403(b) Calculator
Calculate your 403(b) retirement savings growth with employer matching and tax advantages
403(b) Retirement Calculator
Personal Information
Your current age affects catch-up contribution eligibility
Age when you plan to retire
Financial Information
Current balance in your 403(b) account
Your current annual gross salary
Contribution Settings
Annual: $2,500
Annual: $1,500
Growth Assumptions
Expected annual investment return
Expected annual salary growth
403(b) Projection Results
Contribution Breakdown
Annual Amounts
Example Calculation
Teacher's 403(b) Example
Age: 30 years old teacher
Salary: $55,000 annually
Employee contribution: 8% ($4,400/year)
Employer match: 3% ($1,650/year)
Current balance: $5,000
Retirement age: 65 (35 years to save)
Expected return: 7% annually
Projected Results
Total contributions: ~$360,000 over 35 years
Investment growth: ~$540,000
Final balance: ~$905,000
*Assumes 2% annual salary increases and compound growth
403(b) Plan Features
Tax-Deferred Growth
Contributions reduce current taxable income
Employer Matching
Free money from employer contributions
Catch-up Contributions
Extra contributions at age 50+
2024 Contribution Limits
403(b) Tips
Contribute enough to get full employer match
Start early to maximize compound growth
Consider Roth 403(b) for tax diversification
Increase contributions with salary raises
Available for nonprofit and government workers
Understanding 403(b) Retirement Plans
What is a 403(b) Plan?
A 403(b) plan is a retirement savings plan available to employees of nonprofit organizations, public schools, and certain government agencies. It offers tax advantages similar to a 401(k) but is specifically designed for public sector and nonprofit workers.
Who is Eligible?
- •Public school teachers and administrators
- •Hospital and healthcare workers
- •Nonprofit organization employees
- •Religious organization workers
Tax Benefits
- Traditional 403(b): Pre-tax contributions, taxed on withdrawal
- Roth 403(b): After-tax contributions, tax-free withdrawals
- Tax-deferred growth: No taxes on investment gains until withdrawal
Key Differences from 401(k)
- Investment options: Limited to mutual funds and annuities
- Employer matching: Less common than 401(k) plans
- 15-year rule: Additional catch-up contributions for long-term employees