Still River’s RetirementWorks®II Offered to NEA Members by NEA Member Benefits

October 19, 2010, Harvard, MA – Still River today announced that its RetirementWorks®II retirement planning software is being offered at a substantial discount to NEA (National Education Association) members who are approaching retirement or who are already retired. The discount offer is provided to NEA members through NEA Member Benefits (NEAMB).

Chuck Yanikoski, President of Still River, explained, "NEAMB recognizes that the financial planning needs of seniors are complex, and the consequences of inadequate planning can be serious." NEAMB offers RetirementWorks®II to NEA members through its website, neamb.com, as a tool to help educators plan for retirement.

RetirementWorks®II is a holistic system that provides advice based on comprehensive, detailed, and integrated analysis. The online program queries users on a wide range of financial and non-financial topics to identify the specific issues that apply to their individual households. RetirementWorks®II then evaluates the long-term adequacy of the family’s financial position and recommends actions to take.

Just a few of the questions that the system answers are:

• Can I afford to retire when I want to?
• When should I sign up for Social Security benefits?
• What should I be doing about health coverage and long-term care insurance?
• Can I afford to stay in my home, or should I consider selling and downsizing?
• If I stay in my home, should I pay off my mortgage, or tap into the equity?
• Do I need more life insurance, or should I reduce the amount I already have?
• Which of my assets should I draw from first?
• Do I have the right legal documents in case I die or become incapacitated?
• What should I do to provide for a special needs child who might survive me?
• Would an annuity help me meet my financial goals?
• What should I do with my pension plans?

RetirementWorks®II is a comprehensive and easy-to-use online retirement planning program. NEA members can visit http://www.NEAMB.com/RetirementWorks to learn more about RetirementWorks®II.

Still River Retirement Planning Software, Inc., leading producers of software for retirement planning, is located in Harvard, MA. For more information, e-mail Chuck Yanikoski at csy@StillRiverRetire.com.

Humberto Cruz reviews RetirementWORKS2 for You™

For financial professionals, recommending a Roth conversion is a risky business, not unlike gambling. Our latest paper, "The Roth Conversion Gamble", explores the factors that determine whether a Roth conversion is a good idea or not.

Given that the factors themselves are volatile and difficult to predict, we propose that the rational approach is to hedge one's bet. Read our paper to find out how.

Our latest paper, "The New Wild West: Integrating Financial and Life Planning in the Second Half of Life" is now posted on our Analyses for Professionals page. Read how retirement is like the old frontier: a time of development, fulfillment and transformation, yet surrounded by threats and risks. As in the old Wild West where the best guides knew something about everything: the land, weather, sources of food and water, etc., the guides of the new retirement frontier need expertise in investments, career counseling, psychology, life coaching, insurance, health care, and more.

What wisdom can we glean from the recent and ongoing disasters in the financial markets? And how do we apply that wisdom to our efforts to help retirees and near-retirees plan for their future? Read our newest paper, "Retirement Income Planning Lessons from the Economic Meltdown" for our thoughts on strategies that have now been proven harmful and alternatives that are safe and sensible. As always, we welcome YOUR thoughts.

Still River today announced the release of new software to support ongoing compliance with the new IRS regulations requiring 403(b) plan sponsors to monitor participant loans and hardship withdrawals. The new regulations go into effect this coming January.

Taking advantage of the new industry standards for financial vendors for providing periodic loan and withdrawal data to plan sponsors, the 403(b) Loan and Hardship Withdrawal Compliance Utility makes ongoing monitoring simple enough for plan sponsors to do themselves. The utility can also be used by local consultants and field reps, and is available for larger financial firms and marketing organizations to provide to plans sponsors or field reps whom they support.

The software is based in Microsoft Excel, so that it can easily be used and, to some degree, modified by purchasers. It is so easy to use, that once the necessary data files have been received from vendors, all the user has to do is select the month and year and then click a single button. The software does the rest of the work.

Still River today released its newest paper, "Piercing the Monte Carlo Mystique in Retirement Planning". This paper explains that the inherent, conceptual problems with Monte Carlo and other stochastic models that presuppose events are random, future probablilities can be known, and probablilities of success can be calculated, are not only inadequate for retirement income planning, but are possibly dangerous. It goes on to show that alternative approaches that are based on risk reduction and contingency planning are far more appropriate for this market.

Still River announces the unveiling of the RetirementWORKS II® for YOU website. To learn more about it please visit us.

RW2 for YOU™ is unlike any other retirement planning software you’ve seen. Based on the same cutting edge technology that underlies our products for financial professionals and institutions, RW2 for YOU™ is more than a calculator. It is a sophisticated program that provides comprehensive and integrated retirement advice based on your own unique circumstances. Until now, it was available – if at all – only through professional financial advisors.

Despite its extraordinary power, RW2 for YOU™ was designed to be clear and easy to follow. Whether you’re comfortable with numbers, or prefer concepts and descriptions; whether you are patient with detail or not, RW2 for YOU™ adapts to your style. In plain English, it asks you questions about your family situation, your goals and concerns, and the specifics of your finances – limiting the questions to only those that apply to you. Based on the information you provide, RW2 for YOU™ evaluates your financial situation, and makes clear, understandable recommendations for your retirement. And it provides detailed explanations. Though some questions might require a professional’s advice in order to implement, you will understand what they mean and why they were made.

Do the new IRS permanent regulations spell the end of the 403(b) market as we've known it? Read our newest paper, "Whither Goes the 403(b) Market in 2008?" for our thoughts on the impact the regulations will have. How will Plan Sponsors react? What are their choices? And how can product providers help them? We share our thoughts with you - and we'd like to hear yours!

Still River today announced the 2008 release of its 403(b) Contribution Planner® and its 403(b) custom design services for the new regulatory environment.

Already the leader in 403(b) compliance, Still River is the first to offer software that complies with the latest IRS regulations that includes 2008 calculation factors. The company acknowledges, however, that this is just the beginning of the process toward capturing opportunities that the new regulations are creating. "No one yet knows the full impact the new regulations will have, but most agree that a shake-out is coming." observed Chuck Yanikoski, President of Still River. "We've already received a number of inquiries about custom software to help product providers and marketing organizations meet these new challenges, and we expect a surge of interest among the more creative people in this market who see these changes as an opportunity."

Our latest paper, "The Greatest (and Unrecognized) Financial Risk for Retirees" is now posted on our Analyses for Professionals page. Read about how Planning Risk, the risk that arises from poor financial decision-making, is the greatest risk to retirees. Poor planning magnifies exposure to all other risks, and lack of planning - or faulty planning - can lead to a financial disaster even if other risks don't materialize. Find out what role the financial industry plays in Planning Risk and what you can do to mitigate this risk.

Still River's newest paper on retirement planning, "Half-Baked Investment Concepts for Retirees", is now posted on our Analyses for Professionals web page. This paper looks at the three most popular investment models offered to retirees by investment professionals, and shows how they are potentially harmful rather than helpful.

Still River today posted its new paper, "Retirement Income Planning, Part 15: Can the Retiree Market Be Profitable for Advisors?" This latest paper in the series on retirement income planning looks at the time consuming nature of serving the retiree market, and proposes a solution to make the process more cost effective.

"Planning for older clients is far more complex and time consuming than for younger ones, and the stakes for the client are far higher," noted Chuck Yanikoski, Still River President. "Not only does it cost more for advisors to serve retirees, their financial rewards also tend to diminish. How can we make this business cost effective? The solution is a planning process that is comprehensive, detailed, and integrated, but that requires a minimum of effort from the advisor and his/her staff. By having the client collect and input the data and the computer perform the extensive and complex calculations, by the time the advisor even sees the case, the data has been collected and input, the analysis performed, the recommendations generated, at the preliminary reports ready for the advisor to review."

Still River's solution is RetirementWorks® II, a holistic, comprehensive retirement income planning program. RetirementWorks® II is available for either desktop or web and, despite its complexity and power, is extremely easy to use and simple to understand.

Still River today announced the release of RetirementWORKS® for YOU, a new retirement planning tool for consumers who are approaching retirement or who are already retired. The financial planning needs of seniors are much more complex than others, and the consequences of inadequate planning are much more serious. Until now, no software, available commercially or provided by financial companies, comes close to meeting the real needs of people facing retirement.

RetirementWORKS® for YOU is an easy-to-use internet application that provides advice based on comprehensive, detailed, and integrated analysis. Instead of asking just a few questions, it asks for a wide range of financial and non-financial information, which it then uses to identify the specific concerns that apply to the individual's household. Then it recommends a plan of action and evaluates the long-term adequacy of the individual's financial position.

Still River's new book, "Nine Keys to Winning Baby Boomer's Assets at Retirement" is now for sale on our web site. This is the first book to focus exclusively on corporate strategies for the retirement income market. Written for CEOs and other senior executives who have strategic responsibilities in the retirement market, it is also a must read for anyone involved in planning or marketing in this field. Click here for more information and to order.

Still River today posted its new paper, "Retirement Income Planning, Part 14: Are We Missing the Boat on Retiree Expenses?"". This paper begins with the premise that if we don't understand what the retiree's expenses are, and if we cannot project with reasonable accuracy what they will be in the future, then no amount of sophisticated manipulation on the income side is worth much. The paper argues that using the distinction between necessary vs. discretionary expenses as a guide for investment strategy (using guaranteed income to cover necessary expenses, but investing more agressively with funds earmarked for discretionary items) is dangerous. It points out that almost all expenses are necessary to some degree, but the degree to which we indulge in them is discretionary, and shows how they can be projected into the future.

"When it comes to financial decision-making, expenses are more important than income because in almost all cases, retirees have more discretion about expenses than they do about income. If we focus on only the income side, we won't be able to serve them. Then the assets that they do have will go somewhere else, to some company that can do the analysis right." noted Chuck Yanikoski, President of Still River.

Still River's holistic retirement planning software, RetirementWorks® II, provides advice to retirees based on a systematic, integrated analysis of all household cash flows, rather than on investment analysis or other isolated aspects of the retiree's situation.

Still River today released a new paper, "Providing Personalized Financial Advice to Your Retiring and Retired Employees". This paper looks at why it's important for employers to provide their employees and retirees with access to good, sound, financial advice that addresses all the problems that retirees face. With the move away from defined benefit plans to defined contribution plans, and in the wake of cutbacks in pensions and post-retirement medical benefits, good financial advice can help retirees use wisely what benefits they do have, and can help mitigate their panic at all the financial decisions they need to make.

"The need for financial savvy does not end when employment ends," said Chuck Yanikoski, President of Still River. "On the contrary, financial decisions suddenly become more difficult and more freighted with risk. It only seems right that employers who have helped create this situation should also help resolve it."

RetirementWorks® II, Still River's comprehensive retirement income planning software, is based on a holistic approach to retirement planning, and strives to answer all of the major financial questions that retirees face, including the option of accepting an early retirement offer. RetirementWorks® II is available for either desktop or web, is extremely easy to use and simple to understand, and costs just a few dollars per employee - a small fraction of what most benefits cost.

Still River has just posted its new paper, "Retirement Income Planning, Part 12: The Fallacy of the One Best Solution". This paper proposes that instead of throwing all their resources at developing the perfect retirement income planning program, which is an impossible feat, they would be better off launching multiple initiatives on an experimental basis and letting the market decide which work best.

Still River's own approach, RetirementWorks® II, is a broad-based, integrated, "financial planning" approach to this market. Chuck Yanikoski, President of Still River, said, "We feel it is the best overall approach, but it isn't the best for every situation. Many practioners want a much simpler approach, others want a highly sophisticated investment analysis, and others want to focus on a particular product area. If you pick any one of these approaches, you are leaving people out or serving them inappropriately. Instead of trying to design the One Best Solution, which won't be the best for every situation, for the same investment of time and money you can pilot a variety of ideas which will yield market-based, solid information about what really works for your company and what doesn't."

"It's in everbody's interest - financial providers, vendors, employers, and most of all consumers - to get this business moving," he continued. "Every day thousands of people retire, and right now we are failing them. That is a shame and a missed opportunity for all of us."

Still River's new paper, "Retirement Income Planning, Part 11: Early Retirement Offers as a Special Case and a Special Opportunity" shows how financial advisors can provide comprehensive analytical services to employees receiving early retirement offers, not only expanding his or her business, but also providing an extraordinary, useful service in the community.

RetirementWorks® II, Still River's comprehensive retirement income planning software, has a new enhancement that analyses early retirement offers. This module is centered on cash flow analysis and examines pension and health benefits, severance pay, new job opportunities, and the potential adequacy of all of these.

Still River releases the 10th in a series of papers, "Retirement Income Planning, Part 10: Risk Analysis and Calculation Methods". This paper examines the benefits and flaws of deterministic vs. Monte Carlo and other stochastic models for computing and illustrating the financial risks that retirees face. It further explains how the two methods work, suggests that some combination of both is preferable for retirement income planning, and looks at several possible mixed models.

Earlier this month, Still River released two new versions of RetirementWorks® II, the retirement income and distribution planning package introduced last fall. The original version uses non-stochastic scenario testing. The new versions add further options: one uses Monte Carlo analysis to test financial plans under randomized mortality and investment experience, 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.

RetirementWorks® II is based on a holistic approach to the retirement income market, and strives to answer all of the major financial questions that retirees face. RetirementWorks® II is available for either desktop or web, or both, and works

Still River announced today 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 new version combines Monte Carlo analysis with other stochastic modeling techniques to provide a faster-computing model more suitable for internet use. These models supplement, but do not replace, the existing RetirementWorks® II model that uses non-stochastic scenario testing. Licensees can choose which of the three models suits their needs best.

"This is, quite frankly, a debatable point," observes Chuck Yanikoski, Still River’s President and chief software designer. "Everyone agrees that when one is doing planning for retirees, mortality, investment, and other risks need to be taken into account. Monte Carlo models were the first ones on the scene capable of doing that. This does not make them the best, but it does give them a certain cachet. Unfortunately, Monte Carlo modeling can easily be misapplied, and results can be hard to interpret. By adding this option to a model that is already, and by far, the most robust available in terms of analyzing the financial needs of the elderly, we can now offer financial companies and advisors the best of both worlds. And, I might add, at a reasonable cost."

RetirementWorks® II is available for either desktop or web, or both, and works nearly identically in either environment.

Still River releases the ninth in a series of papers, "Retirement Income Planning, Part 9: Are New Products a Solution or a Stopgap?". This paper looks at some of the new product developments in the Retirement Income Planning market and shows how most are of marginal value to retirees, even when they first appear to be revolutionary, and that the real beneficiaries of these new products are the financial services companies themselves. The paper goes on to posit that new products should be only one component of services provided to retirees, and that to succeed in this growing market, companies must provide all the assistance retirees need.

Still River has been studying the needs of retirees since 1991. Our newest software offering, RetirementWorks(R) II is based on a holistic approach to this market. RetirementWorks® II strives to answer all of the major questions that retirees face, while being extremely easy to use and simple to understand. RetirementWorks® II is available for either desktop or web, or both, and works nearly identically in either environment.

Still River today announced that its new retirement income planning software, RetirementWorks® II, is now available for licensing. RetirementWorks® II is the first system that provides advice to retirees based on a systematic, integrated analysis of household cash flows, rather than on investment analysis or other isolated aspects of the retiree's situation. The approach is a holistic one: if you can't answer all of the retiree's financial questions, then you can't adequately answer any of them because they are all interrelated. Given the stakes, anything less verges on financial malpractice.

RetirementWorks® II was launched in beta test version on March 31, 2005. Over the spring and summer the system was used in test cases by dozens of financial advisors, insurance and mutual fund company representatives, and consumers, while it was also undergoing rigorous in-house testing by Still River. Even though the test period has officially ended, Still River will continue to vigorously pursue a high level of quality control. We believe that, while perfection is always just out of reach, in this market we need to get as close to it as possible. If retirees receive inappropriate advice, by the time it becomes apparent it is probably too late for them to recover. We must do everything we can to get it right the first time - and we must continue to monitor their financial situation as they progress through their retirement years.

For more information on this new system, please visit the RetirementWorks® II page.

Still River releases the eighth in a series of papers, "Retirement Income Planning, Part 8: What Income Planning Will Look Like in 2010". This paper looks at how retirement income planning differs from retirement accumulation planning, where this new Baby Boomer retiree market is heading, and who will emerge as the key competitors in this market and why they will be successful.

Still River has been studying the needs of the retirement income market since 1991. Our newest software offering, RetirementWorks® II, released in beta version this spring and scheduled for general release this fall, is the first software available based on a holistic approach to this market. RetirementWorks® II strives to answer all of the major questions that retirees face while being extremely easy to use and simple to understand. RetirementWorks® II is available for either desktop or web, or both, and works nearly identically in either environment.

Still River releases its seventh in a series of papers on retirement planning, " Retirement Income Planning, Part 7: Toward Truly "Holistic" Planning". Holistic", the newest buzzword appearing in discussions of retirement income planning, suggests more than product-specific approaches, more than particularistic sales concepts such as $quot;inherited" or "stretch" IRAs, and more than quick answers to one or two financial questions. This paper explains why a truly holistic approach to retirement income planning is necessary, and specifies in detail the range of issues it needs to cover.

A holistic approach to retirement income planning requires analytical tools that are truly comprehensive, professional advisors who have the training and patience to deliver holistic advice, and a process that is not too grueling for the retirees to participate in.

Still River's newest software offering, RetirementWorks® II, released in beta version earlier this spring, is the first software available based on this holistic approach.

RetirementWorks® II strives to answer all of the major questions that retirees face while being extremely easy to use and simple to understand.

RetirementWorks® II is available for either desktop or web, or both, and works nearly identically in either environment.

Still River today released the beta version its newest software system, RetirementWorks® II. RetirementWorks® II is a revolutionary new system designed to enable the retiree or soon-to-be retiree to understand his or her household financial situation, and to make appropriate decisions that will help the family achieve its financial goals.

Unlike other existing models, RetirementWorks® II strives to answer all of the major financial questions that retirees face. For people about to retire, making so many decisions at once is complicated because the decisions are all interrelated, and, once they retire, their ability to recover from major financial mistakes is vastly reduced. To adequately serve these people, RetirementWorks® II looks at all issues in an integrated fashion and produces one or more suggested plans of action, each containing specific recommendations about what financial choices and changes should be made. Each plan is evaluated with a simple "report card" that anyone can understand, which grades the plan under both "expected" and adverse circumstances. If the plan is unacceptable for any reason, it can be modified until the results are satisfactory.

RetirementWorks® II is designed to be used by the financial professional on behalf of clients, by clients themselves, or by a combination of both. Despite its thoroughness and sophistication, RetirementWorks® II establishes a new level of consumer-friendliness; it is so easy to use that whoever pays the household bills can easily enter the necessary data directly into the system, saving the financial advisor's time for the analysis and reporting phase. The system also adapts to the user's style: in a hurry or not, comfortable with numbers or not.

RetirementWorks® II is available for either desktop or web, or both. The system works nearly identically in either environment.

Still River releases its sixth in its series of papers on retirement planning, "Retirement Income Planning, Part 6: Providing the Information That People Need". This paper discusses a critical component of the retirement planning process: the report that is delivered to the client. By initially concentrating not on showing or selling product, but on providing a detailed report that tells clients specifically what to do to have a satisfactory retirement, even under certain adverse circumstances, advisors take a big step toward giving clients the advice, comfort and help that they are looking for. Only after the client has understood and accepted the recommendations is the advisor positioned to identify and sell the financial products needed to implement the plan.

Still River is building this report functionality into its new comprehensive retirement planning system, RetirementWorks® II. A prototype, in both desktop and web versions, is planned for March 2005, followed by more comprehensive versions in late 2005 and 2006. For more information on this new system, please visit the RetirementWorks® II page.

Still River releases the 2005 version of the 403(b) Contribution Planner® in both desktop and web versions. The 2005 edition is fully compliant with the new 403(b) regulations announced by the IRS in mid-November. Among the updates to the system are the new definitions of "Health & Welfare Service Agency", "Controlled Group", and the 5-year limit on post-retirement contributions. Other enhancements include 2005 qualified plan contribution limits, updates to Social Security factors and federal tax rates, and updates to state retirement plan calculations.

Also, in preparation for the establishment of Roth 403(b) accounts, authorized by the 2001 tax law (EGTRRA) starting in January, 2006, the 2005 edition contains a new Roth 403(b) utility that helps determine the right mix of pre-tax and after-tax contributions. Depending on the user's preference, the Roth 403(b) utility employs either a simpler or a more sophisticated Monte Carlo analysis that looks at tax rates, contribution levels, and expected withdrawal patterns to make a customized recommendation for each individual.

The User's Guide for the 2005 system is also now available on the Downloads page of our web site. For a free downloadable demo of the 2005 edition of the 403(b) Contribution Planner, please click here.