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Disclaimer This calculator is designed to help you determine your contribution percentage in order to reach the IRS voluntary contribution limit for the calendar year The calculator uses informati

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Disclaimer This calculator is designed to help you determine your contribution percentage in order to reach the IRS voluntary contribution limit for the calendar year The calculator uses informati Powered By Docstoc
					Disclaimer: This calculator is designed to help you determine your contribution
percentage in order to reach the IRS voluntary contribution limit for the calendar
year. The calculator uses information entered by you based on your salary and
age. Should any of this information change, it is your responsibility to reevaluate
your contribution percentage. Changes to your contribution percentage can be
made once a calendar quarter. Vanderbilt University will not be held liable should
you not maximize your contribution based on information provided by this
calculator. Use this calculator at your discretion.


If you choose to change your elective percentage in order to maximize your
retirement contributions, you must complete the Retirement Plan Election Form
(Salary Reduction Agreement) and submit it to the Benefits Office for processing.


To proceed to the calculator, select the "Faculty & Staff" tab below. If
you receive a security warning, you should choose "Enable Macros".
                           Calculate Your Contribution Percentage to Maximize Your Retirement
                    Complete the gold-highlighted fields. The calculator will show your IRS-allowable supplemental percentage for 2010.
Items you will need to complete the form:
 Log in to Connect to HR (C2HR) or have most-recent paystub                                                                                (Click here for C2HR)
 Click on the "Job Profile" tab to find your annual salary (shown as "Annual Base Benefits Rate")
 Click on the "Payment History" tab, click on most recent pay period, click on "Web View"
 Scroll down to the "Before Tax Deductions" section to find your year-to-date (YTD) amounts
 Changes to your elections are effective the month after a completed Retirement Plan Election Form is received
  in the Benefits Office. This tool takes this into consideration when calculating your percentage.

                                       Enter your information in gold-highlighted fields:                                                   VMG

                                                                                                                    Employee Type           Faculty

                                                                                                                                            Staff

                                                                                              Enter date of paycheck (MM/DD/YY)
                                                                                                         Enter year of birth (YYYY):
                                                                                                          Enter your annual salary:
                                                                                                            Your monthly salary is:     $                       -
                                                                                              Enter your 403(b) Basic YTD amount:
                                                                                     Enter your 403(b) Supplemental YTD amount:
                                           Enter total elective contributions made outside of Vanderbilt's retirement plan, if any *:
                                                                              Total Basic + Supp + additional elective contributions    $                       -
                                                                                         2010 IRS Maximum Contribution Amount:          $                  22,000.00
                                                                                      IRS maximum less contributions made YTD:          $                  22,000.00
                                                                          Salary to be paid to you for the remainder of the year **:    $                       -
                If you are NOT eligible for Mandatory (3%) and Basic (2%) contributions, consider this supplemental contribution.                     #DIV/0!
                      If you are eligible for Mandatory (3%) and Basic (2%) contributions, consider this supplemental contribution.                   #DIV/0!


  If you choose to change your elective percentage in order to maximize your retirement contributions, you must complete a
  Retirement Plan Election Form (Salary Reduction Agreement) and submit the origial form to the Benefits Administration
                                                      Office for approval.
* Elective contributions outside Vanderbilt's plan can be any other elective deferrals you have made, for example VA contributions, contributions to a previous
employer during this calendar year, etc.

** The calculator takes into consideration that Salary Reduction Agreements are effective the month after they are received. For example, if you are completing
the calculator in February (with your 01/31/10 paystub), any change will be effective in March; therefore the calculator bases the "Salary to be paid to you for the
remainder of the year" field on 10 months of salary.

NOTE: Your Mandatory contributions, if any, are not considered for the IRS voluntary limit so they do not need to be entered on this calculator.

Disclaimer: This calculator is designed to help you determine your contribution percentage in order to reach the IRS voluntary contribution limit
for the calendar year. The calculator uses information entered by you based on your salary and age. Should any of this information change, it is
your responsibility to reevaluate your contribution percentage. Changes to your contribution percentage can be made once a calendar quarter.
Vanderbilt University will not be held liable should you not maximize your contribution based on information provided by this calculator. Use this
calculator at your discretion.

				
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Description: Retirement Year Calculator document sample