Version 2019.5.10 (Released 12/6/2019)

  • Corrected an error in the MAGI calculation introduced in v5.4.2: the basis AGI was off by one year.

Version 2019.5.9 (Released 11/25/2019)

  • Corrected an error in the Miscellaneous Expenses section of the PDF Input Data Reports.

Version 2019.5.8 (Released 9/26/2019)

  • Corrected an error on the Property Expenses page related to excess payments in scenarios 2 and 3.

Version 2019.5.6 (Released 9/15/2019)

  • Related only to historical analysis, corrected another error that resulted in a  #REF error on the Run Analysis page field intended to indicate scheduled withdrawal failures.

Version 2019.5.5 (Released 9/13/2019)

  • Hid some rows of formulas that were inadvertently left exposed on the Business Property Expenses page during the v5.3 update.

Version 2019.5.4.3-5 (Released 9/11-12/2019)

  • Corrected errors related to the fix applied in v5.4.2, which were multiple cases of circular reference errors related to interdependencies between automatically calculated Medicare premiums and tax-optimized Roth conversions.

Version 2019.5.4.2 (Released 9/5/2019)

  • Corrected an error in the calculation of the MAGI which is used in calculating Medicare premiums and in the calculation of the Net Investment Income Tax

Version 2019.5.3 (Released 8/26/2019)

  • Corrected an error in one of the headers in the rental properties section PDF report of user inputs.

Version 2019.5.2 (Released 8/25/2019)

  • Corrected a pagination issue on the PDF reports

Version 2019.5.1 (Released 8/23/2019)

  • Corrected a table length mismatch between the PRC file and the export data file that resulted in a bad data field being imported into the Healthcare notes table

Version 2019.5.0 (Released 8/19/2019)

  • Corrected an error related to historical analysis that resulted in a  #REF error on the Run Analysis page field intended to indicate scheduled withdrawal failures.

Version 2019.4.3 (Released 6/29/2019)

  • Corrected the conditional formatting on the FA/Asset Allocation page to flag allocation errors on Roth accounts in Period 2 of Scenario 1.
  • Eliminated the deduction for private pension income in the state of Ohio.

Version 2019.4.2 (Released 6/2/2019)

  • Improved the process for moving columns in tabular projections that are wider than one screen-width
  • Made it easier to check and uncheck "checkbox" fields with a mousepad

Version 2019.4 (Released 5/19/2019)

  • Implemented a variety of PDF report formatting enhancements, including larger fonts and page numbering.
  • Modified the 2019 default tabular views so that the maximum number of data columns does not exceed 10 on any view.  This is consistent with the enhanced PDF format changes for greatly improved readability.

Version 2019.3.7.1 (Released 5/2/2019)

  • Corrected a potential source of error in historical analysis
  • Corrected the determination of the first year of additional standard deductions for people of age 65 and older
  • Corrected a potential source of error in the calculation of net investment tax
  • Corrected a small error in the Medicare Part B premium amount for 2019
  • Unstuck the QBI checkbox at the bottom of the Rental Property expenses page

Version 2019.3.6 (Released 4/12/2019)

  • Eliminated withdrawals from tax-deferred accounts as deductions in calculating Georgia state taxable income

Version 2019.3.5 (Released 4/8/2019)

  • Minor tweaks to the PDF reports

Version 2019.3.4 (Released 4/7/2019)

  • Enhanced the tabular output and PDF report formatting code to eliminate a case where non-percentage values occasionally appeared as percentages
  • Adjusted the calculation of overall asset allocations in the tabular outputs to address only the non-cash accounts (Regular Investment, TD and Roth)

Version 2019.3.3 (Released 4/5/2019)

  • Corrected the scenario description used in preparation of the PDF Input Report
  • Added user headers and footers and made a few other tweaks on the PDF Input Report
  • Corrected an error wherein the QBI deduction checkbox on the Rental Property page was being ignored in federal income tax calculations
  • Changed pull-down menu options to "You" and "Spouse" on the Tax-Optimized Prioritization field on the Rollovers planning plan to avoid possible circular reference errors when user names are changed.

Version 2019.3.2 (Released 3/13/2019)

  • Eliminated an occasional/unnecessary warning message from Excel when importing from an export file created with PRC2019.3.1.
  • Corrected a v3.1 regression issue wherein, after performing an import of an export file created by PRC2019.3.1, zeroes appear as dashes on the Tabular Projection View Mgmt Table and tabular views contain extra rows when formatted with years as columns.
  • Improved the detection and reporting of withdrawal failures (e.g., purchasing an annuity with insufficient funds available) during Monte Carlo and historical analyses

Version 2019.3 (Released 3/5/2019)

  • Improved the performance of the export function
  • Modified the implementation of the "Target % Adjustment" spending strategy: initial spending rate is now user-specified and the target curve (i.e., the critical path) is based on the fixed percentage strategy and fixed rate returns.
  • Adjusted the calculation of state income taxes to account for the use of 2018 state tax tables
  • Changed the basis of Net Investment Income Tax from AGI to MAGI
  • Improved the legend on the Run Analysis page
  • On the Guidance page, updated the link to the Pralana User Support webpage to be consistent with the new secure website

Version 2019.2.6 (Released 2/18/2019)

  • Removed the "improved" version of conditional formatting of percentage fields on the tabular projections page (part of v2.3) which resulted in all percentage fields in PDF reports appearing as zeroes.
  • Enhanced the readability of tabular projections in PDF reports by adding the alternating shaded rows

Version 2019.2.5 (Released 2/15/2019)

  • Corrected an error in determining the tax filing status for a single person in the model's starting year

Version 2019.2.4 (Released 2/14/2019)

  • Corrected a minor display issue on the Social Security optimization page
  • Modified the macro that sets defaults asset classes and allocations to establish a default setting for ROR on the Cash account to -1%.
  • Corrected the basis for unearned income medicare tax to include interest on the Cash account and interest on personal loans

Version 2019.2.3 (Released 1/29/2019)

  • Corrected the code that copies scenario 1 to scenarios 2 and 3 on the Healthcare Expenses page
  • Improved the conditional formatting on the tabular projection pages to prevent occasional inappropriate formatting of data as percentages
  • Eliminated a case that would allow QCD's to occur prior to the start of RMD's at age 70
  • Corrected the calculated floor and ceiling values of the fixed rate spending with floor and ceiling strategy

Version 2019.2.2.1 (Released 1/26/2019)

  • Installed the new digital signature which expires 2/3/2021

Version 2019.2.1 and 2019.2.2 (Released 1/24-26/2019)

  • Corrected an error which prevented auto-calculated Medicare premiums from being included in healthcare period 4.
  • Improved Monte Carlo and historical analysis success rate calculations
  • Corrected problem with the last row of the non-taxable windfalls on the Income page not being exported (this was a carry-over from PRC2018).

Version 2019.2.0 (Released 1/23/2019)

  • Corrected an error in the calculation of tax deductions and mortgage expenses on the Property expenses page
  • Corrected an error that potentially causes healthcare expenses to be moved forward by one year
  • Corrected an export error related to the COLA checkmarks for Scenario 1 on the Miscellaneous Expenses page
  • Corrected an error that was causing Monte Carlo analysis to always assume uncorrelated asset classes

Version 2019.1.5 (Released 1/21/2019)

  • Corrected a life insurance calculation issue in conjunction with January 1 birthdays; cleared life insurance table when marital status of "single" is selected
  • On the View Mgmt page, corrected an issue with some late versions of Excel wherein non-checked cells are replaced with dashes upon loading one of the default views.
  • Corrected a potential import issue introduced in PRC2019.1.4 relative to the import of the correlated asset control on the Run Analysis page (the checkmark was being corrupted during imports from PRC2019.1.3).
  • Corrected calculations on the amortization of FA/Personal Loan #2 and the interest payments in the final year of loans 1 and 2

Version 2019.1.4 (Released 1/19/2019)

  • Changed title on "Send a Message" function from "PRC2018 Question" to "PRC2019 Question"
  • Removed the write-protection on the correlated asset control on the Run Analysis page and corrected the import function to import it from an export data file

Version 2019.1.3 (Released 1/18/2019)

  • Corrected an error wherein manual changes to non-specific discretionary spending were not being saved when an analysis was performed
  • Implemented a change to the appearance of buttons on every page such that they would appear in Excel 2019 for Macs (working around another Excel for Macs deficiency)

Version 2019.1.2 (Released 1/17/2019)

  • Corrected the imports from PRC2018 to include marital status.
  • Corrected the source of a run-time error in the historical method of consumption smoothing

Initial Release of PRC2019 (Released 1/15/2019)

New Features

  • Implemented a bear market analysis page
  • implemented the modeling of Qualified Charitable Distributions

Significant Refinements over PRC2018

  • Redundant years/ages have been eliminated on the time axis of all graphs (in prior versions, this was an occasional artifact of the interpolation process used to create the dynamic time axis).
  • All tabular projections can now be customized, including the headers that span the selected data items.  With this feature, you can define eight views into PRC output data and include the exact data you want included in each view and in what order it appears in each view.
  • The customized tabular projections can be formatted two ways: with years as rows or with years as columns.
  • PDF reports contain the same customized views into PRC data as do the customized interactive views (i.e., tabular projections), thus providing better user control over the content of those reports.  Further, they can be printed with either portrait or landscape orientation.
  • Social Security income algorithm now models full retirement ages between ages 65 and 67 with 2-month granularity and, similarly, models benefit start ages with the same granularity
  • The Run Analysis page has been totally redesigned to focus on a single scenario, but with a much larger graph, improved visibility into the range of outcomes, integration of consumption smoothing controls as one of the optional spending strategies, and success rates over the final 10 years of the modeling period.  The new graph clearly shows the impacts of different spending strategies on fixed rate results relative to an established baseline.  The issue with occasional run-time errors on the Run Analysis page has been eliminated.
  • PRC pages have been redesigned to avoid the known issues in Excel 2016 for Macs so that Mac users can run the latest version of Excel with minimal quirky behavior.
  • A new graph has been added that illustrates all savings categories vs. income and expenses over time.  The taxes graphs have been retained but all other graphs of fixed rate projections have been eliminated.
  • Withdrawal rates are now calculated and can be included in any tabular projection.
  • Year-by-year asset allocations across all accounts are now calculated and can be included in any tabular projection.
  • Scenario descriptions are shown on all output pages.
  • The property expense pages have been enhanced to provide Improved control over start/stop of excess mortgage payments
  • Additional rows have been added to the Discretionary and Miscellaneous Expense pages
  • 30% reduction in file size relative to PRC2018
  • Made necessary mods to enable full support of HSA's
  • Tax tables have been updated to 2019 brackets


Version 2020.3.9.1 (Released 10/23/2020)

  • For the state of Tennessee, changed the tax rate on Interest & Dividends to 1% rather than the previous 3%.

Version 2020.3.9 (Released 10/22/2020)

  • Removed a regression error created in the course of developing v3.3.  We believe this error only appears in Excel 2011 for Macs.

Version 2020.3.8 (Released 10/13/2020)

  • Corrected an error in the projection of reverse mortgages
  • Corrected an error in the calculation of ACA subsidies in the midst of Roth conversions

Version 2020.3.7 (Released 9/15/2020)

  • Corrected an error introduced in v3.0 related to optimization of Social Security start ages

Version 2020.3.6 (Released 9/10/2020)

  • Resolved an issue that prevented selection of the last several data columns on the View Management page

Version 2020.3.5 (Released 8/14/2020)

  • Additional fine-tuning of tax-optimized Roth conversions

Version 2020.3.4 (Released 8/13/2020)

  • Corrected an error that prevented the spending strategy from reverting to the baseline setting when leaving the Run Analysis page.
  • Corrected an error that had the potential of displaying an incorrect marginal tax bracket when “long term capital gains” were actually losses rather than gains

Version 2020.3.3 (Released 7/16/2020)

  • Made a few updates to formats
  • Corrected an issue that prevented formulas on the user worksheet from working correctly when imported into a PRC file other than the one from which the export file was created.
  • Corrected an error that causes a totally white results matrix during Social Security start-age optimization for any scenario whose modeling period is shorter than the maximum modeling period across all three scenarios.
  • Corrected an error related to tax-optimized Roth conversions

Version 2020.3.2 (Released 4/3/2020)

  • Made a minor correction to the first-year calculation of Medicare premiums
  • Added code to the PDF report generator to eliminate the source of occasional run-time errors

Version 2020.3.1 (Released 3/13/2020)

  • Added one significant digit to the rate of success table on the Run Analysis page.
  • Made a minor adjustment to the Update Export File function
  • Corrected a conditional formatting error on the FA/Taxation page
  • Made a minor adjustment to the ACA subsidy calculation
  • On the Run Analysis page, the fixed rate expenses line is hidden (in addition to the Monte Carlo and historic analysis expenses bands) whenever the selection is made to hide the expenses portion of the graph.

Version 2020.3 (Released 2/15/2020)

  • Removed the inflation adjustment on the TCJA limitation on state and local tax deductions.
  • Added some additional input validation on the FA/Initial Balances page.
  • Made a few minor corrections related to the calculation of Social Security spousal benefits

Version 2020.2.8 (Released 2/8/2020)

  • Corrected a non-convergence error (an infinite loop) during consumption smoothing using the Monte Carlo method; this was a regression error introduced in v2.7

Version 2020.2.7 (Released 2/6/2020)

  • Corrected the standard deduction for Minnesota.
  • Made a minor improvement in the message on the Run Analysis page that indicates the average # of years that failed test cases run out of money prior to end of modeling period.
  • Made a small adjustment in the determination of the final year to calculate term life insurance recommendations
  • Corrected a run-time error condition introduced in v2.6.

Version 2020.2.5 (Released 2/3/2020)

  • Included the "Assume Correlated Asset Classes" checkmark (on the Run Analysis page) in the export/import process
  • Corrected a rounding issue that was causing tax-optimized Roth conversions to appear to oscillate between two adjacent tax brackets

Version 2020.2.4 (Released 2/1/2020)

  • Minor corrections to Global Clear, Children's expenses for the pay-as-you-go financing option and start/stop of spouse's Other Income stream #3.
  • Corrected the historical inflation rate for the year 2019

Version 2020.2.3 (Released 1/24/2020)

  • Corrected a regression error in the Update Export function to include user-specified historic data

Version 2020.2.2 (Released 1/22/2020)

  • Corrected a calculation on the AGI page (subordinate to the Graphical Projections page); this doesn't affect any projections; it's purely a minor display error.
  • Changed the validation logic on the starting year to allow values beyond 2020.

Version 2020.2.1 (Released 1/21/2020)

  • Made an adjustment to state taxable income calculations to treat SEPP's and unscheduled withdrawals from tax-deferred accounts the same as RMD's and Roth conversions.
  • Made an adjustment to the calculation of the "amount above next lower tax bracket" to show zero when in the 10% bracket

Version 2020.2 (Released 1/15/2020)

  • Made a minor change to the Global Clear function to pre-load some settings on the FA/Historic Data page.
  • Corrected the amount shown in the View Mgmt table for withdrawals from the Cash Account (display-only; does not affect projection of account balances)

Version 2020.1.10 (Released 1/14/2020)

  • Corrected a circular reference in state tax calculations for DE and LA

Version 2020.1.9 (Released 1/13/2020)

  • Made a minor correction in the calculation of effective tax rate

Version 2020.1.8 (Released 1/12/2020)

  • Released the write-protect on the "real inflation rate for indexing tax tables" field on the Home page
  • Corrected a failure mode in the historical analysis which resulted in a #Ref error in the warning field above the graph on the Run Analysis page

Version 2020.1.7 (Released 1/11/2020)

  • Corrected an error in the RMD reporting for the spouse's tax-deferred account.

Version 2020.1.6 (Released 1/10/2020)

  • Corrected an error in the Global Clear function: this was causing the TCJA of 2017 NOT to be the basis of federal income tax calculations

Version 2020.1.5 (Released 1/10/2020)

  • Made an additional fix related to single marital status; the error was causing a pop-up during an analysis which indicated the scenario was invalid.

Version 2020.1.4 (Released 1/10/2020)

  • Corrected an error that had the potential of erroneously declaring a scenario invalid for a single person whenever the hidden spouse fields on the Home page contained blanks for birthdate or life expectancy.

Version 2020.1.3 (Released 1/9/2020)

  • Corrected the link to the new user support webpage

Initial Release of PRC2020 (Released 1/8/2020)

New Features

  • Models the Affordable Care Act (ACA) with the associated subsidies, and Roth conversion modeling has the ability to avoid the ACA subsidy cliff when you purchase ACA health insurance.
  • Models cash value life insurance in addition to term life insurance
  • Models reverse mortgages
  • Models Health Savings Accounts
  • Contains two new optimization features: earliest safe retirement date and supplemental retirement income requirement
  • Models RMD’s and QCD’s per the Secure Act

Significant Refinements over PRC2019

  • Retirement dates are now specified as an actual date rather than an age, and the start and end of most income streams can be based on year, age, your retirement date or any specific date.
  • The Sensitivity testing page allows you to interactively explore the sensitivity of your plan to changes in retirement date in addition to other key variables such as life expectancy, inflation, rates of return, long term care expenses and Social Security start ages
  • Allows scheduled withdrawals from inherited IRA and Roth IRA accounts
  • Monte Carlo analysis provides more insight into cases where you run out of money
  • Contains updated Federal and State income tax tables
  • State income tax calculations now take into account individual and family limits on the major deductions, such as Social Security income, retirement income and RMD’s
  • Faster imports

Pralana Consulting LLC, Plano, TX

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