Retirement Contribution Effects on Your Paycheck
An employer-sponsored retirement savings account could be one of your best tools for creating a secure retirement. It provides two important advantages. First, all contributions and earnings are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your account, which can range from 0% to 100% of your contributions. Use this calculator to see how increasing your contributions to a 401(k), 403(b) or government 457 plan can affect your paycheck as well as your retirement savings.
This calculator uses 2023 withholding schedules, rules and rates (IRS Publication 15).
See Definitions below for more information.
To use this calculator, change entries and select “Calculate” to view new results.