In 1987, PenD’Calc Software’s first lines of code were written. The initial focus of the software was to answer questions in areas that were the focus of the financial planning community when dealing with pension distributions and significant pension values:
- What should I do with my Pension Distribution? With various income averaging options, minimum allowance, as well as the rollover option, there were a number of scenarios that needed to be modeled.
- What grandfather election should be made? What are the long term impacts of a steady $150,000 threshold vs. a much lower indexed threshold starting out closer to $100,000?
That was the beginning. The software was released locally in Pittsburgh, PA in 1988, and then nationally at the 1990 MDRT conference in New Orleans. And from there, over the next 25+ years we have continued to respond to our users and their client’s needs.
Our software has been a desktop based application since its creation. As a DOS application through 1997, a Windows application from 1995 through today, and as a “cloud based” application since November of 2013, the PenD’Calc Software suite has continued as a state of the art application that functions across a broad platform of hardware and OS options.
In 2002, we re-branded our company, integrating PenD’Calc Corporation into Clarity Software, LLC as the PenD’Calc Software division.
Over the years, in serving the banking, insurance, financial, retirement and estate planning communities, we have developed a number of industry leading applications:
- In the mid-90’s we released our ILIT Software that brought insurance (both 1st and 2nd To Die) into the estate and generational planning for the “triple taxed” pension and IRA assets. With income, excise and estate taxes, qualified dollar accounts were potentially subject to 70 or 80% tax rate at death. An ILIT illustration by PenD’Calc demonstrated the significant advantages of leveraging the qualified accounts with the use of an insurance policy in trust (ILIT).
- Although we’ve been illustrating IRA stretch calculations since 1993 as part of our Advanced PenD’Calc Software, we released our 1st significant standalone Stretch Software in 1997 for both Traditional IRAs as well as Non-Qualified accounts. Certainly one of the most widely used apps, our software has illustrated 100s of billions in IRA account value and has sold 10s of billions of annuity products over the years. (Click here to view a copy of our newest Stretch Software PDFs … Sample 1 & Sample 2).
- Over the years we continued the development of more sophisticated analytical software focusing on qualified dollars, retirement distribution and estate planning.
- In 2012 we released an application within our software that illustrates the use of an IUL product as a compliment to a Traditional IRA or Non-Qualified Retirement account.
- We continue to develop some of the best Qualified Distribution Management Software in the market place, and with our newest addition to our IRA vs Roth Generational Software (Click here to view a copy of our newest illustration… Sample 1) we continue to stand alone in this market.
- As 2018 approaches and we finish all the changes required by the new tax law (just passed), we are planning to release a Stretch IUL variant of the our software. It’s amazing what $250k can do when redirected into insurance and then Stretched to the beneficiaries via a distribution to individuals IULs. (Click here to view a copy of the Stretch IUL Graph).
As always, we have used the guiding theme “Simplicity to the Nth Degree” in developing each and every one of our exceptional applications.