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Contribution Calculator

 
Introduction
  • Update the ‘Start here’ section to reflect your details.
  • The calculator will show you approximately how much you should contribute each paycheck to reach your desired retirement goal. Use the goal slider to see the impact of the different retirement goals.
  • The section below is where you specify how much you want to contribute. The savings amount will be populated as a starting point. You can update this field to see how other contribution amounts translate into potential tax savings and/or the impacts to your paycheck. Your contributions cannot exceed IRS or plan limits
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*
Consider consolidating your retirement accounts.†
If you have other retirement accounts such as a 401(k) or an IRA, you may be able to move these into your retirement account with John Hancock.^ To learn more about this option and if it’s right for you, call us at 1-877-525-7655 to speak with a consolidation specialist.

†Available for plans utilizing John Hancock’s consolidation services; rollovers are subject to the provisions of your company’s plan.
^Speak with a Financial Representative to determine if combining your retirement accounts is suitable for you, as other options are available.
 
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 cannot exceed your plan and/or IRS limits. Check with your plan administrator for more details.
 
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.

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John Hancock Retirement Plan Services, LLC offers administrative or recordkeeping services to sponsors and administrators of retirement plans. John Hancock Trust Company LLC provides trust and custodial services to such plans.

Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, New York. Product features and availability may differ by state.

John Hancock Retirement Plan Services, LLC, John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York each make available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan. Unless otherwise specifically stated in writing, each such companies does not, and is not undertaking to, provide impartial investment advice or give advice in a fiduciary capacity.

Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York do business under certain instances using the John Hancock Retirement Plan Services name.

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