Ira Module - Response

The fields of the Data object supported by an Ira module request are defined in alphabetical order below:

🟥 Data

The fields of the Data object supported by a Ira module request are defined in alphabetical order below:

Fields: 🔸BeginBalance, 🔹Calculate, 🔹Compounding, 🔸CurrentAge, 🔹Deposit, 🔹DepositFreq, 🔸Rate, 🔸RetireAge, 🔹FV

Objects: 🟦 Format

🔸 Data.BeginBalance

The beginning balance is the amount which is currently present in the IRA account. Interest accrues on this initial amount (plus the periodic deposit amounts), much like interest accrues on the principal balance of a loan.

🔹 Data.Calculate

This field informs the SCE which of the two IRA calculations is to be performed.

In the sample above, the calculation type being requested is FV, which directs the SCE to compute the future value of the IRA. Thus, the periodic deposit value is specified in the appropriate field, and the future value field is omitted.

🔹 Data.Compounding

The Compounding field defines the periodicity at which interest is computed. The specified compounding period affects the allowable values for the DepositFreq field - please see the description below.

🔸 Data.CurrentAge

The current age of the IRA account owner.

🔹 Data.Deposit

The Deposit field specifies the periodic deposit amount to be made to the IRA account. The periodicity of the deposit is dictated by the DepositFrequency field, detailed below.

If you are computing the periodic deposit amount necessary to generate a specified future value (e.g. `"Calculate" : "FV"'), then omit this field from the request.

🔹 Data.DepositFreq

This field specifies the periodicity of the deposit amount. Thus, if you wanted to make monthly deposits to an IRA account, the field value should be specified as monthly. The frequency of deposits limits the allowable compounding frequencies (see table below).

🔸 Data.Rate

This field dictates the rate at which interest accrues throughout the term of the IRA.

🔸 Data.RetireAge

The desired retirement age of the IRA account owner. This value must be greater than that found in the CurrentAge field. By subtracting the current age from the retirement age, the SCE determines the number of years the IRA account will be allowed to grow.

🔹 Data.FV

The future value is the balance of the IRA account at the borrower's specified retirement age. The future value is equal to the present value plus all periodic deposits plus all interest accrued during the IRA's term. If you are computing the future value (e.g. "Calculate" : "FV"), then you may omit this field.

🟦 Data.Format

The Format object is one of the first objects parsed from a request, as various fields affect how date and numeric fields are parsed and validated.

Fields: 🔹CurrencyDecimals, 🔹DateFormat, 🔹DateSeparator, 🔹DecimalSeparator, 🔹StrictDP, 🔹ThousandSeparator

Objects: None

🔹 Data.Format.CurrencyDecimals

When displaying and parsing Currency fields, this field determines the maximum number of decimal places allowed after the DecimalSeparator.

🔹 Data.Format.DateFormat

When displaying and parsing Date fields, this field determines the expected format for all Date fields. The following DateFormat options are allowed:

• YMD - All dates should be formated as YYYY-MM-DD.
• MDY - All dates should be formated as MM-DD-YYYY.
• DMY - All dates should be formated as DD-MM-YYYY.

Note that the character which separates the individual month, day, and year portions of the date is configurable via the DateSeparator field.

🔹 Data.Format.DateSeparator

When displaying and parsing Date fields, this field determines the character used to separate the individual month, day, and year portions of a date field.

🔹 Data.Format.DecimalSeparator

When displaying and parsing Currency, Percentage, or Floating numeric fields, this field determines the character used to separate the fractional part from the whole.

🔹 Data.Format.StrictDP

If the value of this field is true, then the SCE will strictly verify the number of decimal places allowed for currency input values. Thus, if the calling application sends in a request with a currency amount of 1000.005, the SCE will return an error code.

If the value of this field is set to false, then currency values sent in with an invalid number of decimal places will be rounded to the correct number of decimal places by the SCE (using five/four rounding), and a warning message with this information will be returned with the response.

🔹 Data.Format.ThousandSeparator

When displaying numeric fields, this field determines the character used to separate the thousands places from the hundreds. When parsing a numeric request field, if a thousand separator is specified in the request, then the SCE will now remove all occurrences of the specified thousand separator from the numeric field string before attempting to convert it to a number.