University Human Resource Services
IU Supplemental Retirement Plans
Are You Saving Enough for Retirement?
The need to save more money for retirement years has never been greater.
The rising cost of living, including health care expenses and increasing
life expectancy, has dramatically increased the amount of savings a person
will need during retirement years.
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| How You Can Boost Your Retirement Savings | ||
| Michael buys a soft drink from a fast food restaurant once a day for a total of $50 each month. If he contributed this same amount to a supplemental retirement plan, he could potentially earn the following: | ||
After 5 years |
$ 3,698 | |
10 years |
$ 9,208 | |
15 years |
$17,417 | |
20 years |
$29,647 | |
25 years |
$47,868 | |
| Disclaimer: This hypothetical example is based on monthly contributions of $50 made to a supplemental retirement plan and a hypothetical 8% annual rate or return compounded monthly. | ||
