Most retirement plans offer traditional contributions, which are made on a before-tax basis. Taxes are due on these contributions, and any earnings, when the money is withdrawn. Many plans are now offering Roth contributions as well. Roth contributions allow you to contribute to your retirement account on an after-tax basis. An advantage of this type of contribution is that you pay no taxes on the contributions - and any earnings - for qualifying distributions. Use this calculator to help compare how each type of contribution might affect your paycheck and your taxable situation at retirement.
Jefferson Financial Federal Credit Union
7701 Airline Drive
Metairie, LA 70003