Are You Financially Fit? Retirement experts recommend that you save 15% of your annual salary every year, throughout your career, to replace 85% of your final year’s salary in retirement. This 85% comes from all sources: your pension, Social Security, and personal savings. Explore the chart below to see if you’re on track to save for your retirement. To retire at age 65 with 85% of your income from all sources, you must save throughout your career. Determine Whether Your Retirement Savings are on Track By Age BENCHMARKS FOR SAVING* 30 0.60 x YOUR SALARY 35 1.30 x YOUR SALARY 40 2.10 x YOUR SALARY 45 3.10 x YOUR SALARY 50 4.20 x YOUR SALARY 55 5.40 x YOUR SALARY 60 6.90 x YOUR SALARY 65 8.60 x YOUR SALARY *Assuming a starting salary of $25,000, a constant wage growth of 2%, 5% interest credit earned, a replacement ratio of 85%, and retirement age of 65. Are you saving enough? NOT QUITE… Don’t worry. Time is on your side. If you haven’t opened up a 403(b) Smart Account, now is the time to do so. There is no minimum required amount to get started. Start today and be consistent. Your savings will add up with daily compound interest and your contributions protected against market fluctuations. To learn more about how compound interest works, check out our video. ALMOST… Keep it up! If you currently have a 403(b) Smart Account, when was the last time you considered increasing it? Perhaps now is the time to add an additional contribution. It all adds up! Log in to your account and use the Retirement Goal Calculator to determine how much more you need to add to your monthly savings. YES! Congratulations! Now is the time to think about planning for your retirement. Remember, we have the tools to help you. Log in to your account and run an annuity estimate to see what you can expect in your golden years.