Contributions
You have the ability to make 2 types of contributions in the Planner; Standard Contributions and Income Linked Contributions.
How can I assess my annual contributions?
Go to Insights > Savings and open the Contributions and Investment Returns chart. It shows the total contributions the planner models each year, after limits are applied. This includes income-linked contributions, standard contributions, and employer contributions.
The contribution card on Income > Work shows each contribution exactly as you entered it, including the frequency. If you entered $3,000 per month, the card shows "$3,000 / mo." The card doesn't show the amount the planner models, which can be lower.
To compare the card with the chart, convert any monthly amounts to annual (multiply by 12) and add up all the contributions to the account. If an income-linked contribution is higher than the annual limit for that account type, the planner models only the amount up to the limit.
Standard contributions are funded only when there is excess income after expenses, so they can also make the chart's total lower than what you entered.
Income Linked Contributions
Best For
Contributions that are deducted from your paycheck
An employer match
Contributions that you want to occur no matter what
Contributions made for retirement plans like 401(k), 457(b) or 403(b)
Employer contributions to 401(k), 457(b) or 403(b) plans, with the Non Elective Contribution option.
Where can I add Income Linked Contributions?
Where can I edit and delete Income Linked Contributions?
How do Income Linked Contributions Increase Over Time?
When using both the Dollar and Percentage options, income linked contributions increase based on your income growth rate assumptions. And, you can choose to auto escalate your contributions as well.
For 457(b), contributions follow the same income growth rate assumptions when recorded as Income-Linked Contributions, allowing for escalations in line with income adjustments.
What contribution limits does the Planner apply to Income Linked Contributions?
When you enter a paycheck deduction as an Income Linked Contribution, the planner captures the amount withheld from your paycheck, subject to the IRS elective deferral limit per account type. If you're permitted to contribute more, enter the additional amount as a Standard Contribution in Money Flows.
Roth and traditional 401(k) contributions share one annual limit per person. If you have both, the planner applies the limit to the combined amount. If you have multiple account types, the planner captures annual contribution limits for one 401(k) or 403(b) and 457(b) per person.
How are Income Linked Contributions Funded?
Income linked contributions preclude funding of expenses. The contribution will be made and may create a gap between income and expenses. When this occurs, the Planner will drawdown from savings to fund your expenses.
Managing 401(k) Contribution Stop Dates in Boldin
Managing the stop dates for your 401(k) contributions in Boldin is essential for aligning your financial planning with your retirement goals. This guide provides step-by-step instructions for handling both income-linked contributions and independent stop dates. If your 401(k) contributions are income-linked, the stop date is automatically tied to your work stop date. To adjust these contributions to stop at retirement:
End the income stream associated with the income-linked contributions.
Use your Retirement Date as the stop date for the income stream.
The contributions will automatically update to reflect this change.
Setting Independent Stop Dates
For contributions that are not tied to your income or work stop date, you can set an independent stop date by creating a Recurring Contribution:
Navigate to My Plan > Money Flows > Recurring Contributions in the Boldin application.
Enter the details for your Recurring Contribution, including the desired stop date.
Save your changes to ensure the contribution is modeled correctly.
How do I exceed the contribution limits in Boldin?
To exceed the limits Boldin applies to income-linked contributions, add a Standard Contribution. Only enter amounts you are permitted to contribute. Standard contributions are funded only when there is excess income after expenses, so they may not be fully funded in every year.
Where can I add Standard Contributions?
Navigate to the Money Flows section in the Planner.
Find the Recurring Contributions option to input your Roth or Traditional IRA contribution.
Log your contributions as a standard entry within the Contributions section to ensure they are updated appropriately in your financial plan.
Where can I see a demonstration of the feature?
Where can I edit and delete Standard Contributions?
What are Standard Contributions Best For?
Contributions that you want funded after all expenses are met.
After-tax contributions for a mega-backdoor Roth conversion
How do Standard Contributions Increase Over Time?
Standard contributions increase at the rate you have entered in Assumptions for General Inflation.
How do I add catch-up contributions at age 50 and at ages 60 to 63?
Boldin doesn't add catch-up contributions automatically. Income Linked Contributions are limited to the standard annual limit, so to add the age 50 catch-up, or the higher catch-up for ages 60 to 63, enter the amount above the standard limit as a Standard Contribution for the years it applies.
Standard Contributions are funded only when there is excess income after expenses. Whether you're eligible for a catch-up depends on your plan and account type, so check with your plan administrator.