I now have access to my employers non-qualified deferred compensation program, and I'm struggling how to handle that in the planner. Let's say I defer $75,000 from my 2017 annual salary. The deferall occurs on a pre-tax basis. I can choose to receive the $75,000 back in 2022 in a lump sum, plus any gains received on the investments I made in the plan. What is the best way to enter that it the Planner?
I have a Cash Balance Plan defined benefit pension. It's defined contribution by the employer while employed, then the balance is available to me as a defined benefit at retirement. The cash balance can be used to purchase an annuity or taken as a lump sum and rolled over to an IRA. (I also could take it as a lump sum and pay income taxes on it, if I wished.)
I currently have it modeled as a lump sum rollover by setting my last year's employer retirement match as the amount I'd normally get as my match, plus the balance of that cash balance plan.
Under my Federal Employee Pension plan my pension benefits are indexed. The only way I have been able to get the ESP model to correctly show what is effectively a real constant benefit is to set the overall inflation rate to zero. This makes some of the other values incorrect. I would like to set the inflation parameters to what I expect over time and allow different rate of indexation to various forms of income and expense.
Is Federal Income Tax calculated and applied for withdrawals from 457(b) retirement accounts? Are the annual withdrawals listed in the Total Income report table before tax?
I put my annual bonus into a deferred compensation plan which defers all taxes until withdrawal, the withdrawal is in 10 annual installments beginning at retirement. How should I enter this? Currently I include the bonus as part of my annual salary, put the accumulated balance in the "supplemental retirement accounts", and am not sure where to enter the annual savings amount (should I lump it together with my 401(k) deductible contribution or put it somewhere else)?