Model for Retirement Income Planning

Accounting Technology, July, 2006

Still River Retirement Planning Software has released two new versions of RetirementWorks II, the retirement income and distribution planning package introduced last year. One version uses Monte Carlo analysis to test financial plans under randomized mortality and investment experience, as well as with randomized medical expense costs, long-term care requirements, and high inflation scenarios.

The other combines Monte Carlo analysis with other stochastic modeling techniques to provide a faster-computing model more suitable for Internet use. According to the company, these two models supplement, but do not replace, the existing RetirementWorks II model that uses non-stochastic scenario testing. Licensees, says the company, can choose which of the three models suits their...

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