FAQ
Why does this exist?
- to eliminate the need for calculating ucrp values and supplemental acct growth;
- also to facilitate planning;
- also to incorporate historical changes into future projections
Assumptions
- Some assumptions had to be made to do calculations and they should be as transparent as possible
- working at UCLA for the remainder of career with no supplemental sources of income
- historical IRA caprates increase sporadically and the cap raises in the calculations go with a conservative interpretation of the average
- also to incorporate historical changes into future projections
- assumes UCRP pension plan, not the new post 2016 savings plan
- 457 v 403 - currently locked into only the 457 because that allows a more flexible time free
- the tax rates in the future cannot be predicted so it is up to you to understand the tax burden of roth vs every other kind of account (which is taxable)
Penalties
- Why do I have penalties?!
- these happen when withdrawing early from 403 or Roth in certain conditions; examine your variables
- Can I get around these?
- yes. with loans against the account; SEPP; emergencies; etc, although this does not apply as easily to the 457