Use our FREE interactive calculators to help with your retirement planning!

PENSION PLAN CALCULATOR

The Pension Calculator allows you to calculate the MINIMUM, RECOMMENDED, and MAXIMUM possible contributions to a conventional defined benefit pension plan for an individual, given certain key pieces of information:

  • Current Age

  • Retirement Age

  • Annual Compensation (or earned income for a sole proprietor)

  • Years of past service with the employer

  • Year in which the plan is effective

This contribution calculation assumes a NEW PLAN in the first year of operation.  In subsequent years, the contribution range may change slightly due to a number of factors, including investment performance, change in pay, and changes in legal benefit limits.

RETIREMENT SAVINGS CALCULATOR

The Retirement Savings Calculator figures out how much money you will need to retire comfortably and then tells you what percentage of your pay you will need to save to achieve that goal.   You will need to enter some important facts and assumptions, such as:

  • Your current age

  • Your current annual compensation (or earned income for a sole proprietor)

  • The current balance of your IRA's, 401k's, and any other retirement savings accounts

  • Your desired retirement age

  • Your desired annual retirement income

  • Assumed annual rate of salary increase

  • Assumed annual rate of investment income