Gold Changes - Pralana Retirement Calculator

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

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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