Withdrawing money from a qualified retirement account, such as a 457 plan, can create a sizable tax obligation. Use this calculator to see what your net withdrawal would be after taxes are taken into account.
457 Plan Withdrawal Calculator
457 Plan Withdrawal Calculator Definitions
- Amount to withdraw
- The amount you wish to withdraw from your qualified retirement plan. Withdrawals are subject to income tax. For this calculation we assume that all contributions to the retirement account were made on a pre-tax or tax deductible basis. If you made contributions that were subject to income taxes, you may not owe taxes on the entire withdrawal. You should consult your tax or legal advisor concerning your particular situation.
- Federal income tax rate
- Your estimated federal tax rate. If you are unsure, the calculator will choose 25%. Please note that state taxes are entered in a separate entry field. **TAXTABLE_CURRENT_DEFINITION**
- State income tax rate
- The current state marginal tax rate you expect to pay on any additional income (or taxable distributions).