The Analyzer will accommodate new tax law provisions allowing for more in-plan Roth conversion options. It is a companion to Newkirk’s existing Roth Savings Analyzer. Created by Newkirk’s MasteryPOINT subsidiary, the online analyzer includes an interactive tutorial summarizing the in-plan conversion options and a conversion analyzer tool.
“Now that plans can allow participants to convert plan dollars into the Roth option, new tax-planning opportunities have been created,” said Pete Newkirk, president of Newkirk. “We see news stories every day about participants needing more and better retirement education and guidance. The Roth Conversion Analyzer enables providers and advisors to help these participants understand the new options and determine a strategy that makes sense for them.”
The Analyzer can:
- Capture participant and spouse demographic and tax information;
- Capture current balance and savings information; and
- Provide an estimated balance at retirement for three conversion scenarios (no Roth conversion, partial conversion to a Roth using existing savings, and complete conversion to a Roth).
The Analyzer provides a side-by-side comparison of the projected results and can help participants determine what works best for them. To sign up for a demonstration, visit http://www.newkirk.com/RothAnalyzer.