403(b) Savings Calculator
Predicting what a 403(b) retirement account will eventually be worth is challenging. There are a lot of variables to take into account that can make a huge difference in the growth of your nest egg. There's not only your annual contributions and return on investment to consider, but also investment fees, expected salary increases, employer contributions, years to retirement and more. While it's nearly impossible to predict the exact performance of your retirement account, this 403(b) Savings Calculator can help you nail down a good ballpark figure or a range of best- to worst-case scenarios for the growth of your 403(b) account up through your retirement. It also lets you see how making certain changes, like increasing contributions or working longer, will affect the eventual size of your retirement account and guide you in making financial decisions.
Financial Calculators from
403(b) Employee Savings Plan:
Press spacebar to hide inputs
403(b) Employer Contribution/Match:
Press spacebar to hide inputs
Your total is $584,368 without fees and $467,778 with fees, after 35 years.
press spacebar to hide graph
Amount to contribute
This is the amount that you contribute to your 403(b) plan each year. Participants can contribute up to 100% of their annual income, subject to an annual maximum.
This is your annual salary from your employer before taxes and other benefit deductions. Since your contribution and any company match are based on the salary paid to you by your employer, do not include any income you may receive from sources other than your employer.
Your current age.
Age at retirement
Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your 403(b). So if you retire at age 65, your last contribution occurs when you are actually 64.
The starting balance or current amount you have invested or saved in your 403(b).
Annual rate of return
The annual rate of return for your 403(b) account. This calculator assumes that your return is compounded annually and your deposits are made monthly. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31st 2018, had an annual compounded rate of return of 12.1%, including reinvestment of dividends. From January 1, 1970 to December 31st 2018, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.2% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances.
It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge.
Annual salary increase
The annual percentage you expect your salary to increase. We assume that your salary will continue to increase at this rate until you retire.
Annual investment fee
This is an annual fee based on the balance of the account.
403(b) Employer contribution/match (percent)
An employer contribution or match is in addition to your annual contributions. If it is based on a percentage of your annual salary enter that amount here and the dollar amount will be calculated.
403(b) Employer contribution/match (dollars)
An employer contribution or match is in addition to your annual contributions. If it is based on an annual dollar amount, enter that amount here and the annual percentage will be calculated.
Annual contribution limits
Your total contribution for one year is based on your annual salary times the percent you contribute. However, your annual contribution is also subject to certain maximum total contributions per year. The annual maximum for 2019 is $19,000. If you are age 50 or over, a 'catch-up' provision allows you to contribute an additional $6,000 into your 403(b) account. It is also important to note that employer contributions do not affect an employee's maximum annual contribution limit.
In addition, an additional catch-up provision for participants that did not participate in the plan earlier in their tenure may be available. These special catch-up provisions are subject to length of employment and other contribution rules. Determining your maximum contribution based on these additional catch-up provisions is beyond the scope of this calculator.
About 403(b) Accounts
403(b) plans are a type of defined contribution retirement account available to certain employees of schools and various nonprofit organizations, including hospitals, charities and members of the clergy. They're almost identical to 401(k) plans, which are the type used in the for-profit sector, with a few differences. The main differences are that 403(b)s may vest immediately or over a shorter period of time than a 401(k), but sometimes offer fewer investment options.
A 403(b) is a type of tax –sheltered annuity plan, which allows you to invest pretax earnings in a retirement account and allow those funds to grow tax-free as well. You are only taxed on the disbursements you take after retirement, though you'll likely have to pay a 10 percent penalty on any money you withdraw before age 59 ½.
As with a 401(k), your employer can make pretax matching contributions to your account, which you are only taxed on when you make withdrawals.
Another option is a Roth 403(b), in which you make after-tax contributions, but your earnings and eventual withdrawals are tax-free, provided the latter are qualified distributions.
As with a 401(k), there's a limit on how much you can contribute to a 401(b) each year. For 2016, that figure is $18,000, though investors age 50 and older can make an additional "catch-up" contribution of up to $6,000 a year, for a maximum of $24,000.
Those who have worked at the same nonprofit for at least 15 years can make a catch-up contribution of $3,000 a year, regardless of age, provided their previous contributions have averaged less than $5,000 a year.
Note that you typically designate your contributions as a percentage of your salary and not as a figure.
Using the 403(b) Savings Calculator
The calculator will not only take into account your current salary, but also anticipated salary increases and the higher contributions you can expect as a result.
Most of the entries in the calculator are self-explanatory, but the following may be helpful.
- Annual salary : Enter your total pretax salary, before any deductions
- Percent to contribute: The percentage of your annual salary that you are having withheld to invest in your 403(b)
- Current age: How old you are now.
- Age of retirement: The standard age is 65, but playing around with this figure by adjusting the sliding green triangle will give you an idea of the financial impacts of delaying or taking an earlier retirement.
- Current 403(b) balance: How much is currently in your 403(b) account, if you already have one.
- Annual rate of return: The average return on your investments you expect to earn between now and retirement. You may be surprised how much small changes in this figure can change the amount available to you at retirement.
- Annual salary increase: Annual raises will increase the contributions made by both you and your employer to your 403(b).
- Annual investment fee: What your Plan Sponsor charges each year for managing your account. Though the number may seem small, this can have a big impact on the long-term growth of your account, as this comes right off the top of any earnings.
- Total employee contributions: The calculator will determine his for you.
For employer contributions:
- Percent of salary: Your employer's annual match, as a percent of your salary.
- Amount per year: An alternative to the above, if you employer contributes a certain fixed amount rather than a percentage of your salary.
- Total employer contributions: Will be determined by the calculator.
When you are finished, the calculator will show you how much you can expect your 403(b) account to contain at the time your retire. For a more complete breakdown, click "Show report" at the top of the page.
Other Mortgage and Financial Calculators
In addition to the standard mortgage calculator, this page lets you access more than 100 other financial calculators covering a broad variety of situations. Choose from calculators covering various aspects of mortgages, auto loans, investments, student loans, taxes, retirement planning and more.
- Adjustable Rate Mortgage Calculator
- Interest Only ARM Calculator Overview
- How much can I borrow?
- Mortgage comparison: 15 years vs 30 years
- Balloon Loan Calculator
- ARM vs. Fixed-Rate Mortgage Calculator
- APR Calculator for Adjustable Rate Mortgages
- Bi-weekly Payment Calculator
- Blended Rate Mortgage Calculator
- Fixed Rate Mortgage vs. Interest Only ARM calculator
- Mortgage Tax Savings Calculator
- Rent vs. Buy Calculator
- Mortgage Payoff Calculator
- Mortgage Required Income Calculator
- Interest-Only Mortgage Calculator
- Mortgage Qualifying Calculator
- Mortgage Calculator Simple (PITI) - Mortgage Calculation
- Mortgage APR Calculator
- Bi-Weekly Payment Calculator For an Existing Mortgage
- Enhanced Loan Calculator
- Existing Loan Calculator
- Mortgage Debt Consolidation Calculator
- Mortgage Points Break-Even Calculator
- Refinance Break-Even Calculator
- Refinance Calculator
- Auto Rebate vs. Low Interest Financing
- Bi-weekly Payments for an Auto Loan Calculator
- Dealer Financing vs. Credit Union Financing Calculator
- Auto Lease vs. Auto Buy Calculator
- Home Equity vs. Auto Loan Calculator
- Auto Loan Calculator
- Bi-weekly Payments for an Auto Loan Calculator
- Auto Loan Payoff Calculator
- Retirement Income Calculator
- 401(k) Net Unrealized Appreciation Calculator
- 401(k) Savings Calculator
- 403(b) Savings Calculator
- 457 Savings Calculator
- 72(t) Distribution Impact Calculator
- Beneficiary Required Minimum Distributions
- Pension Plan Retirement Options
- Retirement Contribution Effects Calculator
- Retirement Planner
- Roth vs. Traditional IRA Calculator
- 72(t) Distribution Options Calculator
- Social Security Benefits Calculator