Starting balance | STARTING_BALANCE |

Maximum contribution for 2016* | CONTRIBUTE_MAXIMUM |

Actual contribution for 2016* | ANNUAL_CONTRIBUTIONMSG_CONTRIBUTE_LBL |

Total contributions | TOTAL_CONTRIBUTIONS |

IRA Total at Retirement | ROTH_TOTAL |

Taxable savings account | TOTAL_TAXABLE |

Difference | DIFFERENCE_AT_RETIRE |

Annual contribution | ANNUAL_CONTRIBUTION |

Starting balance | STARTING_BALANCE |

Current age | CURRENT_AGE |

Age of retirement | AGE_OF_RETIREMENT |

Years until retirement | YEARS_UNTIL_RETIREMENT |

Expected rate of return | RATE_OF_RETURN |

Marginal tax rate | MARGINAL_TAX_RATE |

- Starting balance
- The current balance of your Roth IRA.
- Annual contribution
- The amount you will contribute to your Roth IRA each year. This calculator assumes that you make your contribution at the beginning of each year. The maximum annual IRA contribution of $5,500 is unchanged for 2016. It is important to note that this is the maximum total contributed to all of your IRA accounts. The contribution limit increases with inflation in $500 increments. An annual change to the contribution limit only occurs if the cumulative effect of inflation since the last adjustment is $500 or more.
If you are 50 or older you can make an additional 'catch-up' contribution of $1,000. The 'catch-up' contribution amount of $1,000 remains unchanged for 2016. In order to qualify for the 'catch-up' contribution, you must turn 50 by the end of the year in which you are making the contribution.

It is important to note that Roth IRA contributions are limited for higher incomes. If your income falls in a 'phase-out' range you are allowed only a prorated Roth IRA contribution. If your income exceeds the phase-out range, you do not qualify for any Roth IRA contribution. For the purposes of this calculator, we assume that your income does not limit your ability to contribute to a Roth IRA. The table below summarizes the income 'phase-out' ranges for Roth IRAs.

Tax filing status 2016 Income Phase-Out Range Married filing jointly or head of household $184,000 to $194,000 Single $117,000 to $132,000 Married filing separately* $0 to $10,000 Starting in 2010 high income individuals will have the option to make non-deductible traditional IRA contributions and then immediately convert them to a Roth IRA. This can effectively eliminate the income phase-out for Roth IRA contributions.

- Current age
- Your current age.
- Age of retirement
- Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your IRA. So if you retire at age 65, your last contribution is assumed to have happened when you were actually 64.
- Expected rate of return
- The annual rate of return for your IRA. This calculator assumes that your return is compounded annually and your contributions are made at the beginning of each year. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending Dec. 1st, 2015, had an annual compounded rate of return of 7.76%, including reinvestment of dividends. From January 1970 through to Dec. 2015, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.5% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances.
It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that Separate Account investment funds and/or investment companies may charge.

- Marginal tax rate
- The marginal tax rate you expect to pay on your taxable investments. Use the table below to assist you in estimating your federal tax rate.
Filing Status and Income Tax Rates 2016* Tax Rate Married Filing Jointly or Qualified Widow(er) Single Head of Household Married Filing Separately 10% $0 - $18,550 $0 - $9,275 $0 - $13,250 $0 - $9,275 15% $18,550 - $75,300 $9,275 - $37,650 $13,250 - $50,400 $9,275 - $37,650 25% $75,300 - $151,900 $37,650 - $91,150 $50,400 - $130,150 $37,650 - $75,950 28% $151,900 - $231,450 $91,150 - $190,150 $130,150 - $210,800 $75,950 - $115,725 33% $231,450 -$413,350 $190,150 - $413,350 $210,800 - $413,350 $115,725 - $206,675 35% $413,350 -$466,950 $413,350 - $415,050 $413,350 - $441,000 $206,675 - $233,475 39.6% Over $466,950 Over $415,050 Over $441,000 Over $233,475 *Caution: Do not use these tax rate schedules to figure 2015 taxes. Use only to figure 2016 estimates. Source: 2015 Rev. Proc. 2015-61 - Total contributions
- The total amount contributed to this IRA.
- Maximize contributions
- Check this box to contribute the maximum allowed to your account each year. This includes the additional catch-up contribution available when you are age 50 or over.
- Total taxable savings
- The total amount you would have accumulated by retirement in a taxable savings account.
- Roth total at retirement
- Total value in your Roth IRA at your retirement. To take any distributions that include earnings that are tax free, the Roth IRA must be opened for 5 tax years. Eligible tax free distributions include those taken for death or disability, after age 59-1/2, or for a first time home purchase.

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