The June 30th update for 2022 is limited to minor fixes and enhancements. This update is optional unless you have received instructions from us or have one of the calculators specifically. All updates are cumulative, by skipping this limited update any changes to your package will be included in the next update. To view the previous update package please see Calculator Update 3/31/2022.
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. If you are experiencing format issues, or it has been more than a year since you have installed an update package, it is recommended you use the full installation package.
Distribution interest rate
In January of 2022, Notice 2022-6 specified a change to what is considered an acceptable interest rate when calculating distributions. Previously the rule set the maximum rate at 120% of the Federal Mid-Term rate for either of the two months immediately preceding the month in which the distribution begins. The new rule now sets a maximum of 5% or 120% of the Federal Mid-Term rate – whichever is higher. This essentially makes 5% the new maximum until Federal Mid-Term rates increase significantly.