In addition to calculating periodic payment choices, the calculator will prepare customer letters reporting on the RMD, generate management reports, and update customer data, the announcement said. MasteryPOINT Financial Technologies, a retirement planning software developer, is the creator of the calculator.
The guide, created by employee benefits consulting firm McKay Hochman Company Inc., outlines how RMD rules work and provides examples of the application of the rules.
Peter Newkirk, president of Newkirk, said in the announcement, “We believe [the tool] will save many man hours by addressing this annual duty in a way that is simple and efficient, while retaining the personal stamp of the professional.”
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