IAFF “15 by 5” Principle
The IAFF “15 by 5” Principle encourages all IAFF members to build up to 15% compensation deferral into their 457(b) plan within 5 years of enrollment, growing their available retirement income at a steady rate without feeling any major deficit in the income they bring in monthly. Whether in the beginning stages of your career or with 20+ years on the job, applying the “15 by 5″ Principle fosters a continuous stream of retirement income, which is essential to achieve retirement goals and maintain future quality of life.
Beginning with 5% deferral, with an annual increase of 2% totals a 15% deferral rate within 5 years of enrollment, all while keeping the percentage of increase at a maintainable level.
This Calculator is designed to help members plan for retirement at any stage in their career by simulating what applying the 15 by 5 principle to their planned deferred compensation.
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