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This calculator will assist you in estimating the value of your future retirement savings. It incorporates information based upon your plan balance and compensation, and makes certain assumptions regarding your 401(k) contributions, Associated Banc-Corp's contributions, investment returns and future compensation growth. In going through this process it would be helpful to have your latest 401(k) Retirement Plan information.
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Definitions
- Current age
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Your current age.
- Social Security retirement age
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Age you wish to retire. This calculator assumes that the year you retire you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution happened when you were actually 64.
- Annual salary
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This is your annual salary from your employer before taxes and other benefit deductions. Since your contribution and company match are based on the salary paid to you by your employer, do not include any income you may receive from sources other than your employer.
- Anticipated salary increase
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Your anticipated annual salary increase per year.
- Employee 401(k) balance
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Insert current balance from Associatedbank.com web site or attain information by calling 1-800-456-7271.
- Employer matching balance
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Insert current balance from Associatedbank.com web site or attain information by calling 1-800-456-7271.
- Profit sharing balance
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The starting balance or current amount you have invested or saved in your 401(k).
- Retirement account balance
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This is the balance for your retirement account. Insert the balance from your annual statement.
- Employee 401(k) contributions
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This is the percentage of your annual salary you contribute to your 401(k) plan each year.
| Year | Employee Contribution Limit | Additional "Catch-up" Contributions for Workers 50+ |
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| 2002 | $11,000 | $1,000 |
| 2003 | $12,000 | $2,000 |
| 2004 | $13,000 | $3,000 |
| 2005 | $14,000 | $4,000 |
| 2006 | $15,000 | $5,000 |
| 2007 | $15,500 | $5,000 |
| 2008 | $15,500 | $5,000 |
| 2009 | $16,500 | $5,500 |
| 2010 | $16,500 | $5,500 |
- 401(k) annual contribution limits
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Your total contribution for one year based on your annual salary times the percent you contribute. Your employer provides a 100% match on the first 3% and a 50% match on the next 3%, up to a maximum of 6% of your annual salary.
It is important to note that some employees are subject to another form of contribution limitations. Employees classified as "Highly Compensated" may be subject to contribution limits based on their employer's overall 401(k) participation. If you expect your salary to be $110,000 or more in 2010 or was $110,000 or more in 2009, you may need to contact your employer to see if these additional contribution limits apply to you.
- 401(k) employer match
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An employer match is in addition to your annual contributions. It is based on a percentage of your annual contributions. This range can be anywhere from 0% to 3%. An employer match is usually only for a limited portion of your salary. Please read the definition for "Employer maximum" for a detailed description.
- Employer maximum
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This is the maximum percent of your salary matched by your employer regardless of the amount you decide to contribute. For example, your employer has a 100% match on the first 3% and a 50% match on the next 3%, up to a maximum of 6% of your annual salary. If you have an annual salary of $30,000 and contribute 6%, your annual contribution is $1,800. With a 100% match on the first 3% and a 50% match on the next 3%, your employer will add another $1,350 to your 401(k) account. If you increase your contribution to 10% your annual contribution is $3,000 per year. Your employer match, however, is limited to the first 6% of your salary and remains at $1,350.
- Rates of return
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The annual rate of return for your retirement accounts. Historically the major stock indexes have averaged 8% to 10% per year. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return. This calculator assumes that your return is compounded annually and your deposits are made monthly. Your retirement account is based on the corporate investment rate of return. All other accounts use your self directed rate of return.
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