403(b) Savings Calculator

403(b) plans are only available for employees of certain non-profit tax-exempt organizations: 501c(3) Corps, including colleges, universities, schools, hospitals, etc. If you are an employee of one of these organizations, a 403(b) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 403(b) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide additional contributions to your 403(b). The combined result is a retirement savings plan you cannot afford to pass up.

Your 403(b) could be worth TOTAL_AT_END_OF_INVESTMENT_WITHFEE after YEARS years.

This includes your current contribution of CONTRIBUTE_ANNUAL per year and a starting 403(b) balance of STARTING_AMOUNT. Your current plan has you contributing CONTRIBUTE_PERCENT of your annual salary up to the IRS annual maximum of CONTRIBUTE_MAXIMUM. We also included your estimate of a SALARY_INCREASE salary increase per year and an annual investment fee of INVESTMENT_FEE. **GRAPH**

Your 403(b) total also includes an employer match/contribution of EMPLOYER_ANNUAL per year which is EMPLOYER_MATCH of your annual salary. Without your employer's match your ending 403(b) would be reduced to NOMATCH_AT_END_OF_INVESTMENT.

Results Summary
Current 403(b) balance STARTING_AMOUNT
Years to investYEARS
Annual rate of return RATE_OF_RETURN
Annual salary ANNUAL_SALARY
Annual salary increase SALARY_INCREASE
Percent to contribute CONTRIBUTE_PERCENT
Your 403(b) contribution* CONTRIBUTE_ANNUAL per year
Your employer's 403(b) match/contribution EMPLOYER_ANNUAL per year, EMPLOYER_MATCH of salary
Total you will contribute TOTAL_AMOUNT_YOU_HAVE_PAID_IN
Total your employer will contribute TOTAL_AMOUNT_EMPLOYER_PAID_IN
Total at age AGE_OF_RETIREMENTTOTAL_AT_END_OF_INVESTMENT_WITHFEE
This total includes a INVESTMENT_FEE annual investment fee. Without this fee your total would have been TOTAL_AT_END_OF_INVESTMENT.
Total without employer matchNOMATCH_AT_END_OF_INVESTMENT

*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 2014 is $17,500. If you are age 50 or over, a "catch-up" provision allows you to contribute an additional $5,500 into your 403(b) account. It is also important to note that employer contributions do not affect an employee's maximum annual contribution limit.

403(b) Balance by Year

**REPEATING GROUP**

403(b) Savings Calculator Definitions

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.
Annual salary
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.
Current age
Your current age.
Age of 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.
Current balance
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 S&P 500® for the 10 years ending Dec. 31st, 2013 had an annual compounded rate of return of 7.3%, including reinvestment of dividends. From January 1970 through the end of 2013, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.6% (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 bank 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 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 2014 is $17,500. If you are age 50 or over, a 'catch-up' provision allows you to contribute an additional $5,500 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.



The Best Financial Calculators Anywhere!

Put them on your website!

© 1998-2014 KJE Computer Solutions, LLC
Financial Calculators at http://www.dinkytown.net
(612) 331-2291
1730 New Brighton Blvd. PMB #111
Minneapolis, MN 55413