Retirement Plan Information
Instructions
The Retirement Plan Information section consists of the below tabs.
Retirement Plan Information
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Name - This field is prefilled from existing user/account data and is not editable by the user.
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Age - This field is prefilled from existing user/account data and is not editable by the user.
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Retirement Status - This field is defaulted to 'Not Retired' and may be changed by the user at any time.
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Desired Retirement Age - This field is not prefilled, must be provided by the user and may be changed by the user at any time.
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Retirement Plan End Year - This is the final year of the plan. It is not prefilled, must be provided by the user and may be changed by the user at any time.
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Annual Inflation Rate % - This field is prefilled/defaulted to 3% and applies to the length of the plan, including post-retirement. The user may change it at any time.
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Total Annual Compensation - This field is prefilled from existing user/account data (Lower Band of Net Income) and may be changed by the user at any time. It should include salary, bonus, commissions, etc.
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Annual Compensation Growth Rate % - This field is prefilled/defaulted to 3% and may be changed by the user at any time.
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This is the average annual rate the user expects their total compensation to grow.
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Effective Tax Rate % - This field is prefilled/defaulted to 20%. It is applied to the user's expected taxable distributions post-retirement and may be changed by the user at any time.
Monthly Income
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Income Label - Enter a Label for your Monthly Income.
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Amount - Enter the Monthly Income Amount.
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Taxable - Select Yes or No.
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Set Custom Date Range? - Select Yes or No. If you select yes, you will be prompted to enter a Start and End Date.
