TRAK is a vivid retirement illustration software tool for working with participants, whether working one-on-one or with groups (by importing data and creating batch reports). TRAK provides a variety of vivid illustrations for retirement needs, enrollment or other related items. If it is you and the participant, or you and a group of 1,000 participants, TRAK provides retirement illustration tools for educating them in terms they understand. Quickly. Clearly. Show your prospect instantly what used to take 30 minutes to explain. Make abstract ideas concrete. Batch Processing allows for creating customized reports for a group after importing census data. (Census data may be quickly imported using TRAK's Import Wizard). Then TRAK's Batch Processing tool may be used to create reports for each individual in the group, either for enrollment or re-enrollment (typically the Batch Paycheck report) or review their current situation using the Batch Gap report.
Quick Gap (previously called the pension calculator) is a quick analysis of a participants retirement need, current sources of retirement income and shortfall (if any). The Quick Gap calculator includes projections for defined contribution (DC) and defined benefit (DB) plans. Many state retirement systems are built into the software (or can be quickly added), private DB plans can also be added.
Paycheck Analysis instantly compares a prospect's current paycheck and compares it against other options: what if they contribute more? what effect will that have on the value at retirement? how much will reducing the prospect's pay by a specific dollar amount affect their paycheck? Includes projections and payout illustrations, and moving a federal 1040 return into the qualified plan.