historical analysis of scenario 3


PRC2024.1.1 Released January 8, 2024

  • Discovered and corrected a monthly payment formula that had not been properly applied to all future years for a mortgage on personal property #1.


PRC2024.1.0 Initial Release, January 7, 2024

  • Implemented 2024 tax and IRMAA tables
  • Enhanced the Roth optimization algorithm to find the optimum marginal tax bracket for each and every year
  • Modified Roth conversions to do optimization based on Effective savings rather than absolute savings
  • Eliminated the ability for the user to do a 1-time rollover of after-tax dollars on the Roth Conversions page
  • Added a field on the Run Analysis page to display the worst historical sequence after completing an historical analysis
  • Eliminated the essential spending success data from the Run Analysis page
  • Modified Monte Carlo and Historical analyses to calculate and display the average variable spending for the next 5 years on the Run Analysis page
  • Modified the Analysis > Scenario Comparisons page to show variable spending for the next 5 years rather than essential spending success rates
  • Modified the gray bands on the Run Analysis page
  • Enhanced the Healthcare active period calculations to account for death of a partner during a period


PRC2023.4.3 Released November 30, 2023

  • Made a few minor corrections to the PDF reports and to the spouse age on the Term Life Insurance page


PRC2023.4.2 Released November 25, 2023

  • Corrected an error in the modeling of property loans with an interest-only period
  • Removed apostrophes from plural acronyms in a few headers on the View Mgmt page
  • Corrected an error which prevented the QBI deduction when the owner dies in the first year of the modeling period
  • Corrected an error which prevented life insurance premiums as an expense when the owner dies in the first year of the modeling period
  • Corrected an error in spousal benefits calculations during Social Security start age optimization


PRC2023.4.1 Released October 22, 2023

  • Made another small correction to the calculation of Social Security spousal benefits


PRC2023.4.0 Released October 16, 2023

  • Corrected an error in the calculation of Social Security spousal benefits


PRC2023.3.9 Released October 1, 2023

  • Made a small correction to the effective tax rate calculation
  • Corrected an error in the calculation of variable spending amounts using the CAPE method during Historical Sequence Analysis


PRC2023.3.8 Released August 26, 2023

  • Finished correcting an error in the calculation of AMT when Other Income contains qualified dividend income


PRC2023.3.7 Released August 25, 2023

  • Corrected an error in the projection of a reverse mortgage when it begins prior to the model’s starting year and is of the “term” type
  • Corrected a limitation in the SS optimization algorithm when one marriage partner is above age 70 at the start of the modeling period


PRC2023.3.6 Released August 23, 2023

  • Corrected an error in the calculation of AMT when Other Income contains qualified dividend income
  • Corrected a regression error that was preventing copies of the Withdrawal Priority tables on the FA > Management page


PRC2023.3.5 Released August 7, 2023

  • Corrected errors relative to the presentation of variable spending amounts in tabular projections and the summary report


PRC2023.3.4 Released July 18, 2023

  • Corrected an error in the computation of essential spending success rate (a regression error caused by conversion of MC analysis from 500 to 1000 test cases)

Corrected a case where state income taxes could go negative


PRC2023.3.3 Released June 28, 2023

  • Bug fix on mid-year growth calculations (regression error created in v3.2.1)


PRC2023.3.2.2 Released June 17, 2023

  • Bug fix on the modeling of a HELOC (regression error created in v3.2.1)
  • Bug fix on mid-year growth calculations in conjunction with TD(D) withdrawal priority (regression error created in v3.2.1)


RC2023.3.2 Released June 15, 2023

  • Bug fix on the Analysis > Scenario Comparison page
  • Bug fix on the Tab Projections > AGI page
  • Bug fix on the PDF Input Report relative to taxation of the regular investment account
  • Minor modifications to align with web version of PRC (now in development)


PRC2023.3.1 Released April 6, 2023

  • Finished the conversion of Monte Carlo analysis from 500 to 1000 test cases
  • Eliminated the field on the Home page for specifying an alternate inflation rate for federal tax tables (was on the user interface but not used)
  • Corrected the export/import of CAPE analysis parameters


PRC2023.3.0 Released April 2, 2023

  • Corrected the import of the TCJA sunset year
  • Converted Monte Carlo analysis from 500 to 1000 test cases
  • Modified the rental property depreciation pick list to include an option for 27.5 years
  • Corrected a minor issue with the scenario copy on the Home page
  • Corrections to the Reports > Summary page
  • Changed retirement income deduction amounts for Maryland state taxes
  • Made several formula changes to achieve alignment with the web version of PRC (now in development)
  • Added an updated digital signature to the macros


PRC2023.2.9 Released February 28, 2023

  • Corrected small errors in the taxation of annuities, the Summary Report and restricted applications for Social Security benefits
  • Added scenario name to the cover page and page headers of the PDF reports
  • Made refinements to the optimization, consumption smoothing and Monte Carlo analysis algorithms
  • Enhanced Roth conversion algorithm to consider tax-exempt income in MAGI when limiting conversions based on IRMAA brackets


PRC2023.2.8 Released February 18, 2023

  • Made an adjustment to the font size on the Summary Report page to accommodate larger numbers, and corrected a couple of typos
  • Corrected an issue relative to the exporting of user asset classes from the Historic Data pages
  • Corrected the import of the Cash account balance from the Simplified Inputs page


PRC2023.2.7 Released February 9, 2023

  • Implemented Virginia state tax deduction of $20,000 per person for military pension income
  • Improved the operability of the withdrawal order optimization function on the Analysis > Optimization page
  • Adjusted the withdrawal order optimization algorithm to run correctly with the latest versions of Excel
  • Enhanced the Social Security start age optimizer to only consider start ages still in the future and to save optimization results for all three scenarios
  • Corrected an error in the supplemental income requirement analysis


PRC2023.2.6 Released February 4, 2023

  • Corrected the scenario copy on the Phased Expenses page to include the period 2 and 3 start years
  • Corrected an error on the charitable giving page where non-QCD’s were not being recognized on the 5th row of the input table
  • Corrected an entry in a data table with the potential to cause an error in the calculation of ACA subsidies


PRC2023.2.5 Released February 1, 2023

  • Prioritization column settings on the Analysis > Roth conversions page are now retained after disabling and then re-enabling Roth conversions
  • Modified the Monte Carlo and historical analyses to declare a failed test case if the total savings balance ever reaches zero at any time during the modeling period
  • Corrected an issue related to using the simplified start to populate PRC
  • Made a change to the state tax table for Delaware
  • Corrected an error in the Summary Report
  • Added controls to the Analysis > Compare Scenarios page to enable scenario 2 and 3 data to be shown or hidden


PRC2023.2.4 Released January 30, 2023

  • Found and fixed a case where the enable/disable state of Roth conversions was not being saved correctly into the baseline when running a Monte Carlo or Historical analysis
  • Implemented conversion from future $ to today’s $ for Mode 2 asset allocation acct balances at the far right side of the Tab Projection > View Mgmt table


PRC2023.2.3 Released January 30, 2023

  • Corrected an error in the Roth account starting year balance on the Summary Report


PRC2023.2.2 Released January 29, 2023

  • Added non-essential phased expenses to the PDF reports
  • Clean-up of consumption smoothing results on Analysis > Scenario Comparison page


PRC2023.2.1 Released January 29, 2023

  • Adjusted the vertical axis label on the Analysis > Scenario comparison chart when the view is switched from Savings to Expenses and vice versa
  • Made a small correction to the taxable Social Security amount calculation
  • Implemented the capability to override the automatically calculated standard deviation values with manual entries on the Run Analysis page
  • Disabled the historical sequence analysis upon navigating to these pages: Analysis > Roth Conversions, Sensitivities or Optimization
  • Corrected a small error in tallying the success rate of overall and essential spending


PRC2023.2.0 Released January 27, 2023

  • Fixed a regression error created in v 1.8 relative to SS spousal benefits when the record holder’s benefits have already started


PRC2023.1.9 Released January 27, 2023

  • Minor corrections with historical analysis
  • Fixed a source of inconsistent results from the SS optimizer
  • Corrected the variable spending strategy and withdrawal rate values shown in the table on the Analysis > Scenario Comparison page


PRC2023.1.8 Released January 27, 2023

  • Made a small correction to the calculation of Social Security (SS) spousal benefits
  • Corrected the inflation adjustment of SS benefits when a delta adjustment above or below general inflation is specified
  • Corrected a potential run-time error case related to a particular sequence of optimizations and analyses
  • Corrected an error related to saving the results of withdrawal order optimization
  • Made some modifications to the creation of baselines in conjunction with imports and analyses to avoid some confusing graph lines on the Roth conversion and Sensitivities page
  • Made a correction to the calculation of healthcare inflation when period-specific inflation deltas are specified
  • Corrected an issue wherein navigation to the Expenses > Miscellaneous page caused the toggling of the “Essential?” checkbox on the first row of the table
  • Corrected the display of CAPE values on the Historic Sequence page when the historic sequence feature is disabled


PRC2023.1.7 Released January 25, 2023

  • Corrected a potential run-time error case related to a particular sequence of optimizations and analyses
  • Corrected an error that caused inconsistent results in the Social Security optimization algorithm


PRC2023.1.6 Released January 23, 2023

  • Corrected an error in the calculation of the expense percentiles during historical analysis
  • Corrected an error that resulted in overstatement of unearned income Medicare tax for self-employment income


PRC2023.1.5 Released January 22, 2023

  • Re-applied Pralana’s digital signature
  • Corrected an error in the conversion of Schedule E Income/Loss from future $ to today’s $ on the AGI details page
  • Reimplemented the historical analysis algorithms again in an attempt to address failures occurring in some Excel system configurations
  • Reimplemented the Roth conversion algorithm to address the same Excel-related errors that were causing Monte Carlo and historical analysis errors in some Excel system configurations


PRC2023.1.4 Released January 21, 2023

  • Made a correction to the deductible interest on properties listed on the Expenses > Property page
  • Made some modifications to the Monte Carlo and historical analysis algorithms in an attempt to address failures occurring in some Excel system configurations


PRC2023.1.2-3 Released January 18, 2023

  • Hid some rows at the bottom of the Run Analysis page that were inadvertently left unhidden
  • Corrected the state of a control that had PRC in a mode of using the optimized SS start ages rather than those specified by the user on the Income page


PRC2023.1.1 Initial Release on January 18, 2023

  • Implemented the Inflation Reduction Act to extend ACA subsidies through 2025 regardless of MAGI
  • Implemented SECURE 2.0 to delay RMD’s
  • Implemented 2023 tax tables
  • Enhanced the Roth conversion algorithm to optionally limit conversions to the top of the 0% or 15% capital gains brackets
  • Expanded withdrawal priority options to include proportionate withdrawals across all accounts
  • Added the capability to vary the general inflation rate over two different time periods
  • Added the ability to vary the rates of return for each asset class over multiple time periods
  • Added the capability to model future children
  • Added the capability to delay RMD’s from inherited traditional and Roth IRAs
  • Implemented a new summary report that presents a detailed listing of income and expense components and identifies all of the puts and takes relative to regular, tax-deferred and Roth accounts for the first five years of the modeling period
  • Implemented the concept of essential and non-essential expenses (replacing the prior definition of discretionary and non-discretionary expenses) and enhanced the Monte Carlo and historical analyses to compute overall success rate and essential spending success rate
  • Implemented a new page that shows side-by-side comparison of analysis results from all three scenarios

 

PRC2022.3.3 Released November 1, 2022

  • Corrected a few errors in help text.
  • Made a minor change to the Mode 2 asset allocation algorithm
  • Corrected a regression error that occurred in the development of PRC2022.3 that resulted in bad results from the withdrawal order optimization process. While the hood was up, made some other minor enhancements in the same area.
  • Corrected the import of IRMAA limits from a PRC2021 export file


PRC2022.3.2 Released September 7, 2022

  • Corrected the format of the “relocation” year for scenario 2 on the Home page.


PRC2022.3.1 Released September 3, 2022

  • Added a 1-second delay into three places in the macro that creates PDF reports to work around an Excel timing issue that results in run-time errors on some system configurations
  • Corrected the conditional formatting on the Healthcare Expenses page that was causing improper blacking-out of some fields in scenarios 2 and 3


PRC2022.3 Released August 16, 2022

  • Converted all Excel data tables (used for Monte Carlo and Historical analysis as well as all optimization functions within PRC) from static (always present) to dynamic tables (created when needed and then deleted) in an attempt to avoid and/or minimize substantial performance issues associated with one or more recent Microsoft Excel updates.


The following is a list of corrections for small errors discovered in the course of development of the web version of Pralana Gold:

  • Corrected an error in tracking the after-tax balance of tax-deferred accounts
  • Corrected an error in the calculation of additional Medicare Tax for married users (the additional 0.9% tax was being applied to the combined income above the threshold rather than each partner’s income above the threshold).
  • Corrected an error in the limitation of property tax and state income tax deductions while TCJA of 2017 is in effect
  • Corrected an error in the phase-out of itemized deductions and exemptions under the pre-TCJA of 2017 tax law (this tends to increase the deductions and exemptions)
  • Made a minor correction to the RMD calculation in the year of the owner’s death
  • Modified the calculation of the Net Investment Income Tax to consider taxable annuity income as investment income
  • Made a one-year adjustment to the inflation correction on state income tax tables
  • Corrected an error in the AGI Detail tabular projection relative to taxable pension rollovers to a Roth IRA starting in year 2054


PRC2022.2.11 Released May 30, 2022

  • Corrected the state tax calculations to make pensions taxable in Montana
  • Prevented child tax credits from taking Federal income tax into negative territory


PRC2022.2.10 Released May 13, 2022

  • Corrected an error in computing the start date for the spouse’s annuities
  • Included scheduled non-qualified withdrawals from an HSA account in the Scheduled Withdrawals from TD Accounts column on the AGI page


PRC2022.2.9 Released April 26, 2022

  • Corrected an error in the Monte Carlo analysis algorithm that caused stocks and bonds to be correlated when asset allocation mode 2 was in use, regardless of the setting in the checkbox on the Run Analysis page
  • Corrected a minor formatting issue with the default settings of narrow views for View #5
  • In the Inputs PDF report, changed ROR for HSA and 529 plans from nominal to real
  • Made a minor correction to the first-year appreciation of a home purchased during the modeling period
  • Inserted the new GlobalSign digital signature


PRC2022.2.8 Released March 11, 2022

  • Corrected an error in the deduction of prior-year unallowed losses when calculating income taxes in the year a rental property is sold
  • Made another refinement of the workaround code to prevent a page from inadvertently going to the split view on Mac computers.


PRC2022.2.7 Released March 8, 2022

  • Made a small correction to the Mode 2 asset allocation algorithm
  • Corrected the historic stock return data for years 2020 and 2021.


PRC2022.2.6 Released February 26, 2022

  • Further refinement of the Roth conversion algorithm to improve the handling of the interdependencies between the taxation of SS benefits and tax-optimized Roth conversions.
  • Refinement of the workaround code to prevent the Home page from inadvertently going to the split view on Mac computers.


PRC2022.2.5 Released February 23, 2022

  • Made a change to the Roth conversion algorithm to improve the handling of the interdependencies between the taxation of SS benefits and tax-optimized Roth conversions and thereby make more consistent annual conversions when Social Security benefits have started
  • Corrected an error wherein Other Incomes streams being taxed as LTCG were included twice in AGI calculations but streams being taxed as qualified dividends weren’t being included in LTCG calculations
  • Corrected the Tabular Projection > Itemized Deductions page to populate the column for QBI deduction for pass-through entities


PRC2022.2.4 Released February 16, 2022

  • Made a small change to the calculation of success rate for the historical analysis method
  • Changed the default setting (from 24% to 15%) on effective tax rate for converting absolute to effective dollars
  • Made a small change to the implementation of the TD(D) withdrawal priority


PRC2022.2.3 Released February 10, 2022

  • Corrected a Missouri and Delaware state tax calculation error which could occur with state taxable income of zero


PRC2022.2.2 Released February 8, 2022

  • Added “taxed annually as LTCG” as a regular account taxation option
  • Corrected an error in the calculation of RMD’s (distribution factor was slightly off due to an indexing error)
  • Corrected an error in the calculation of the (for-your-information-only) effective tax rate
  • Eliminated corruption of the Mode 2 asset allocation table during import of “simplified inputs”


PRC2022.2.1 Released February 3, 2022

  • Corrected an error in the calculation of balloon payments on the Property Expenses page


PRC2022.2 Released February 2, 2022

  • Eliminated the Pease Limitation on itemized deductions under TCJA of 2017
  • Added a column for Pease-limited itemized deductions on the Itemized Deductions page


PRC2022.1.8.1 Released January 31, 2022

  • Implemented a minor improvement in the calculation of RMD’s for inherited IRA’s
  • On the Income page, added a link to scroll to inherited IRA’s
  • The tabular projection display of HSA growth as zero has been corrected.
  • Made military pensions fully deductible in the state of North Carolina


PRC2022.1.7 Released January 23, 2022

  • Corrected an error related to the export and import of the report titles on the Reports page
  • Corrected an error in the TCJA tax calculations: the $10,000 limit on itemized deductions for property taxes and state income taxes was being ignored.
  • Made two changes on the Tabular Projections > AGI page: 1) The “Taxable pension rollovers to Roth IRA” column was actually referring to traditional IRA’s rather than Roth IRA’s and 2) the way “Previous year withdrawal from TD accounts” was being converted to today’s dollars resulted in inconsistency between the TP > AGI page and the TP > Taxes page. These issues only affected the breakdowns being presented on the AGI page, not the tool’s projections.


PRC2022.1.6.1 Released January 21, 2022

The elimination of the double subtraction of the management expenses in v1.6 was done incorrectly, and resulted in a zero ROR. This was fixed in v1.6.1.

PRC2022.1.6 Released January 21, 2022

  • Corrected a formatting problem with the start date for employment income stream #2 for S2 and S3.
  • Eliminated a double subtraction of the management expenses for the spouse’s TD account in scenario 1


PRC2022.1.4 and 1.5 Released January 20, 2022

  • Inserted the (missing) initial balance of TD accounts on the tabular projections pages when looking at effective balances rather than absolute balances
  • Corrected an error in the calculation of the cash account balance when driven below the specified cash floor after an extended period of negative cash flows has depleted the balance of all other accounts
  • Corrected the 2021 import of the start date of the spouse’s windfall income for scenarios 2 and 3
  • Excluded scheduled withdrawals from TD accounts from state taxable income for states that don’t tax RMD’s


PRC2022.1.3 Released January 19, 2022

  • Changed the initial setting of the effective/absolute dollars indicator to a default setting of “absolute dollars”.


PRC2022.1.2 Released January 19, 2022

  • Corrected a minor issue with the placement of the column headers in the Operating Costs table on the Expenses > Property > Annual page following an import from the 2021 model


PRC2022.1.1 Released January 15, 2022

  • Initial release of new functionality

*********************************************************************************************************************************

PRC2021.4.2 Released October 23, 2021

  • Tweaked the Roth conversion algorithm for tax-bracket-limited conversions to use all of the headroom available in the targeted tax bracket (it was leaving some space at the top in cases where the taxable income was low prior to considering the Roth conversions).
  • Made a correction to the reporting mechanism on how much headroom remains in the current marginal tax bracket. This was a combination of rounding errors and some LTCG were being considered but should not have been (the latter was a regression error introduced in v3.8).
  • Corrected an error with the calculation of start and stop times for the spouse’s second annuity (Income page).


PRC2021.4.1 Released September 27, 2021

  • Corrected an error in the Net Investment Income Tax caused by a change introduced in v3.5.


PRC2021.4 Released September 19, 2021

  • Made another correction to AMT calculations


PRC2021.3.9 Released September 17, 2021

  • Corrected an error in the MAGI for Medicare Premiums column on the Tabular Projections > View Mgmt page
  • Increased the upper limit for Healthcare Inflation on the Analysis > Sensitivities page
  • Made a minor correction in the Withdrawal Order Optimization algorithm
  • Made a few minor corrections in AMT calculations
  • Corrected a case where HSA withdrawal errors were being reported after the end of the modeling period


PRC2021.3.8 Released August 9, 2021

  • Corrected a small error introduced in the revised capital gains calculations for qualified dividends in v3.5
  • Made an enhancement to the calculation of Capital Loss Carryover amounts to avoid reductions when taxable income is sufficiently low as to not need the carryover losses.
  • Made an implementation change to interpret “Other Income streams being taxed as capital gains” (as specified on the Income page) as qualified dividends rather than actual long-term capital gains.
  • Made an implementation change to prevent run-time errors in late models of Excel for Macs during imports with non-PRC Excel files open.
  • Tightened up the success criteria by 1% for the Monte Carlo consumption smoothing algorithm
  • Corrected the implementation of scheduled withdrawals from inherited traditional and Roth IRA accounts to only make the withdrawal if sufficient funds are present.


PRC2021.3.7 Released August 3, 2021

  • Made a minor correction in the Monte Carlo success rate calculation for scenario 3


PRC2021.3.6 Released August 1, 2021

  • Corrected a 1-year error in the application of scheduled withdrawals from “your” inherited IRA account (the withdrawal was occurring one year too early)
  • Corrected an import error: The maximum IRMAA value on the Roth conversion page was always being set to “No Limit” during imports from a 2021 export file


PRC2021.3.5 Released July 31, 2021

  • Changed Tennessee state tax rate to zero, thus making it a no-tax state.
  • Corrected an error in the annual adjustment of Capital Loss Carryover for the regular investment account
  • Corrected an error in the calculation of capital gains taxes on qualified dividends in the case where there is a positive Capital Loss Carryover amount


PRC2021.3.4 Released June 24, 2021

  • Removed the code added in v3.3 which attempted to correct for the occasional loss of PRC’s nav menu in some versions of Excel for Macs; that code had a negative effect on PRC page scrolling. The ultimate workaround for the loss of the nav menus is unknown at this point.


PRC2021.3.3 Released June 15, 2021

  • Made a correction to the implementation of the American Rescue Plan Act of 2021 in regard to Roth conversions in 2021 and 2022 with no ACA insurance
  • Added some code in an attempt to correct for an Excel for Macs issue related to occasional loss of PRC’s navigation menu when changing pages


PRC2021.3.2 Released June 9, 2021

  • Made a minor correction to the “dollar difference” display on the optimized withdrawal priorities section of the Analysis > Optimization page.


PRC2021.3.1 Released June 9, 2021

  • Corrected an error in the calculation of first-year expenses on new property loans on the Expenses > Property page.
  • Added a new state tax bracket for top-earners in Arizona
  • Implemented the ACA-related changes associated with the American Rescue Plan Act of 2021 for Monte Carlo and historical analyses (inadvertently omitted from v3.0)


PRC2021.3.0 Released May 31, 2021

  • Implemented the ACA-related changes associated with the American Rescue Plan Act of 2021
  • Corrected the formatting of the pay-out start field for Annuity #2 for scenarios 2 and 3 on the Income page.
  • Made a change to allow entry of negative values on Unrealized Capital Gains for Regular Investment Accounts on the Financial Assets > Initial Balances page.
  • Corrected a couple of errors related to cash-out refinancing on rental properties
  • On the Analysis > Optimization page, displayed the dollar difference between the optimized withdrawal priorities and the user-specified withdrawal prioritues


PRC2021.2.4 Released Mar 22, 2021

  • Added columns for cash value life insurance and ROR for Spouse’s Tax-Deferred Account on the Tabular Projections > View Mgmt page
  • Made a small correction in the Social Security start age optimization algorithm
  • Corrected a potential circular reference error in the HELOC model
  • During Roth optimizations for single individuals, ensured that the mode for the spouse’s conversion was set to “No Conversions”
  • Made a minor correction to the consumption smoothing algorithm relative to pre-retirement years
  • Made a correction to exclude miscellaneous expenses and non-QCD charitable donations when a spending strategy other than “As Specified” or “As Specified with Smoothing” is selected
  • Corrected an error in the Monte Carlo and Historical analyses (Qualified Charitable Distributions were being computed incorrectly)


PRC2021.2.3 Released Mar 1, 2021

  • Replaced the “Dd” with a blank in the age column of tabular outputs and the time axis of graphs
  • Added “Spouse Tax-Deferred Account” rate of return values to the PDF Inputs Report
  • Corrected the withdrawal order description in the PDF Input Report
  • Corrected a regression error on the Analysis > Optimization page (period 2 and 3 withdrawal order results not being displayed; this error was introduced in v1.6)


PRC2021.2.2 Released Feb 22, 2021

  • Made some conditional formatting changes to the Input Report (printable PDF)
  • Corrected an error in the state income tax table for Pennsylvania
  • Corrected a regression error on the Tabular Projection > View Mgmt page (the column headers were accidentally hidden in v2.1)


PRC2021.2.1 Released Feb 19, 2021

  • Corrected an error in the conditional formatting on the Financial Assets > Taxation page
  • Corrected an error in the constant spending algorithm in the case where retirement began prior to the start of the modeling period
  • Corrected an error that causes a run-time error when attempting to change the position of the column headers on any of the tabular projection pages
  • Made an adjustment to the formatting of the secondary navigation links on the Tabular Projection pages to make them fully visible on Excel 2007


PRC2021.2 Released Feb 8, 2021

  • Corrected an error in the calculation of the tax-exempt interest contribution to MAGI for healthcare which, in turn, affects ACA subsidy calculations
  • Enhanced the ACA healthcare calculations to automatically adjust the Second Lowest Cost Silver Plan cost for married couples when the first partner goes on
  • Medicare which, in turn, affects ACA subsidy calculations
  • Corrected a case where the 10% penalty was not applied on early withdrawals from tax-deferred accounts


PRC2021.1.9 Released Feb 1, 2021

  • Corrected a potential source of error with historical analyses that use only asset classes with historical sequences dating back to 1871


PRC2021.1.8 Released Jan 30, 2021

  • Corrected an error in the calculation of overall asset allocation


PRC2021.1.7 Released Jan 26, 2021

  • Corrected a typo in a formula related to paying college expenses with a 529 plan for Child #4


PRC2021.1.6 Released Jan 26, 2021

  • Made an enhancement on the Analysis > Roth Conversions page to highlight the Prioritization field if it’s left blank and to automatically fill it in with “You” if it’s left blank when optimization is done.
  • Added an “Adopt” button on the Analysis > Optimization page to enable the user to adopt the results of the optimized withdrawal order algorithm
  • Corrected a non-convergence issue with the earliest retirement date optimization algorithm when using different life expectancies across the three scenarios


PRC2021.1.5 Released Jan 24, 2021

  • Corrected a Monte Carlo analysis error that results in use of a zero standard deviation for assets 4 through 10.
  • Corrected the operation of the dollar units button on the Analysis > Compare Fixed Rate Analysis Results page

PRC2021.1.4 Released Jan 24, 2021

  • Corrected a run-time error associated with use of the today’s-to-future$ converter on the Income page
  • Corrected the pull-down menu on the Source Account field for purchasing annuities for the spouse (on the Income page)
  • Added code to adjust the vertical axis on the Roth conversion page after each automated optimization event


PRC2021.1.3 Released Jan 21, 2021

  • Corrected the code that shows and hides the expense graphs on the Run Analysis page; this was causing run-time errors on Excel 2007 and 2010 configurations.


PRC2021.1.2 Released Jan 20, 2021

  • Corrected errors in the state income tax calculations for the states of MS and NM


PRC2021.1.1 Released Jan 19, 2021

  • Corrected an error that had the potential to cause Historical analysis to report an invalid scenario
  • Eliminated the source of a potential error in the calculation of Social Security spousal benefits for a single person (obviously there are none)
  • Corrected an error related to importing from the latest PRC2020.3.10 (PRC2021 thinks it’s a 2021 export file)
  • Corrected a formula in one cell of the Total Expenses in the table at the bottom of the Property Expenses page


PRC2021.0 Initial Release Jan 18, 2021