Use this tab to calculate the federally regulated disclosure projection that is required when opening a retirement account. Once information is entered in this field group and <Calculate> is clicked, the resulting projection is displayed in the Projection Results field group.
The fields in this field group are as follows:
Field
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Description
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Account
Mnemonic: WKTSEQ
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Use this field to indicate the customer retirement account to be used in the disclosure projection.
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Interest Method
Mnemonic: WKINMT
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Use this field to indicate the method of interest payment to be used in the disclosure projection. See below for a list of possible selections in this field.
01 - 365/365 Base Simple Interest
02 - 365/360 Base Simple Interest
03 - 365/364 Base Simple Interest
04 - 360/360 Base Simple Interest
11 - 365/365 Base Compound Interest
12 - 365/360 Base Compound Interest
13 - 365/364 Base Compound Interest
14 - 360/360 Base Compound Interest
21 - 365/365 Base Continuous Compound Interest
22 - 365/360 Base Continuous Compound Interest
23 - 365/364 Base Continuous Compound Interest
24 - 360/360 Base Continuous Compound Interest
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Retirement Type
Mnemonic: WKIRAT
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Use this field to indicate the retirement type to be used in the disclosure projection. Possible selections in this field are:
1 - Regular, Spousal or SEP (the projection assumes a $1,000.00 deposit at the beginning of each year)
2 - Rollover (the projection assumes a one-time deposit of $1,000.00)
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Interest Rate
Mnemonic: WKRATE
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Use this field to indicate the interest rate to be used in the disclosure projection.
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Service Fee
Mnemonic: WKSVCH
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Use this field to indicate a service fee (if applicable) to be used in the disclosure projection.
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Birth Date
Mnemonic: WKDT06
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Use this field to indicate the retirement account owner's birth date to be used in the disclosure projection.
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Age at Beginning of current year
Mnemonic: WKAGE
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This field displays the age of the account owner at the beginning of the current year. The name of this field changes depending on the current year. For example, the name of this field will be Age at Beginning of 2014 during the year 2014.
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Term
Mnemonic: WKTMTP, WKCTRM
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Use these fields to indicate the length of the account term to be used in the disclosure projection. Terms can be expressed in Days, Months, or Years. These fields are only valid if a certificate account has been selected in the Account field above.
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Penalty Code
Mnemonic: WKPNCD
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Use this field to indicate which penalty code to to be used in the disclosure projection. See below for more information.
The table below describes the penalty codes that are available in this field.
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