Reviewing contributions and withdrawals - Global

In this video, I’ll walk you through how to review contributions and planned withdrawals in your client’s plan.

The first place I recommend reviewing this information is in the Year View section under the Investments tab. From here, you’ll be able to see all of the contributions scheduled for the various investments in your client’s plan. You can scroll across each year to review what is being contributed and withdrawn throughout the lifetime of the plan.

As you move into the retirement years, you’ll begin to see the decumulation phase take effect. You’ll be able to review the withdrawals occurring from each investment account. If you click on an investment, it will open the account details and provide more information about the withdrawals taking place. You’ll also see the end-of-year balance listed for each account.

You can continue scrolling all the way to the end of the plan to review the projected balances remaining at mortality, as well as any withdrawals scheduled between retirement and mortality.

If you’d like more control over which accounts are being withdrawn from during retirement, you can do that by returning to the Dashboard.

The first thing I would suggest reviewing is the Liquidation Order in Plan Settings. Here, you’ll see the default liquidation order for the plan. You can click and drag the account categories up or down depending on the order in which you would like assets to be liquidated.

Another option is to go into each individual investment account and set the withdrawal limit to Scheduled Only. This allows you to more precisely control withdrawals by adding planned withdrawals directly to the account.

To do this, add a planned withdrawal and give it a name. You’ll have several withdrawal options available, including:

• All Available
• Percentage
• Amount with Inflation
• Dividend Income
• Maximum Without Penalty

In this example, I’m going to select a percentage withdrawal and set it to 10% each year until the account is depleted.

I’ll make this withdrawal recurring, then go to Update Timing. I want the withdrawals to begin at retirement and continue until mortality, so I’ll set retirement as the start event and mortality as the end event.

Now we can see that the withdrawal starts at retirement and continues until either mortality or the account runs out.

If you turn on the account details, you’ll notice the planned withdrawals are highlighted in yellow. You can also return to the Year View and scroll to the years when those withdrawals begin occurring. There, you’ll see the withdrawal listed under the Scheduled section, along with the amount being withdrawn from the account.

I hope this was helpful. If you have any questions about how planned withdrawals work or how to set them up, please reach out to us for support.

To do that, click on your client’s name in the top-right corner, select Request Support, enter your question, and share client access with our team.

Thanks for listening!