Maintenance Update 9 30 2023

Overview:

The Sept. 30th update for 2023 is limited to minor fixes, enhancements and ADA refinements (except for the 72T calculators listed below). This update is optional, unless you have received instructions from us. All updates are cumulative, by skipping this limited update any changes to your package will be included in the next update release. To view the previous update package please see Calculator Update 6/30/2023.

Update instructions:

1. Download the latest version of your calculator update from your download site, found on your update e-mail notice.
2. Run the update package (KJEUpdate.exe). This is a self-extracting zip file. (Or unzip the KJEUpdate.zip file if you are using a non-windows platform.)
3. When prompted for a directory, you may use the default or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created with no subdirectories.
4. Copy the new files to your current deployment, replacing files with identical files names with the new ones.

If you wish, you can download the full calculator package from the same location, and refresh all files provided by KJE for your calculators. This package includes any site specific changes done for you by KJE, but will not include any customizations by you or your web-developers. Please contact us if you have questions regarding this new update package.

Master Changes (affects all calculators):

1. Default Mortgage Rates Increased: All mortgage calculators have new default rates, increased to reflect current conditions. Note that if you have previously used a calculator, you may need to reset the calculator to default to see the new rates. The new default rates are as follows:
   1. Default Rate for Fixed 15-year term : 7.00
   2. Default Rate for Fixed 30-year term : 7.50
   3. Default Rate for Adjustable rate : 6.00
   4. Default Rate for personal loans : 9.50

2. ADA and Screen Readers: Continued improvement ADA and screen reader functionality are included in this update to meet or exceed accessibility specification WCAG 2.1 Level AA and Section 508.
3. CSS and Layout refinement: Numerous fine-tuning adjustments to the V3 core deployment. This includes refinements to fonts, display and mobile device compatibility improvements.

Calculator specific updates:

1. 72T Calculator, 72T Distribution Impact (Retire72T.html, Retire72T2.html, Retire72Alt.html, SPRetire72T.html, SPRetire72Alt): The default "Reasonable interest rate" has been changed to 5.04% to reflect 120% of the current Federal Mid-Term rate as of September 2023.

2. HSA Calculators:: All HSA calculators have been udpated to included 2024 data in the definitions. They have also beeen updated to include a plan year for contributions. Please see table below for descriptions of change to each calculator.

   Health Savings (HSA) Calculators from Dinkytown.net

   Health Savings Account (HSA) Contribution Calculator	HSAContribution.html	Plan year added to inputs and definitions. Ability to select current year (2023) or next year (2024) and all applicable limits and rules for selected year will apply to the calculations.
   Health Savings Account (HSA) Goal Calculator	HSAGoal.html	Plan year added to inputs and definitions. Ability to select current year (2023) or next year (2024) and all applicable limits and rules for selected year will apply to the calculations.
   Health Savings Account (HSA) Savings Calculator	HSASavings.html	Plan year added to inputs and definitions. Ability to select current year (2023) or next year (2024) and all applicable limits and rules for selected year will apply to the calculations.
   Health Savings Account (HSA) vs. Traditional Health Plan	HSAvsTraditional.html	Plan year added to the report (defaults to the current year 2023).
   Health Savings Account (HSA) vs. Traditional Total Savings Comparison	HSATotalSavings.html	Plan year added to the report (defaults to the current year 2023).
   Health Savings Accounts (HSA) Employer Benefit	HSABusiness.html	Plan year added to the report (defaults to the current year 2023).

3. Beneificary RMD calculators for non-spouse beneficiaries not subject to the 10 year rule (RetireBeneficiary.html, RetireBeneficiaryCurrent.html, RetireBeneficiaryFuture.html):

   When the account owner started had Required Minimum Distributions and the beneficiary was born in the same year as the original account owner, if the account owner was younger than the beneficiary when comparing birthdates the calculator would use the account owner's age to determine the remaining life expectancy. The new calculation compares the year-end age of the beneficiary and account owner.

   This only impacts non-spouse beneficiaries that are not subject to the 10 year distribution rule.

   The updated definition now reads:

   If the account owner's age at year-end was younger than the beneficiary age at year-end, and it was past the required begin date for required minimum distributions when the account owner died, the beneficiary can choose to use the account owner's life expectancy to calculate Required Minimum Distributions (RMD). In this special case, the result will always produce a lower RMD. If this situation occurs, this calculator will use the account owner's age to determine the applicable life expectancy when calculating RMDs. Other than using the account owner's age at death, the calculation is identical to the one stated above.

4. Canadian Education Savings Calculator (CACollegeSavings.html, FRCollegeSavings.html):

   CESG income brackets updated to 2023 values: Update based on 2023 (below)
   Range 1: $0 to $53,359
   Range 2: $53,359 - $106,717
   Range 3: over $106,717

5. Canadian Mortgage Calculators Updated to include SAGEN in the Mortgage Insurance replacing Genworth.