This table shows the transactions that occurred for this account, listed in chronological sequence. A typical row shows the year, the dollar amount, and a description of the transaction event. Some years may show more than one transaction. Some years might be skipped if there were no transactions to report. Use this table to help understand the summary column values shown in the Year End Results table.
A trace request can show you a trace of transactions for a selected year. This can help you understand the data shown in the transaction journal after a calculation. To create this trace file, use the drop down "Request Trace..." menu item under the "Tools" menu. Enter the year you want to trace and click Ok. The next calculation run produces a log file of the transactions in chronological sequence. Use the drop down "View Last Trace" menu item under the "Tools" menu to see the trace output.
Year End Results
This table shows a row of summary figures for each year that plan values are calculated. The first column shows the year of the row's calculated values.
The Start Balance column shows the dollar value of the account at the beginning of the year. It is the same as the End Balance of the prior year.
The Earnings column shows the dollar amount that the ROI (Return On Investment) rate earned on the start balance for the year. The ROI rate used is the special rate you specified for this account, or else it is the plan's global rate you specified as part of the plan's parameters. If the account is a taxable account, the tax due on the earnings is calculated. The after tax value of the amount earned plus the start balance is available for the account's pool of money for the account's year-end disbursements.
The Receipts column shows the dollar amount that came into the account aside from the ROI earnings amount. This can be a deposit amount that was specified by you for this account. Deposits represent new money coming from outside sources and they cause a net increase in the plan's money.
Receipts can also be a transfer from another account as specified by you for the other account. This transfer results in a decrease in the other account's value. So unless there is a tax consequence that results in a tax payment in the other account, there is no net change in the plan's money.
Receipts can also be the result of a cost instruction specified by you for this account. A cost instruction means that the specified money must be added to the account, but it comes not as a transfer from another account, but from the plan's pool of money collected for your retirement living expenses. So it adds to the dollar amount required for that pool. When calculating each year's results, the amounts from all the plan's costs instructions are added to the retirement living expense to obtain the total money needed in the year-end pool.
You can specify yearly withdrawal amounts for this account. Withdrawal amounts are considered to be used for retirement expenses and are shown in the Retiree Payouts column.
The plan's year-end retirement expense pool money comes from all the withdrawals you specify on all your accounts, plus pensions and other income, plus mandatory distributions from IRAs. If this is not enough, then more money is withdrawn from any or all accounts that are available for supplying money for expenses. These accounts are tapped in the sequence specified by you in the plan's parameters.
The cost amounts are removed from the pool and distributed to the receiving accounts.
The retirement expense amount is deleted from the pool to reflect its disbursement to the retiree. Any amount left over is transferred to the account specified by you in the plan's parameters as receiving any surplus. A surplus can exist if your pension and other income plus your mandatory distributions from IRAs are more than your retirement expense.
Click on the Transaction Journal tab and check the transactions to see how the receipts are obtained. They could be more than one transaction, in which case the amount received is the sum of all transactions. The transaction journal also describes the transfers out.
The Tax Payments column shows the dollar amount paid in taxes for the year's taxable events. Money earned at the ROI rate is taxed if the account is a taxable account. Money withdrawn or transferred out of a tax-sheltered account may have a tax amount deducted from the proceeds. Click on the Transaction Journal tab and check the transactions for information about the tax transactions.
The Transfers Out column summarizes the dollar amount transferred to other accounts from this account. You specify these transfers for this account. This is the before tax (if any) amount removed from the account because of transfer instructions.
The Retiree Payout column shows the dollar amount removed from this account to add to the pool of money available to cover your retirement living expenses plus all the costs you have specified for other accounts. This is the net amount available for use for the expenses. The transfers out and the tax payments are additional deletions from this account.
The End Balance column shows the dollar amount left in the account to start the next year.