Contribution Calculator

 
Introduction
  • Update the ‘Start here’ section to reflect your details.
  • Based on the profile you just selected, the calculator will show approximately how much you would need at retirement to support that retirement lifestyle and how much you should save each paycheck to meet that goal (grey section). Use the goal slider to see the impact of different retirement goals.
  • The green section is where you specify how much you want to contribute. The savings amount from the grey section will be populated as a starting point. You can update this field to see how other contribution levels translate into potential tax savings and/or the impact to your paycheck. You will not be able to select a contribution that exceeds the IRS annual limit or your plan’s limit (if on file with John Hancock).
This calculator is a fast, easy way to figure out how much to contribute to your retirement plan. Use the slider below to determine approximately how much you need to contribute to reach your desired retirement goal.   
 
Date of Birth*
State of Residence*
Aprox. Current Annual Income*
Payroll Frequency*
Consolidate Your Retirement Accounts
Consolidating your retirement accounts (401(k), 403(b), 457(b)*, IRA, etc.) into your new plan can help you simplify your retirement savings efforts and better prepare you for retirement with the added benefits of:

  • Ability to view all account activity in one place
  • Get only one statement
  • Easier to manage and diversify your assets

The process is simple. All you have to do is provide us with your contact information at the end of this experience and we’ll take care of the rest.**

*Only governmental 457(b) accounts can be consolidated into qualified retirement accounts.

**Available for plans utilizing John Hancock’s Consolidation Services; rollovers are subject to the provisions of your company’s plan.
 
Current Retirement Savings    
Annual Retirement Income Goal
What you'll need at retirement:
$0,000,000
To get there, you'll need to save:
$000/paycheck (0.0%)
Your maximum annual contribution has been reached.
 
Plan Limits
Your contribution amount cannot exceed your plan limit and/or the 2016 IRS regulations ($18,000)

You might have an additional opportunity if over 50! Catch-up contributions allow savers age 50 and over to increase contributions to their qualified retirement plan up to a maximum of $6,000 for 2016 in excess of the IRS limit of $18,000. A catch-up contribution is any elective contribution made by an eligible participant and must be made by payroll deduction. Please check with your plan administration for more information.

Note: You can elect to stop contributing at any time. To do so, please contact your plan administrator.
 
I want to contribute
% $
/paycheck
on a before-tax basis to my qualified retirement account.    
A $0 annual contribution would save $0 per year in taxes and lower your paycheck by $0
Contribution Calculator
To provide the estimate of your monthly required saving amount, the calculator must use assumptions to represent some information that is unavailable, such as the rate of return your savings will earn and your retirement age.

Retirement age The calculator assumes that you plan to retire at the age of 67.

Inflation rate Although inflation at a rate of 2.4% annually is included as part of the calculations, all final figures are expressed in today’s dollars.

Contribution growth It is assumed that in addition to growing with inflation, your contributions will also increase with regular salary growth. Up to the age of 49, your contribution growth rate is calculated at 2.5% after inflation. Age 50 and over, we assume no salary growth above inflation.

Investment growth For the purposes of this calculator, we ’ve assumed a balanced investment option and a rate of return based on years to retirement. After retirement age, investment growth is projected at an annuity rate of 3.3% annually. This assumption is not based on the past performance of your investment options or any options available through John Hancock, and may not reflect the current risk strategy of your existing portfolio or any future performance. Past performance is no guarantee of future results.

Mortality rate The amount calculated for your lump sum is expected to support you at the retirement goal you selected from the time you retire until the age of 84. All amounts are stated in today’s dollars. Source: Centers for Disease Control and Prevention, 2012

Contribution amounts may include employee and employer contributions made to your company’s qualified retirement plan, and deposits to other qualified and nonqualified accounts. Contributions to qualified accounts may not exceed plan or regulatory limits. The principal value of your contributions and any investment growth are not guaranteed and their market value may fluctuate, and when redeemed may be worth more or less than the original investment. This calculator is intended as an educational tool only. The illustrations provided in this calculator are hypothetical and there are no guarantees that the results shown will be achieved or maintained over any time period. It assumes no withdrawals and does not take into account fees associated with investment. John Hancock will not be liable for any damages arising from the use or misuse of this calculator or from any errors or omission in the same.

Income tax rules on how withdrawals are handled may vary from state to state. Also, special tax rules apply in the state of Massachusetts and in Puerto Rico for participants who are partners or sole proprietors. If these rules apply to you, the tax rates used in the calculator may not necessarily apply to you. Please consult your tax advisor for your individual situation. Any calculation does not take into account the costs or fees associated with (1) transferring assets between the accounts, (2) the differences in the rate of return on investments within the account, (3) investing in the plan (i.e. annual account fees), or (4) the effect of federal and/or state taxes on withdrawals. Calculations are estimates and may not provide accurate projections. Your actual circumstances, including current income, retirement age, retirement needs or rate of return, may vary. Withdrawals of taxable amounts will be subject to ordinary income tax and, if taken prior to age 59 1/2, a 10% IRS tax penalty may apply. This calculator is not intended as investment or legal advice.
 
Important: It is assumed that you will receive a benefit from Social Security, which will help meet part of the retirement goal you selected. The benefit used is based on the income level for your selected retirement goal, and ranges between $9,768 and $30,612 annually. Source: Social Security Administration, 2015.

This calculator is intended as an educational tool only. The illustrations provided in this calculator are hypothetical and there are no guarantees that the results shown will be achieved or maintained over any time period. It assumes no withdrawals and does not take into account fees associated with investment. John Hancock will not be liable for any damages arising from the the use or misuse of this calculator or from any errors or omission in the same. Income tax rules on how withdrawals are handled may vary from state to state.

Click Here to review the details and assumptions used in the above calculations.

John Hancock Life Insurance Company (U.S.A.), John Hancock Life Insurance Company of New York and John Hancock Retirement Plan Services, LLC are also referred to as "John Hancock".

John Hancock Retirement Plan Services, LLC, Boston, MA 02210

NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY GOVERNMENT AGENCY

© 2016 All rights reserved.

MGTS 30460-GE 06/16-30460 MGR053016295013
 
$15,000