403b Retirement Calculator

Calculate your retirement earnings with accuracy! Our 403b calculator allows you assess how your annual savings, expected rate of return, your current age, and other dynamic factors impact your monthly retirement income. Using our calculator, you can have a detailed report on the yearly breakdown of your retirement savings. So, get your finances streamlined and plan ahead for your ideal retirement life.

Total Employee Contributions:

Total Employer Contributions:

Your total is

Factors Influencing Your 403(b) Calculations

The reason why our 403b retirement calculator delivers accurate results is that it covers all the factors that can impact your retirement income. By integrating all these, it will provide you with a comprehensive report on the exact amount you will receive overall. Below are the elements or factors you should understand before calculating your income:

• Initial Balance

Before you sign up for a 403(b) retirement plan, you should have a clear idea about the initial amount in your retirement account. By knowing so, you can assess how much more you need to contribute and save up to lead your ideal retirement life. Moreover, the initial balance is also an important factor in calculating your monthly retirement income. Our technology-integrated 403b calculator uses this information along with other factors to deliver accurate outcomes.

• Amount to Contribute

The plan holders have to contribute to this plan every year. Our calculator provides results based on these contributions. Moreover, the results we offer are provided based on the assumption that you make your contribution at the beginning of each year. These include contributions from both the employee's and the employer’s end. It also assumes that you make withdrawals at the beginning of every month. Your overall amount contribution should include any other retirement accounts and any retirement savings in non-retirement accounts you have.

• Annual Salary

This calculator also requires the salary your employer provides on an annual basis before tax deductions or any benefits. This is because your contribution and employer match depends on the salary you get. The calculation of your total retirement savings doesn’t involve any income you receive from sources other than the employer. After all, only you and your employer is contributing in your retirement plan and not any other party.

• Current Age

Apart from all the other factors, our 403b calculator also requires your current age. After all, how old you are right now helps evaluate how much time is left for you to save up until you reach your retirement age.

• Age of Retirement

Your 403b helps you save up until you reach the age at which you retire. Our calculator assumes that you reach no more contributions will be made after you reach retirement age. Your last 403b contributions will be made one year before you retire.

• Current Balance

To provide a thorough report on your retirement income, our calculator also demands you provide your current retirement savings. This includes the amount you have saved up till now with your 403b plan. These stats will allow the calculator to evaluate how much amount you are expected to save till the term of your plan ends.

• Annual Rate of Return

The annual rate of return for your 403(b) account is the yearly growth of your investments. Our 403b calculator assumes that your returns are compounded annually, and you make deposits every month. Keep in mind that the actual return depends on the investment option you choose for your plan. Besides, future returns cannot be predicted and higher returns can mean higher risk. Your actual returns may also be missing any additional fees or charges that investment funds may have.

Let’s explain this in a better way for you with some hypothetical terms. According to Standard & Poor’s 500 for the last 10 years ending December 31, 2016, the annual rate of return was 6.6%. Let’s talk about the annual compound rate of return for even longer period beginning from January 1, 1970, to December 31, 2016. It was 10.3% according to Standard & Poor’s 500. Besides, the highest actual return over any 12-month period (spanning June 1982 and June 1983) has been observed to be 61%. And the lowest annual rate of return was -43% between March 2008 and March 2009. 0.25% is the typical interest rate for savings accounts at financial institutions, representing an actual rate commonly offered.

• Annual Salary Increase

Your salary increments also impact your overall retirement income. This is also one of the vital factors you need to provide for the correct assessment of how much you will receive on the whole according to this plan.

• Annual Investment Fee

You also need to provide your annual investment fee in percentage as it is another necessary requirement for the error-free evaluation of the amount you can enjoy as you retire and transition into the life you want to lead.

Other Financial Factors You Should Know

Here are some more financial aspects that can impact your overall retirement income:

• Employer Contribution (in percentage and dollars)

This is the amount contributed by the employer of the plan holder. It can be based on a certain percentage of your annual salary or an annual dollar amount. This also has an impact on your overall contributions and withdrawals.

• Annual Contribution Limits

You should know that you can contribute to your 403b plan only up to a limited amount which is based on your annual salary. Moreover, the guidelines won’t allow you to contribute any more than the set amount. Those who are at age of 50 or more than that are also eligible for catch-up provisions. In such cases, the catch-up provisions are also included in the annual contributions.

Your total 403(b) contribution each year depends on how much you earn and the percentage of your salary you decide to contribute. For instance, as of 2017, workers could contribute to your 403(b) in one year is $18,000. On top of your $18000 limit, you could also contribute a catch-up amount of $6000 each year if you are older than 50. You should also know the fact that employer contribution doesn’t impact the maximum contribution limit of the employee. It means the money your employer adds is other than what you are allowed to contribute.

Our 403b Calculator Makes Retirement Planning Hassle-Free!

Undoubtedly, 403(b) plans can be an ideal choice for employees of certain non-profit tax-exempt organizations: 501c (3) Corps, including colleges, universities, schools, hospitals, etc. After all, it paves them a clear and hurdle-free way to a secure retirement life. These employer-sponsored plans come with two major benefits:
  • 403(b) plan is tax-deferred; you only pay taxes when the money is withdrawn
  • Employer matching ranging from 0% to 100% makes the plan too good to miss out on
Furthermore, if you have signed up for a plan, you should know what to expect from it. However, it is quite overwhelming to do so manually. So, how will you assess what this plan holds for you aka the benefits of the 403(b) plan? For this, our 403b retirement calculator has you covered. It’s a highly efficient, technology-integrated tool, ready to help you calculate the monthly income your retirement savings will provide you. Don’t live with guesses; with our calculator, always be clear about what your pension planning holds for you.

Sort Out Your Retirement Income with Our 403b Calculator!

Want to know how much you will be receiving from your 403b retirement plan? Making these calculations on your own can be really stressful. Plus, there is a high chance of making errors. So, instead of doing it on your own, you can use our 403b retirement calculator. It’s integrated with high-end functionalities so you can get precise results, whether you have a traditional or Roth 403b plan. All you need to do is provide information about the above financial aspects and get a report on your retirement income status. Whether 403b or 457b – or any other retirement plan, you can always rely on us for the financial guidance you need.

Get Professional Advice from Our Vetted Consultants!

At State Pension Advisors, we have you covered for all your retirement planning needs. Based on the results from our efficient 403b calculator, our expert consultants can provide you with insight advice, and guidance. So, no more second-guessing or missing opportunities; contact us and take the first step toward your ideal post-retirement life.

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Note: This calculator is made available to you as a self-help tool and for informational purposes only. It is for your independent use and not at all reliable for investment advice. For consultation or guidance regarding retirement plans, it is better you reach out to a professional retirement consultant.

Frequently Asked Questions

We are always ready to help you navigate the complexities of your 403b retirement plan with ease. Here are some of the most frequently asked questions that we hear from our clients’ end:

How does a 403b plan work?

403b is a retirement plan offered to government, public school, and non-profit employees. It allows employees to save up a specific amount every month for their retirement. Employers can also contribute to it. For more information, you can reach out to us.

How much will be the worth of my 403b plan? 

Your 403(b) account's value depends on your contributions, employer matches, investment choices, and market performance. Use our 403(b) calculator to estimate your future savings based on these factors and your expected rate of return.