What will dues cost you?
When you agree to pay dues to a union, you are deciding NOT to do other things with that money.
- For instance, what if you took that same 1½ – 2% of pay and placed it into a 401(k) plan or savings account?
- How much money would you save towards retirement?
Remember, the company matches non-union 401(k) contributions at 100% for up to 6% of your pay. That’s a great return on your investment!
- Use the calculator below to get a quick idea of how much those dues may be costing your retirement.
- Put in an anticipated monthly dues amount.
- Select the next 2 variables (expected return, and years until retirement), and then hit the calculate button.
- You can hit the “reset” button to calculate using different rates of return or other differences.
|401(K) Plan Calculator|
|Monthly dues amount|
|Estimated Rate of Return|
|Years until retirement|
|Total dues spent|
|Total Possible Savings|
This is an estimate. Actual amounts may vary. Includes 100% company match.