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Maintenance Update 12 31 2020


Overview: Financial Calculator Update 12/31/2020


The quarterly update for 12/31/2020 is a large update, affecting every calculator. The majority of the changes affect the functionality of the calculations, updating them to 2021 rules and regulations. The most significant calculation changes in this update were to the retirement, savings, and tax calculators. Additional changes have also been made for enhancing the user interface along with continued ADA refinement. All standard calculators are meet accessibility specification WCAG 2.1 Level AA and Section 508.

With this update, Internet Explorer 9 (IE9) and Internet Explorer 10 (IE 10) are only minimally supported. All calculators will continue to function in these browsers, but there may be differences in their visual appearance and user interface. Microsoft ended all support for IE9 and IE10 as of 1/12/2016 - our move away from these outdated browsers follows a long trend toward their more modern counterparts. All support for IE9 and IE10 is scheduled to end on 12/31/2021.

All maintenance releases are cumulative, so if you apply this update, you will have all previous calculator updates as well. For your reference you can view the previous update notes here: 9/30/2020 Update.

For more detailed information please see our frequently asked questions: FAQ: V3 Frequently Asked Questions


Update Instructions


For more detailed information please see our deployment documentation: V3 Deployment Information

  1. Download the latest update package for your calculators from your download site, found on your update e-mail notice.

  2. Execute the KJEUpdate.exe file from your download. This is a self-extracting zip file. (Or unzip the KJEUpdate.zip file if you are using a non-windows platform.) If you see a warning message, you can safely continue. When prompted for a directory, you may use the default or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production or staging environment. One directory will be created with no subdirectories.

  3. Replace all files provided in update package. The update package includes all JS files and CSS files that are required to update the content of your calculators. IMPORTANT! The update package does not contain any HTML files or the KJESiteSpecific.js or KJESiteSpecific.css files. These files are not required for an upgrade, and replacing them may result in overwriting custom changes for your website installation. If you use the full installation package and have changed the file KJESiteSpecific.js or KJESiteSpecific.css files do not replace them.

When you test the new version of the calculators, make sure that the browser you are using uses the new files instead of any it may have in its cache. You may need to clear the browser's cache manually to ensure the new versions are loaded.

Please note, if you have a Servlet or other custom deployment, installation instructions for your package will found on your download page or provided separately.


Update Changes 12/31/2020


The V3 (HTML5/JavaScript) calculators do not require any edits or modifications to HTML pages, all changes are encapsulated within the JS files provided.

  1. ADA requirements for WCAG 2.1 level AA and Section 508

    All calculators follow the ADA guidelines to meet accessibility specification WCAG 2.1 Level AA and Section 508. We continue to refine our ADA support with this update. Over the past year all calculators have been tested and updated to include ADA support, this includes:

    1. Table headers have been refinded to ensure empty cells have the correct markup.
    2. Deep scans of all calculators with:

      SortSite:
      https://www.powermapper.com/products/sortsite/checks/browser-compatibility/

      WebAim:
      https://wave.webaim.org/

      We will continue to monitor and update our software to maintain compliance and ensure any future compliance issues are resolved quickly. If you have a specific calculator on your site where you have a question please feel free to contact us.

  2. Improved Graphic Interface

    Improvements to the graphical user interface continue with this update. This includes

    1. New entry field, slider and calculator box styling
    2. New graph format for improved readability
    3. Refined font sizing throughout for improved readability
    4. Refined hover colors on report tables and schedules
    5. Refined color, placement and function of help icons
    6. Refined calculator borders, padding, placement and transitions
    7. Refined control resizing when moving between portrait and landscape modes on mobile devices.
    8. Refined resizing on desktop browsers with better resizing when maximizing the screen.
    9. Removed 'Help Text' when hovering over '?', clicking or space-bar with focus will make the definition appear. When a new field (other than the field that the definition is for) receives the focus, the definition will automatically hide. Previously, the hover functionality did not allow for scrolling through longer help text.

  3. The definition for Rate of Return has been updated to include 2020.

    New definition:
    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 December 31st 2020, had an annual compounded rate of return of 13.8%, including reinvestment of dividends. From January 1, 1971 to December 31st 2020, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.8% (source: www.spglobal.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 investment funds and/or investment companies may charge.

    New definition Spanish Definition:
    Es la tasa compuesta anual de rendimiento que usted prevé lograr con sus ahorros o inversiones. La tasa de rendimiento real depende en gran parte de los tipos de inversiones que usted escoja. En los 10 años que terminaron el 31 de diciembre de 2020, el Índice Standard & Poor's 500® (S&P 500®) tuvo una tasa compuesta anual de rendimiento de 13.8%, incluyendo la reinversión de los dividendos. Del 1o de enero de 1970 al 31 de diciembre de 2020, el promedio de la tasa compuesta anual de rendimiento de S&P 500®, incluyendo la reinversión de los dividendos, fue aproximadamente 10.8% (fuente: www.spglobal.com). Desde 1970, el mayor rendimiento en un período de 12 meses fue 61% (junio de 1982 a junio de 1983). El menor rendimiento en un período de 12 meses fue -43% (marzo de 2008 a marzo de 2009). Las cuentas de ahorro en una institución financiera pueden pagar tan poco como el 0.25%, o incluso menos, pero tienen un riesgo mucho menor de pérdida del capital.

    Es importante recordar que éstos son casos hipotéticos y que las tasas futuras de rendimiento no se pueden predecir con certeza, y que las inversiones que pagan mayores tasas de rendimiento generalmente están sujetas a mayor riesgo y volatilidad. La tasa real de rendimiento en las inversiones puede variar mucho a lo largo del tiempo, especialmente en inversiones a largo plazo. Esto incluye la potencial pérdida del capital de su inversión. No es posible invertir directamente en un índice, y la tasa compuesta de rendimiento que se menciona arriba no refleja cargos de ventas y otros gastos y honorarios que pueden cobrar los fondos de inversión y/o empresas de inversión.

    This affects the following 66 calculators:

    Calculator TypeNameHTML File Changed
     Auto CalculatorsLease vs. BuyBuyvsLease.html
     Business CalculatorsEquipment Buy vs. LeaseBizBuyvsLease.html
     Business Debt Consolidation CalculatorBizConsolidate.html
     Credit Cards and Debt ManagementConsolidation Loan Investment CalculatorInvestmentDebt.html
     Insurance CalculatorsVariable Annuity CalculatorAnnuity.html
     Comprehensive Life Insurance AnalysisEnhancedLifeIns.html
     Health Savings Account (HSA) Goal CalculatorHSAGoal.html
     Health Savings Account (HSA) Savings CalculatorHSASavings.html
     Human Life ValueHumanLifeValue.html
     Life Insurance CalculatorLifeInsurance.html
     Investment CalculatorsAnnual Rate of Return CalculatorAnnualReturn.html
     Lump Sum Annual Return CalculatorAnnualReturnAmount.html
     Compare Investment FeesCompareFees.html
     Mutual Fund Expense CalculatorFundExpense.html
     Future Value CalculatorFutureValue.html
     Lump Sum Future Value CalculatorFutureValueAmount.html
     Taxable vs. Tax Deferred vs. Tax Free InvestmentInvestCompare.html
      Taxable vs. Tax Deferred InvestmentsInvestCompare2.html
     Investment Savings and DistributionsInvestmentDistribution.html
     Investment DistributionsInvestmentDistribution2.html
     Investment LoanInvestmentLoan.html
     Investment ReturnsInvestmentReturn.html
     Investment Goal CalculatorInvestmentVariables.html
     Internal Rate of Return (IRR) CalculatorIRRReturn.html
     Present Value CalculatorPresentValue.html
     Lump Sum Present Value CalculatorPresentValueAmount.html
     Personal Economic Recovery CalculatorRecoverTime.html
     Annual Stock Option GrantsStockGrants.html
     Stock Option CalculatorStockOptions.html
     Mortgage CalculatorsHome Rent vs. Buy CalculatorMortgageRentvsBuy.html
     Retirement Savings and PlanningHow Important is Social Security?NoSocial.html
     Pension Plan Retirement OptionsPensionOptions.html
     Traditional IRA CalculatorRegularIRA.html
     401(k) CalculatorRetire401k.html
     403(b) Savings CalculatorRetire403b.html
     457 Savings CalculatorRetire457.html
     72(t) Distribution ImpactRetire72Alt.html
     Beneficiary Required Minimum Distributions (RMD)RetireBeneficiary.html
     Required Minimum Distribution (RMD)RetireDistrib.html
     How long will my retirement savings last?RetirementDistribution.html
     Retirement Income CalculatorRetirementIncome.html
     Retirement Nestegg CalculatorRetirementNestegg.html
     Retirement Planner CalculatorRetirementPlan.html
     Retirement Pension Planner CalculatorRetirementPlan3.html
     Retirement Planner with Retirement Earnings CalculatorRetirementPlan4.html
     Retirement Shortfall CalculatorRetireShort.html
     Individual 401(k) Savings CalculatorRetireSolo401k.html
     401(k) Spend It or Save It CalculatorRollover401k.html
     Roth IRA CalculatorRothIRA.html
     Roth IRA Conversion CalculatorRothTransfer.html
     Roth vs. Traditional IRA CalculatorRothvsRegular.html
     Roth 401(k) vs. Traditional 401(k) CalculatorRothvsTraditional401k.html
     RMD & Stretch IRA CalculatorStretchIRA.html
     Savings CalculatorsCollege Savings CalculatorCollegeSavings.html
     Compare Savings Rates CalculatorCompareSavings.html
     Compounding and Your Return CalculatorCompoundInterest.html
     Compound Savings CalculatorCompoundSavings.html
     Savings Distribution CalculatorDistribSavings.html
     Emergency Savings CalculatorEmergency.html
     Lunch Savings CalculatorLunchSaver.html
     Cool Million CalculatorMillionaire.html
     Savings Goals CalculatorSavings.html
     Savings, Taxes, and Inflation CalculatorSavingsVariables.html
     Benefit of Spending Less CalculatorSpendLess.html
     Vice Savings CalculatorViceSaver.html
     Don't Delay Your Savings!WaitCost.html
    For Canadian Calculators the definition for Rate of Return has been updated to:

    Rate of return

    The actual rate of return is largely dependent on the type of investments you select. For example, the total return including dividends of the S&P/TSX Composite Index for the 10 year period from December 31, 2010 through December 31, 2020 was 5.9% (source spindices.com). Savings accounts at a bank or credit union may pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are 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.

  4. The definition for Inflation and Expected Inflation Rate have been updated to include CPI data from 2020.

    The CPI for 2020 was estimated by the U.S. Bureau of Labor Statistics as 1.2% (the annualized rate), this small difference from the existing long term average was not enough change the long term average of 2.9%. The new definition now reads:

    This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2020 the CPI has a long-term average of 2.9% annually. Over the last 40 years the highest CPI recorded was 13.5% in 1980. For 2020, the last full year available, the CPI was 1.2% annually as reported by the U.S. Bureau of Labor Statistics.

    For Spanish the definition now reads as:

    Es la tasa de inflación que usted prevé como promedio a largo plazo. Una medida común de inflación en Estados Unidos es el Índice de precios al consumidor (CPI por sus siglas en inglés). De 1925 a 2020 el CPI tiene un promedio a largo plazo del 2.9% anual. En los últimos 40 años el CPI más alto fue 13.5% en 1980. En el 2020, el último año completo disponible, el CPI fue 1.2% anual, según La Oficina de Estadìsticas Laborales o Bureau of Labor Statistics (BLS - por sus siglas en inglès).

    This affects the following 25 calculators (and all associated Spanish versions):

    Calculator TypeNameHTML File Changed
     Insurance CalculatorsDisability InsuranceDisability.html
     Health Savings Account (HSA) Goal CalculatorHSAGoal.html
     Health Savings Account (HSA) Savings CalculatorHSASavings.html
     Human Life ValueHumanLifeValue.html
     Life Insurance CalculatorLifeInsurance.html
     Long Term Care CalculatorLongtermCare.html
     Investment CalculatorsInvestment Savings and DistributionsInvestmentDistribution.html
     Investment DistributionsInvestmentDistribution2.html
     Investment ReturnsInvestmentReturn.html
     Investment Goal CalculatorInvestmentVariables.html
     Personal Economic Recovery CalculatorRecoverTime.html
     Inflationary MillionairesInflationMillionaire.html
     Inflation and Consumer Prices CalculatorInflationPrice.html
     Inflation - Historic Impact on InvestmentsInflationHistory.html
     Mortgage CalculatorsHome Rent vs. Buy CalculatorMortgageRentvsBuy.html
     Retirement Savings and PlanningHow Important is Social Security?NoSocial.html
     How long will my retirement savings last?RetirementDistribution.html
     Retirement Income CalculatorRetirementIncome.html
     Retirement Nestegg CalculatorRetirementNestegg.html
     Retirement Planner CalculatorRetirementPlan.html
     Retirement Pension Planner CalculatorRetirementPlan3.html
     Retirement Planner with Retirement Earnings CalculatorRetirementPlan4.html
     Retirement Shortfall CalculatorRetireShort.html
     Social Security Benefit CalculatorSocialSecurity.html
     Company Stock Distribution Analysis CalculatorStockRollover401k.html
     Savings CalculatorsCool Million CalculatorMillionaire.html
     Savings Goal CalculatorSavings.html
     Savings, Taxes, and Inflation CalculatorSavingsVariables.html

  5. Social Security Calculations

    Calculations and definitions updated for 2021. The calculations use the 2021 FICA income limit of $142,800 with an annual maximum Social Security benefit of $37,776 ($3,148 per month) for a single person and 1.5 times this amount for a married couple. These are the benefit amounts the age of full retirement, delaying retirement beyond full retirement age can increase the benefit. Please see https://www.ssa.gov/news/press/factsheets/colafacts2021.pdf for more information.

    These changes affect the following calculators (and associated Spanish versions):

    NameHTML File Changed
    Social Security Benefit CalculatorSocialSecurity.html
    How important is Social Security?NoSocial.html
    Retirement Planner CalculatorRetirementPlan.html
    Retirement Pension Planner CalculatorRetirementPlan3.html
    Retirement Nestegg CalculatorRetirementNestegg.html
    Retirement Income CalculatorRetirementNumber.html
    Retirement Planner with Retirement Earnings CalculatorRetirementPlan4.html

    The definitions of Social Security in each of these calculators has been updated to the following:

    Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire. Social Security benefits automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes that only one of the spouses work. Benefits could be different if your spouse worked and earned a benefit higher than one half of your benefit. If you are a married couple, and both spouses work, you may need to run the calculation twice – once for each spouse and their respective income. This calculator provides only an estimate of your benefits.

    The calculations use the 2021 FICA income limit of $142,800 with an annual maximum Social Security benefit of $37,776 ($3,148 per month) for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA income for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). This calculator rounds your age of full Social Security benefits to the next highest full year. If your birthdate is between 1955 and 1959 your actual full retirement age for Social Security is 66 plus two months for each year after 1955. Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security.

    For Spanish versions:

    El Seguro Social está basado en una escala móvil en base a sus ingresos, a cuánto tiempo trabaja y a qué edad se jubila. Los beneficios del Seguro Social aumentan automáticamente todos los años en base a los aumentos del Índice de Precios al Consumidor. El incluir a un cónyuge aumenta sus beneficios del Seguro Social en 1.5 veces el cálculo de su beneficio individual. Note que esta calculadora asume que sólo uno de los cónyuges trabaja. Los beneficios podrían ser diferentes si su cónyuge ha trabajado y ganado un beneficio que es más de la mitad de su beneficio. En el caso de un matrimonio en el que ambos cónyuges trabajan, podría tener que hacer el cálculo dos veces - una por cada cónyuge con su respectivo ingreso. Esta calculadora sólo provee un cálculo aproximado de sus beneficios.

    En las calculaciones se utiliza el límite de ingreso 2021 FICA (Ley de la Contribución Federal al Seguro Social) de $142,800 con un beneficio anual máximo del Seguro Social de $37,776 ($3,148 por mes) para una persona soltera, y esa cantidad multiplicada por 1.5 para un matrimonio. Para recibir el beneficio máximo, usted tendría que haber ganado el salario máximo FICA por casi toda su carrera. También tendría que comenzar a recibir beneficios a su plena edad de jubilación de 66 ó 67 años (dependiendo de su fecha de nacimiento). Esta calculadora redondea su plena edad de jubilación para recibir beneficios del Seguro Social al siguiente año completo. Si su fecha de nacimiento es entre 1955 y 1959, el Seguro Social considera que su plena edad de jubilación es 66 más dos meses por cada año después de 1954. Su beneficio real podría ser menor o mayor, dependiendo de su historial de trabajo y las reglas completas de compensación que usa el Seguro Social.

  6. 2021 Federal Tax Rates

    The tax table has been updated on the following calculators and all associated Spanish versions (replacing the 2020 Federal Tax Table).

    Use the ‘Filing Status and Federal Income Tax Rates’ table to assist you in estimating your federal tax rate.
    Filing Status and Federal Income Tax Rates 2021*
    Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
    *Caution: Do not use these tax rate schedules to figure 2021 taxes. Use only to figure 2021 estimates. Source: Rev. Proc. 2020-45
    10%$0 - $19,900$0 - $9,950$0 - $14,200$0 - $9,950
    12%$19,900 - $81,050$9,950 - $40,525$14,200 - $54,200$9,950 - $40,525
    22%$81,050 - $172,750$40,525 - $86,375$54,200 - $86,350$40,525 - $86,375
    24%$172,750 - $329,850$86,375 - $164,925$86,350 - $164,900$86,375 - $164,925
    32%$329,850 - $418,850$164,925 - $209,425$164,900 - $209,400$164,925 - $209,425
    35%$418,850 - $628,300$209,425 - $523,600$209,400 - $523,600$209,425 - $314,150
    37%Over  $628,300Over  $523,600Over  $523,600Over  $314,150

    For Spanish versions: Puede utilizar la siguiente tabla para ayudarle a determinar su actual tasa de impuesto.

    Estado Personal y Tasa Contributivas 2021*
    Tasa ContributivaCasado rindiendo juntos o ViudoSolteroJefe de familiaCasados declarando separadamente
    *Cuidado: No utilice estas tasas contributivas para computar los impuestos del 2020. Solo utilizar para calcular estimados para el 2021.
    10%$0 - $19,900$0 - $9,950$0 - $14,200$0 - $9,950
    12%$19,900 - $81,050$9,950 - $40,525$14,200 - $54,200$9,950 - $40,525
    22%$81,050 - $172,750$40,525 - $86,375$54,200 - $86,350$40,525 - $86,375
    24%$172,750 - $329,850$86,375 - $164,925$86,350 - $164,900$86,375 - $164,925
    32%$329,850 - $418,850$164,925 - $209,425$164,900 - $209,400$164,925 - $209,425
    35%$418,850 - $628,300$209,425 - $523,600$209,400 - $523,600$209,425 - $314,150
    37%Más de $628,300Más de $523,600Más de $523,600Más de $314,150

    NOTE: The actual tax calculators will be updated at the end of the tax season, in the 3/31/2021 update.

  7. Health Savings Account (HSA) Calculators

    Have been finalized for 2021. The limits and amounts were increased slightly from 2020 for all HSA calculations. All calculators were updated to indicate the new 2021 amounts. Income tax brackets and rates were updated to 2021. This includes the following:

    This table shows the limits for HSA's in 2021.

    Health Savings Accounts (HSA) Contribution and Limits
     20212020Change
    HSA Contribution LimitSingle: $3,600
    Family: $7,200
    Family: $7,100Single: $50+
    Family: $100+
    HSA catch-up contributions*$1,000$1,000No change, not indexed to inflation
    HDHP minimum deductibleSingle: $1,400
    Family: $2,800
    Single: $1,400
    Family: $2,800
    No change
    HDHP maximum out-of-pocket**Single: $7,000
    Family: $14,000
    Single: $6,900
    Family: $13,800
    Single: 100+
    Family: $200+
    *Catch-up contributions can be made anytime during the year in which the participant turns 55.
    **This includes deductible amount, co-payments and other non-premium payments.

    Please note, you are no longer eligible to make HSA contributions starting in the first month that you are eligible for and enrolled in Medicare Part A or B.

    For complete details on HSAs you may wish to visit the U.S. Treasury at U.S. Treasury Health Savings Accounts.

    This affects the following calculators:

  8. Self-Employment Tax Calculator (TaxSelfEmployment.html):

    Has been updated 2021 tax rules. This calculator is for 2021 tax calculations for taxes filed in April 2022. Minor changes have occurred to the definitions and the calculations, but there have been no additional input and output fields. The calculations use the 2021 FICA income limit of $142,800. (Note: the 2020 version of this calculator for 2020 taxes which are filed in April 2021 is available at this link 2020 Self-Employment Tax Calculator.)

  9. 1040 Tax Estimator (Tax1040.html):

    Has been updated for changes in 2020. This is the final version of the 1040 tax form for 2020. Changes were made to match the SECURE and CARES acts. Note: the 2021 version of this calculator will be released 3/31/2021 which is for 2021 taxes which are filed in April 2022.

    We now include the CARES act $300 charitable deduction for those that do not itemize their taxes.

    Definition for charitable contributions has been updated to:

    Enter your total gifts of cash and non-cash to qualified charitable organizations. Enter cash donations only (check, credit card, actual cash) if you will be taking the standard deduction and your total cash portion of your donations was under $300.

    The calculator will automatically include a charitable contribution deduction (of up to $300) when the standard deduction is taken. This is a new deduction for 2020, made available as part of the CARES act.

  10. U.S. Easy Tax Estimator Formally the "1040EZ Tax Form Calculator" (TaxEZ1040.html):

    This calcualtor has been finalized for the 2020. Minor changes have occurred to the definitions and the calculations. (Note: the 2020 version of this calculator will be released 3/31/2021 which is for 2021 taxes which are filed in April 2022.)

    We now include the CARES act $300 charitable deduction for those that do not itemize their taxes.

    Calculator was renamed to no longer reference the discontinued 1040EZ form.

  11. Marginal and Effective Tax Rates (TaxMargin.html):

    This calcualtor has been finalized for the 2020. Minor changes have occurred to the definitions and the calculations. (Note: the 2020 version of this calculator will be released 3/31/2021 which is for 2021 taxes which are filed in April 2022.)

    We now include the CARES act $300 charitable deduction for those that do not itemize their taxes.

  12. Charitable Giving Tax Savings Calculator (CharitableTaxSavings.html):

    Has been updated for changes in 2020. Minor changes have occurred to the definitions and the calculations. Note: the 2021 version of this calculator will be released 3/31/2021 which is for 2021 taxes which are filed in April 2022.

    We now include the CARES act $300 charitable deduction for those that do not itemize their taxes.

  13. Long Term Care Calculator, Long-Term Care Required Savings (LongtermCare.html, LongTermCareSavings.html):

    The estimated costs have been updated to reflect the cost of 2020 nursing home and home health care costs.

    Definition for long term care costs has been updated to:

    This is your current estimated cost of long-term care. This is your current estimated cost of long-term care. According to the Genworth Financial 2020 Cost of Care Survey, the estimated median annual cost for a nursing home stay was $93,075 per year for a semi-private room. This is about $255 per day. The cost for a private room was $105,850 or $290 per day. Assisted living at home can cost more than $54,912 per year or $150 per day for a home healthcare aid. All of these long-term care costs can be considerably higher in larger metropolitan areas.

    The default daily value was increased to $290. The default annual value was increased to $93,075.

  14. 72(t) Calculator (Retire72T.html), 72(t) Distributions Impact (Retire72TAlt.html):

    The Federal Mid-Term rate has been updated for January 2021. This change affects the calculators default values and the definition of Reasonable Interest Rate For January 2021. For January 2021, 120% of the Federal Mid-Term rate is .62%.

  15. Individual 401(k) Contribution Comparison (Individual401kContribution.html):

    This calculator has been updated for 2021. Contribution limits have increased to $58,000 per year. The catch-up amount remains the same at $6,500. Definitions and information have been updated to reflect the calculator is current for 2021.

  16. Individual 401(k) Savings Calculator (RetireSolo401k.html):

    This calculator has been updated for 2021, 401(k) contributions remained the same at $19,500. The total defined benefit contribution limit has increased to $58,000. The catch-up amount remains the same at $6,500. Definitions and information have been updated to reflect the calculator is current for 2021.

  17. Retirement Contribution Effects on Your Paycheck Calculator (RetirePayrollSavings.html, Spanish: SPRetirementPayrollSavings.html, RetirementPayrollSavings2.html):

    The contribution limits for retirement plans on this calculator have been updated to reflect $19,500 for 2021 (no change from 2020). The Payroll withholding information has also been updated to 2020 rules and rates.

  18. Payroll and withholding calculators

    The Payroll withholding information has been updated to 2021 rules and rates.

    This affects the following calculators:

    1. 401(k)/403(b) limits are $19,500 under 50, $26,000 for 50 and over
    2. Social Security tax (2021 earned income maximum of $142,800 with employee rate 6.2%).
    3. FICA maximum $8853.60 for 2021
    4. Allowances amount is $4300 in 2021 (used only on pre-2020 W-4 calculators)
    5. Additional Medicare Tax withholdings of 0.9% for earned income above $200,000. No change for 2021
    6. Flexible Spending Account for Medical maximum is $2750 (no change for 2021)

    Definition updates as follows:

    Year-to-date earnings

    Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. We use this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is your gross earnings minus employer paid health insurance and any Flexible Spending Account (FSA) contributions. In 2021, year-to-date earnings is not required or used for incomes under $142,800 per year, or if your current year-to-date earnings plus your current payroll does not exceed $142,800.

    Social Security tax

    For 2021, Social Security tax is calculated as your gross earnings times 6.2%. For 2021, incomes over $142,800 that have already had the maximum Social Security tax of $8,853.60 withheld will not have additional withholding. Please note that if you have other wages or employers this calculator does not make any assumptions as to the total Social Security tax withheld for the current year other than the actual inputs for this calculator. This tax is also referred to as the Federal Insurance Contributions Act Old Age Survivors and Disability Insurance (FICA OASDI).

    Medicare tax

    Medicare tax is calculated as your gross earnings times 1.45%. Unlike the Social Security tax, there is no annual limit to the Medicare tax. Starting in 2013, an additional Medicare tax of 0.9% is withheld on all gross earnings paid in excess of $200,000 in a calendar year. If you enter an amount for the year-to-date gross earnings, this additional Medicare tax will be calculated based on the current period's gross earnings that exceed the annual $200,000 threshold. If no year-to-date amount is entered, any additional Medicare tax withholding will be calculated only for any gross earnings in excess of $200,000 for the current payroll period. If year-to-date wages prior to the current payroll period have exceeded $200,000, the year-to-date wages must be entered to calculate an accurate additional Medicare tax.

    Federal tax withholding calculations

    2021 Federal income tax withholding calculation:

    1. Multiply taxable gross wages by the number of pay periods per year to compute your annual wage.
    2. Subtract $12,900 for Married, otherwise subtract $8,600 for Single or Head of Household from your computed annual wage.
    3. Calculate your annual tax by the IRS provided tables. If you have checked "two jobs or spouse works" alternative tax tables provide by the IRA are used to accommodate the second income.
    4. Subtract the dependent tax credit total from the computed annual tax.
    5. Divide the amount of tax by the number of pay periods per year to arrive at the amount of Federal tax withholding to be deducted per pay period.
    Single Withholding Rates 2021*
    Annual taxable income between these amountsAnnual withholdingWithhold additional % of income over this amount
    *Source: http://www.irs.gov Publication 15 Income Tax Withholding Tables for 2021
    $0 - $3,950$0.00 
    $3,950 - $13,900$0.00plus 10% of income over $3,950
    $13,900 - $44,475$995.00plus 12% of income over $13,900
    $44,475 - $90,325$4,664.00plus 22% of income over $44,475
    $90,325 - $168,875$14,751.00plus 24% of income over $90,325
    $168,875 - $213,375$33,603.00plus 32% of income over $168,875
    $213,375 - $527,550$47,843.00plus 35% of income over $213,375
    $527,550 - (no limit)$157,804.25plus 37% of income over $527,550
    Married Withholding Rates 2021*
    Annual taxable income between these amountsAnnual withholdingWithhold additional % of income over this amount
    *Source: http://www.irs.gov Publication 15 Income Tax Withholding Tables for 2021
    $0 - $12,200$0.00 
    $12,200 - $32,100$0.00plus 10% of income over $12,200
    $32,100 - $93,250$1,990.00plus 12% of income over $32,100
    $93,250 - $184,950$9,328.00plus 22% of income over $93,250
    $184,950 - $342,050$29,502.00plus 24% of income over $184,950
    $342,050 - $431,050$67,206.00plus 32% of income over $342,050
    $431,050 - $640,500$95,686.00plus 35% of income over $431,050
    $640,500 - (no limit)$168,993.50plus 37% of income over $640,500
    Head of Household Withholding Rates 2021*
    Annual taxable income between these amountsAnnual withholdingWithhold additional % of income over this amount
    *Source: http://www.irs.gov Publication 15 Income Tax Withholding Tables for 2021
    $0 - $10,200$0.00 
    $10,200 - $24,400$0.00plus 10% of income over $10,200
    $24,400 - $64,400$1,420.00plus 12% of income over $24,400
    $64,400 - $96,550$6,220.00plus 22% of income over $64,400
    $96,550 - $175,100$13,293.00plus 24% of income over $96,550
    $175,100 - $219,600$32,145.00plus 32% of income over $175,100
    $219,600 - $533,800$46,385.00plus 35% of income over $219,600
    $533,800 - (no limit)$156,355.00plus 37% of income over $533,800

  19. College Savings (CollegeSavings.html, SPCollegeSavings.html (Spanish):

    The definition for tuition, room and board, and education cost inflation have been updated to include the average costs for the 2020-21 school year. The defaults have also been changed to reflect the new average cost for the 2020-21 school year and the average cost increases for tuition and room and board. The new information is show below:

    U.S. Undergraduate College Costs for 2020-21 School Year
    Source: College Board's 2020 Trends in College Pricing, www.collegeboard.com
    College Type Tuition & FeesAdditional Expenses*TotalChange from 2018-19
    Public 4-Year (in-state tuition)$10,560$16,260$26,8201.1%
    Public 4-Year (out-state tuition)$27,020$16,260$43,2800.9%
    Private 4-Year$37,650$17,230$54,8802.1%

  20. 403(b) Savings Calculator (Retire403b.html), 403(b) Savings Calculator without Employer Match (Retire403bNoMatch.html), Calculadora de Ahorros 403(b) (SPRetire403b.html):

    The definitions and the calculation module have been updated to reflect 2021 maximum contribution limits of $19,500 annually for those under 50 and $26,000 annually for those 50 and older (not change to the amounts themselves for 2021).

  21. 457 Savings Calculator (Retire457.html): The definitions and the calculation module have been updated to reflect 2021 maximum contribution limits of $19,500 annually for those under 50 and $26,000 annually for those 50 and older.

  22. 401(k) Calculator (Retire401k.html), 401(k) Savings With Profit Sharing (Retire401kProfitShare.html), Calculadora de Ahorros 401(k) (SPRetire403b.html) :

    The definitions and the calculation module have been updated to reflect the 2021 maximum contribution limits of $19,500 annually (no change from 2020) for those under 50 and $26,000 annually for those 50 and older (no change from 2020). The limitation used in the definition of highly compensated employee did not change and remained at $130,000 for 2021.

  23. Roth (after-tax) Account or Pre-Tax Account? (RothvsPreTaxAccount.html):

    The definitions and the calculation module have been updated to reflect 2021 maximum contribution limits of $19,500 annually for those under 50 and $26,000 annually for those 50 and older. (No change in the amounts for 2021).

  24. Retirement Planner Calculator (RetirementPlan.html), Retirement Pension Planner Calculator (RetirementPlan3.html), Retirement Planner with Retirement Earnings Calculator (RetirementPlan4.html):

    Calculations and definitions for Social Security updated. (See Social Security calculator updated for details).

  25. Estate Tax Planning Calculator (EstatePlan.html, SPEstatePlan.html):

    The exemption amount has been increased to $11,700,000. This is $120,000 more 2020's $11,580,000. There was no change in the estate tax rate. The annual gift exclusion remained at $15,000.

  26. Roth IRA Calculator (RothIRA.html), Traditional IRA Calculator (RegularIRA.html), Roth IRA vs. Traditional IRA Calculator (RothvsRegular.html):

    These calculators have been updated to 2021 phase out ranges. The maximum annual contribution of $6,000 per individual under 50 and $7,000 per individual over 50 remains unchanged from 2021. These changes include updates to the calculation module as well as the definitions and the report.

    The tables and text below has been updated:

    Roth IRA 2021 Contribution Phaseout
    Tax Filing StatusIncome Phase-Out Range
    Married filing jointly or head of household$198,000 to $208,000
    Single$125,000 - $140,000
    Married filing separately$0 - $10,000
    2021 Traditional IRA Deduction Phase-Out Ranges
    Tax Filing StatusIncome Phase-Out Range
    Married filing jointly$105,000 - $125,000
    Single, Head of Household or Married Filing Separately (and have not lived with spouse for last year)*$66,000 - $76,000
    Married filing separately*$0 - $10,000
    Married filing jointly (spouse has employer plan, IRA owner does not)**$198,000 - $208,000

    *For the purposes of this calculator, we assume you are not "Married filing separately".

    **This calculator does not account for the special situation where your spouse has an employer-sponsored retirement plan but you do not.