SEPP calculator for pre ’03 rules
L1: SEPP calculator for pre ’03 rulesDoes anyone know of an available calculator for continuing on with a SEPP established under single life, amortization, annual recalc several years (12/2000) before defined acceptable rates changed to the current figures.I left thebroker that had provided this annually. I am 58 (1/6/1958) as of tomorrow so I only need to deal with this for 2 more tax years. Is it as simple as amortizingthe payment based on the 1983(a) life expectancy table using the original interest rate of 9% andthe 2015 year end balance?2016-01-05 21:29, By: smef, IP: [18.104.22.168]
L2: SEPP calculator for pre ’03 rulesJust my thoughts, but…
You post is interesting. Annual recalculation assumes that in each year, the age changes, the balance changes and the interest rate changes.
If you have been retaining a constant (non-recalculated) interest rate, you maybe should have stayed with your previous broker. You may also want to find the original documentation where someone put in writing that you could freeze the interest rate at 9%… you may need it if you get audited. You should also have the initial details used in the calculation.
I don’t know of any calculators using the old assumptions – you may just want to do a Google search. You may also be able top pay a financial planner to do the calculation based on your assumptions… my guess is that you will receive a calculation note that the assumptions are yours, based on your assumptions as requested in writing by you.
Good luck2016-01-05 22:04, By: Gfw, IP: [22.214.171.124]
L3: SEPP calculator for pre ’03 rulesConsidering the accumulated calculationexposure this late in the game, you should endeavor to make 2016 your last year of distributions under this plan. You do not have to take any distribution in 2017 prior to your plan modification date of 7/7/2017. It may take some budgeting to make your 2016 distribution cover 18 months of expenses. It would be one less year that you would have to report early distributions and filea 5329 claiming the penalty exception. Of course, you have complete freedom of distribution amounts as of the modification date next year.2016-01-06 01:25, By: Alan S, IP: [126.96.36.199]