Left Navigation

 

Contribution Estimator

Fact:

Your employer typically contributes an amount equal to 5% of your annual compensation. Your employer may match your contribution – typically up to 4% of your compensation – but for most people this isn't enough.*

Compensation typically includes all items of compensation reported in the box "Medicare Wages and Tips" of the Form W-2, plus any pretax contributions to a cafeteria plan and an amount equal to the value of maintenance furnished to the employee (including utility and room and board expenses and the rental value of housing). All overtime, bonuses, commissions and severance pay are generally included in compensation. Employees should ask their employers how contributions are calculated on their behalf.

John

Current Age: 55

Planned Retirement Age: 65

Annual Compensation: $50K

Current Account Balance: $30,000

Your Contribution: 0%

What will John have at retirement?

Your Contribution: 0%

At Retirement: $98,474**

Why does John get so much less?

Because he didn't contribute, and he missed out on his employer's match, up to 4% of his annual compensation.

Jane

Current Age: 55

Planned Retirement Age: 65

Annual Compensation: $50K

Current Account Balance: $30,000

Your Contribution: 4%

What will Jane have at retirement?

Your Contribution: 4%

Balance at Retirement: $130,041**

Why does Jane get so much more?

Because she invested 4% of her compensation, and her employer matched her investment.

* Ask your employer what percentage their base contribution is, and their match, if any.
** Based on historical rate of return of 7%.

How much do you contribute?

Fact:

Your employer typically contributes an amount equal to at least 5% of your annual compensation. Your employer may also typically match 4% of your compensation toward your retirement, but for most people this isn't enough.*

How much do you contribute?

Drag the ball along the slider below to the amount you currently contribute.

* Contact your employer for contribution levels.

What will your account value be at retirement?

This tool will help you to:

  • Estimate your account value at retirement.
  • Understand how your retirement account can grow.
  • Decide how much to contribute to your retirement savings account.

What you need:

  • Your compensation information.
  • Your current contribution information from Fidelity.

Not sure what something means? Roll your mouse over the icon for details.

Note: The Church Pension Group does not have access to, store, use, or share any information you may enter into this estimator.
You may print your results when you finish, and your information is deleted when you leave the estimator.

Current Information
  • The starting balance or current amount you and your employer have invested or saved in your Lay Defined Contribution Plan.
  • Compensation typically includes all items of compensation reported in the box "Medicare Wages and Tips" of the Form W-2, plus any pretax contributions to a cafeteria plan and an amount equal to the value of maintenance furnished to the employee (including utility and room and board expenses and the rental value of housing). All overtime, bonuses, commissions and severance pay are generally included in compensation. Employees should ask their employers how contributions are calculated on their behalf.
  • The annual percentage you expect your compensation to increase. The calculator assumes that your compensation will continue to increase at this rate until you retire.
Current Information
  • Your employer may make a base contribution of 5% of your compensation. Ask your employer what percentage they contribute.
  • The percentage of your compensation you contribute.

    2013 Pre-Tax Contribution Limits

    • Employees under age 50 may contribute up to $17,500 (before taxes).
    • Employees age 50 years and older by the end of the year may contribute an additional $5,500, up to $23,000 (before taxes).
    • In 2013, the combined total that you and your employer contribute may not exceed 100% of your annual compensation or $51,000, whichever is less.

  • Your employer may match your personal contribution up to 4%. Ask your employer what percentage they match.
    • Your employer may match your contribution - typically up to 4% of your compensation.
    • Some employers may match more or less than 4%.
    • The employer match is essentially free money for your retirement account, so you should contribute at least enough to receive the full match.
    • Ask your employer what percentage they contribute.
  • The rate of return is the gain or loss on an investment over a specified period of time. Rate of Return is usually expressed as a percentage.

    When you save for retirement, you have a choice of how your savings are invested. The amount you invest in stocks, bonds and cash impacts your expected rate of return.

    Investment returns are linked to asset mixes. Historically, over long periods of time, stocks have earned higher rates of return than bonds, which have earned higher rates of return than cash. Aggressive asset mixes tend to contain a higher portion of stocks, and therefore have a higher expected rate of return.

    Note: The scenarios produced by this estimator are hypothetical. Investing in the financial markets carries with it the risk of assets decreasing in value. One way to minimize the risk of dramatic changes in value is to diversify your investments across a broad spectrum of investment strategies. Keep in mind that even a well-diversified portfolio cannot reduce the risk of loss completely. Past investment performance is no guarantee of future results.

Your Contribution Estimated Amount at Retirement* Amount Withheld

Your Current Contribution

* For purposes of this calculation, we assume you take no distributions from your account before retirement.

Pensions Disclaimer