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 You only pay taxes on contributions and earnings when the money is withdrawn.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 457 plan can affect your paycheck as well as your retirement savings. This calculator uses the 2013 withholding schedules, rules and rates (IRS Notice 1036 January 2013).
STAY UP TO DATE
Sign up for our newsletters so you can have the latest delivered to your fingertips.