August 2015: What’s Changed in This Update?

The update put into place on August 12, 2015 includes the following changes.  We hope this will answer most questions. Watch the recorded webinar or book time with a coach if your question is not addressed here.

Click here to view the recording of the August 12 webinar

Branded Annuity Products including Early Withdrawals

RetireUp is excited to be able to illustrate Allianz Fixed Index Annuities, particularly Allianz Core Income 7℠ and Allianz 222®, directly within client Retirement Income Models.

You still have the option of proposing and saving fixed index and variable annuities from other carriers by choosing “Custom” and naming it as desired. Your existing custom product list, if applicable, is still accessible to you. RetireUp is aggressively working with other companies to be able to showcase other products with the same level of ease.

You can look forward to more annuity products and life insurance in the future!

Enhanced Client Presentations

  • A new Assumptions Page more clearly outlines all assumptions reflected in the results. Many RetireUp users have requested more explicit communication of these items in their presentations.
    • You will not see the Assumptions page(s) until you download the PDF.
    • Each time you click “Add to Presentation” a new Assumptions page will be added as well.
  • If the plan includes a variable or fixed index annuity, whether being modeled via Compare It or an annuity in the Asset screen, any presentations will automatically create additional slide(s) modeling a 0% return and resulting yearly credit on the annuity. The purpose of the 0% growth rate is to demonstrate minimum guarantee. These slides are identifiable by the slide title which will be appended with “with Guaranteed Values and Factors.”
    • On-screen you can familiarize your client with these minimum performance assumptions by clicking the “Show Rider Minimums” box.
  • Some additional footers may be displayed adding clarity to terminology used in the presentation or directing the client where more detailed information can be located. These footers are conditional and only appear when necessary.

Smarter Defaults and Wording in Asset Creation Screens

  • Choose Qualified or Nonqualified first, then owner.
    • The order used to be reversed, and more confusing as a result, especially if you had a joint asset to enter.
  • Choose between “Control on the Retirement Page” returns (using slider) or “Set fixed return for this asset only.”
    • The labels used to be “Variable Return” and “Fixed Annual Return.”
    • Only the labels have changed; the functionality is the same.
  • New options / shortcuts on your withdrawal options have been added
    • “Let the system determine” will set that asset in a drawdown status initially.
      • This is the most common choice among users trying to evaluate how long the portfolio can last.
    • “Fixed withdrawal rate” will set a specific rate to withdraw; when you select this option, you can define what that rate should be.
      • This is seldom used but can come in handy for an Inherited IRA cash flow simulation.
    • “Don’t use for income” will appear on the Retirement Plan page, accumulate based on your growth assumption, but automatically sets the asset to a 0% withdrawal rate initially.
      • This is commonly used to preserve a rainy day fund or to show appreciation on real estate they hope not to liquidate.
    • “Only use for net worth” will not appear on the Retirement Plan page, accumulate based on your growth assumption, but can only be seen in the Presentation and included in Ending Assets & Ending Estate values on the Retirement Plan.
      • This selection may be appealing for clients who want to see a comprehensive Net Worth statement.


Topics: Announcements