Finance tools
457 plan calculator — 457(b) balance at retirement
Free 457 plan calculator for U.S. state and local government employees. Model deferred compensation deferrals, an optional employer match, and growth assumptions to see an estimated balance at retirement, review the yearly chart, and export CSV or PDF—no sign-up.
What is a 457(b)?
A 457(b) is a U.S. deferred compensation retirement plan—often called a 457 plan in benefits materials. Governmental 457(b) plans are sponsored by states, cities, counties, and many public universities. You save from each paycheck with pre-tax traditional deferrals or Roth 457(b) deferrals when your plan offers them. Elective deferral dollar limits track the same IRS caps as 401(k) plans in 2026, but 457(b) limits are a separate bucket—you may be able to max both a 457(b) and a 401(k) or 403(b) if you have access to multiple plans.
Do not confuse governmental 457(b) with non-governmental 457(b) or 457(f) “top hat” plans for highly compensated employees—rules and withdrawal treatment differ. This 457 plan calculator is built for typical governmental deferred comp modeling. Payout timing, loans, and in-service access vary; many governmental 457(b) plans allow separation-from-service withdrawals without the usual 10% early-withdrawal penalty on qualifying distributions (income tax may still apply).
Have a 401(k) or 403(b) instead? Use our 401(k) calculator or 403(b) calculator. You choose the return assumption; we do not recommend specific investments or predict markets.
What is deferred compensation?
Deferred compensation means you postpone part of your wages until a later date—usually retirement—through a written plan. A 457(b) is one type of deferred comp vehicle for eligible public employers. This 457 retirement calculator estimates how those postponed dollars might grow with ongoing deferrals; it does not replace your plan’s legal documents or enrollment materials.
Who can contribute to a 457(b)?
Generally, you can defer into a 457(b) when your employer sponsors a plan and you are an eligible employee. Common sponsors include:
- State and local governments (cities, counties, states, public authorities)
- Public universities and community colleges
- Public safety and transit agencies (police, fire, EMS, transit authorities—when the governmental employer sponsors the plan)
- Some tax-exempt organizations that offer a 457(b) (less common than 403(b) in the nonprofit sector)
Independent contractors, elected officials without wages, and some part-time employees may not be eligible. Your summary plan description (SPD) or benefits office confirms enrollment rules.
We do not verify eligibility. The calculator models savings if you can defer; set employer match to 0% if your plan does not offer a match.
Common enrollment questions
New hires may have a waiting period. Some plans exclude employees under minimum hours. Part-time and seasonal rules vary—your employer’s plan document is definitive.
457(b) vs 403(b) at the same employer
A few large health systems or universities offer both plan types to different employee groups. If you are unsure which account you have, check your pay stub deduction label and SPD—not every public-facing job uses a 457(b). Model the account you actually defer into on this page.
How to use this 457(b) calculator
Enter age and salary
Set your current age, planned retirement age, and annual salary. This works as a 457(b) calculator by age: changing either age updates how many years you save and compound.
Add contributions and optional match
Enter your deferral (% of salary or a fixed monthly amount). If your plan offers employer contributions, add match rate and match cap (% of salary). Defaults use 10% deferral and 0% match—typical for many governmental plans.
Set growth assumptions
Choose expected return, salary growth (default 3%), and plan fees. In Advanced, turn on IRS catch-up, optional special 457 catch-up, or inflation.
Review balance and export
Read your projected balance, match status, and any deferral-cap notice. Use the chart, yearly table, and CSV or PDF export if you want a copy for benefits meetings or personal planning.
Scenario presets
Public employee (10%) — 10% deferral, 0% match (typical governmental default on this page).
With match (6%) — 6% deferral with 50% employer match on the first 6% of salary.
Near retirement — ages 62→67 with special 457 catch-up enabled and plan normal retirement age 65 (illustrative only—confirm eligibility).
Example with default inputs
With defaults (age 30, retire 65, $75,000 salary, $10,000 starting balance, 10% deferral, 0% employer match, 6% average return), the projected balance is about $1,334,152. That is illustrative only—not a guarantee.
Use the With match (6%) preset if your employer contributes. Turn on catch-up in Advanced at age 50+ to model higher IRS deferral limits.
To compare starting later, keep salary and match fixed and change only ages—the chart shows how much came from your deferrals, employer match, and growth each year. Switch between % of salary and fixed monthly deferral modes if your plan uses a flat dollar amount per paycheck.
Optional employer match on a 457(b)
Many governmental 457(b) plans do not include an employer match—your savings come from payroll deferrals and investment growth. Some employers still offer a match or nonelective contribution; when they do, it is usually a percentage of what you defer, up to a cap based on salary (for example 50% of deferrals up to 6% of pay).
How to calculate 457(b) match: each month, match = min(your deferral, salary × cap%) × match rate. Leave match at 0% if your plan has no employer contribution.
If you do have a match, capturing the full amount before maxing IRS deferrals is often smart. If there is no match, focus on deferral rate, fees, and whether you also contribute to a 401(k) or 403(b) at another job.
Use the With match (6%) preset to model a sample match scenario. Results show full, partial, or no match based on your inputs.
No employer match?
Leave employer match at 0% and focus on deferral rate, fees, and years until retirement. Many state DCP and deferred comp programs are employee-funded only—your projected balance still reflects compounding on payroll deferrals.
Partial match example
On $100,000 salary with 50% match on the first 6%, deferring 3% ($3,000 per year) may yield about $1,500 in employer match—about half the $3,000 available at a 6% deferral. The calculator applies the cap each month so you can spot unused match.
2026 457(b) contribution limits
The IRS sets employee elective deferral limits each calendar year (what you contribute from pay). That is separate from employer contributions and from the combined annual additions limit (often cited around $72,000 in 2026). For governmental 457(b) plans, the age 50+ catch-up applies; confirm figures with your plan and the IRS.
When catch-up is enabled, this tool caps your deferrals at the IRS limit for your age. Employer match in the simulation does not count toward your elective deferral limit. We do not trim employer match when a combined total would exceed plan limits.
Turn on catch-up in Advanced for age 50+ limits, including SECURE 2.0 enhanced catch-up for ages 60–63. In the last three years before your plan’s normal retirement age, eligible participants may use the special 457 catch-up (up to an extra base deferral amount per year, $15,000 lifetime extra cap). Enable that toggle only if your administrator confirms eligibility.
| Age (2026) | Employee deferral limit | Total with catch-up (if enabled) |
|---|---|---|
| Under 50 | $24,500 | $24,500 |
| 50–59 | $24,500 | $32,500 (+$8,000 catch-up) |
| 60–63 (SECURE 2.0) | $24,500 | $35,750 (+$11,250 enhanced catch-up) |
| 64 and older | $24,500 | $32,500 (+$8,000 catch-up) |
| Special 457 (last 3 years before plan NRA) | Up to +$24,500 extra/year (capped by salary & $15k lifetime) | Advanced toggle + prior use field |
457(b) and 401(k) or 403(b) at the same time
If you work for an employer that offers both plans (or you have a 457(b) plus a 403(b) at a hospital system), you can often defer up to the full IRS employee limit in each plan because the limits are not combined. This calculator models one 457(b) account only—run separate scenarios or use our other retirement calculators for additional accounts.
Official sources: IRS 457(b) deferred compensation plans and Investor.gov — save for retirement. Limits change—verify before maxing out.
How this 457(b) growth calculator works
Instead of a single compound-interest formula, this 457 plan calculator uses a monthly simulation aligned with how payroll deferrals hit your account. Each month we adjust salary (with annual growth), add your deferral and optional employer match, then apply net growth after plan fees.
That matters when IRS limits, catch-up, or the special 457 catch-up stop deferrals mid-year—the yearly chart shows when contributions flatten and growth continues.
Employee deferral cap (annual)
When catch-up is on, employee deferrals for the calendar year are capped at the IRS limit for your age (including age 50+ or SECURE 2.0 enhanced catch-up, and optional special 457 catch-up in Advanced).
Deferrals also cannot exceed 100% of compensation for the year. If inputs would exceed either cap, the tool reduces deferrals and may show a warning.
Employer match (monthly)
match = min(deferral, salary × cap%) × match rateExample on $75,000 salary: 6% deferral ($375/month) with 50% match on the first 6% → up to $187.50/month employer deposit when you capture the full match.
Salary growth defaults to 3% per year, which raises pay and percent-based deferrals on each anniversary. Optional inflation in Advanced can show an inflation-adjusted balance alongside the nominal total.
Results include balance at retirement, deferral vs. match vs. growth totals, match status, a chart, and an exportable yearly table.
Modeling a lump sum without payroll or IRS rules? Try our compound interest calculator or future value calculator.
Tips to maximize your 457(b)
1. Set a sustainable deferral rate. Many public employees start around 5–10% of pay and increase after raises. Capture any employer match if your plan offers one.
2. Use separate limits wisely. If you also have a 401(k) or 403(b), remember 457(b) deferrals use their own IRS cap—coordinate totals with your benefits office.
3. Watch plan fees. Enter your expense ratio in Advanced; higher fees reduce long-term growth.
4. Use catch-ups when you qualify. At 50+, enable IRS catch-up. Ask HR before you use the special 457 catch-up toggle in the last three years before plan normal retirement age.
5. Connect paycheck to retirement. Our paycheck calculator estimates take-home after a deferral; this 457 retirement calculator projects balance at retirement.
6. Check purchasing power. Add inflation in Advanced, or explore scenarios with our inflation calculator.
457(b) calculator vs compound interest
This 457(b) growth calculator models payroll deferrals, optional employer match, and 2026 IRS deferral caps—not a single lump-sum compound formula. Use it when you need a deferred compensation calculator tied to workplace limits and pay growth.
For “$X per month at Y% for Z years” without a 457(b), employer match, or IRS caps, a generic savings calculator is usually simpler and faster to tune.
This 457(b) calculator
Payroll deferrals, optional employer match with a salary cap, 2026 IRS deferral limits (age catch-up, SECURE 2.0 ages 60–63, optional special 457 catch-up), salary growth, plan fees, and match status messaging.
Monthly simulation, yearly chart, deferral-cap warnings, breakdown table, CSV/PDF export.
Best for state/local employees and other governmental 457(b) participants planning balance at retirement.
Compound interest & future value
Flat or recurring contributions without employer match, payroll timing, or IRS deferral caps.
Good for emergency funds, CDs, brokerage savings, or teaching compound growth in a classroom.
Use our compound interest calculator or future value calculator when 457(b) rules are not needed.
Many state deferred comp websites embed a simple future-value widget. This page adds match, salary growth, fees, and deferral limits so your projection is closer to real plan mechanics—still an estimate, not a statement from your plan administrator.
Traditional vs Roth 457(b) (high level)
Many 457(b) plans let you choose traditional or Roth deferrals (or both). The main difference is when you pay income tax, not how investments compound inside the account. This calculator uses the same growth math for either type and does not estimate tax brackets.
Traditional deferrals are usually pre-tax, which lowers taxable wages now. Roth 457(b) deferrals are after-tax today. Your W-2 and pay stub show how your plan reports each election.
Traditional 457(b)
Deferrals are often pre-tax, lowering taxable wages now. Investments grow tax-deferred; withdrawals in retirement are generally taxed as ordinary income.
Often favored if you expect a lower tax rate in retirement than today—this tool does not model brackets.
Roth 457(b) & Roth IRA
Roth 457(b) deferrals are after-tax now; qualified withdrawals may be tax-free later. Roth 457(b) deferrals are not limited by Roth IRA income rules, but not every governmental plan offers a Roth source yet.
For Roth IRA contribution limits and MAGI phase-outs, use our Roth IRA calculator. We do not compute Roth vs. traditional tax outcomes here.
Tax modeling not included
Choosing traditional vs Roth affects take-home pay today and taxes in retirement. This tool projects account balance only—the same growth assumption for either election. Pair it with your pay stub, tax preparer, or plan education materials for tax decisions.
457(b) vs 401(k) and 403(b)
401(k) plans are common at for-profit employers. 403(b) plans are common at schools, hospitals, and many 501(c)(3) nonprofits. 457(b) plans are common at state and local governments and some other eligible employers. Elective deferral dollar limits are similar in 2026, but 457(b) limits are separate—you may contribute to a 457(b) and a 401(k) or 403(b) if you have access to both.
This calculator covers one 457(b) account only, not combined multi-plan totals. For other plan types, use our 401(k) calculator or 403(b) calculator.
457(b)
Typical employers: state/local government, public universities, some tax-exempt organizations.
May offer special 457 catch-up in the last three years before plan normal retirement age (Advanced toggle).
Governmental plans may allow separation-from-service withdrawals without the usual 10% penalty on qualifying distributions—confirm with your plan.
401(k) & 403(b)
401(k): for-profit employers. 403(b): many nonprofits and schools (often annuity or mutual fund menus).
403(b) may offer a 15-year service catch-up—not modeled here.
Use the matching calculator for the plan you are modeling; elective deferral limits do not offset each other against 457(b).
Which calculator should I use? Model a 457(b) on this page. Use the 401(k) calculator for corporate plans and the 403(b) calculator for typical nonprofit/school accounts. If you max one plan and still have room in your budget, run a second scenario on the other tool—this page does not add balances across plans automatically.
What we do not model
SECURE 2.0 catch-up (ages 60–63)
When catch-up is enabled, ages 60–63 use an enhanced catch-up ($11,250 in 2026 on top of the $24,500 base). Ages 50–59 and 64+ use the standard $8,000 catch-up. The simulation caps employee deferrals accordingly — not employer match or profit-sharing.
Special 457 catch-up
In the last three calendar years before your plan’s normal retirement age, you may defer up to twice the normal elective deferral limit (subject to salary and a $15,000 lifetime cap on the extra amount). We do not verify eligibility. Use the Advanced toggle only if your administrator confirms you qualify; enter how much of the $15,000 lifetime extra you have already used.
Combined annual additions (~$72,000)
IRS rules limit total employee deferrals plus employer contributions in a year (often cited around $72,000 for 2026 for many plans). This tool caps your deferrals only; it does not stop employer match when combined totals exceed the plan limit. Confirm with your plan administrator.
Vesting, loans, and early access
Employer contributions may vest over time. Governmental 457(b) plans often allow withdrawals after you separate from service without the 401(k)-style 10% penalty on qualifying distributions, but ordinary income tax usually still applies. Loans and hardships depend on your plan document. This calculator projects balance at retirement—not cash-out, RMD, or annuity quotes.
457(b) payout in retirement
This tool estimates account balance at retirement, not required minimum distributions (RMDs) or annuity quotes. A common educational shortcut for monthly income is the 4% rule (divide balance by 25 for a rough annual amount). Taxes, Social Security, pensions, and spending needs vary — see the FAQ on $2,000/month planning.
401(k), 403(b), and 457(b) together
Some public employers offer a 457(b) plus a 401(a), 401(k), or 403(b). Elective deferral limits are generally separate per plan type, but combined annual additions and plan-specific rules still apply. We do not optimize multi-plan contributions in v1—model your 457(b) here and confirm totals with your benefits office.
When to use a simpler calculator
For flat contributions without match or IRS caps, use our compound interest calculator. For take-home pay after a 457(b) deferral, use our paycheck calculator.
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Frequently asked questions about this 457(b) calculator
How much should I have in my 457(b) when I retire?
There is no one-size-fits-all target—it depends on income, pension, Social Security, and spending goals. This 457 calculator estimates how much your 457(b) could be worth at retirement from your deferrals, optional match, and growth assumptions.
Enter current balance, ages, salary, and deferral rate above. Change current age or retirement age to see how a longer or shorter timeline affects the total. Enable catch-up in Advanced when you are 50+.
How much should I contribute to my 457(b) each month?
There is no single right number—it depends on budget, other savings, and IRS limits. Many public employees start around 5–10% of salary. On $75,000 pay, 10% is about $625/month in deferrals (before taxes).
If your plan offers a match, defer enough to capture it first. Use this tool to see long-term balance impact—not next month’s take-home (see our paycheck calculator).
What percentage of my paycheck should go to a 457(b)?
A common starting range is 5–15% of gross pay, then increase after raises. Maxing the IRS deferral limit ($24,500 base in 2026) on $100,000 salary would require 24.5%—not realistic for everyone.
Use presets on this page or adjust the deferral % until the projected balance meets your goal. Add catch-up in Advanced when you are 50+.
What is the 457(b) contribution limit for 2026?
For 2026, the base employee deferral limit is $24,500 for most workers, plus age 50+ catch-up and SECURE 2.0 enhanced catch-up for ages 60–63 when enabled in Advanced. Combined employee and employer additions follow separate IRS limits (often cited around $72,000—confirm with your plan).
What is the 457(b) catch-up contribution for age 50+?
For governmental 457(b) plans, participants age 50 or older can make an additional $8,000 catch-up deferral in 2026 (on top of the $24,500 base). Ages 60–63 may use an enhanced $11,250 catch-up under SECURE 2.0 when catch-up is enabled.
Turn on catch-up in Advanced so this calculator caps deferrals at the correct annual limit for your age.
What is the 457(b) special catch-up (three-year rule)?
In the last three years before your plan’s normal retirement age, eligible participants may defer up to twice the usual elective deferral limit for that year (still capped by salary). The extra amount above the standard limit counts toward a $15,000 lifetime cap—not everyone qualifies.
In this 457 plan calculator, enable special 457 catch-up in Advanced only if your administrator confirms eligibility, and enter how much of the $15,000 lifetime extra you have already used.
Can I max out both a 401(k) and a 457(b)?
Often yes for elective deferrals: 457(b) limits are generally separate from 401(k) and 403(b) limits, so you may be able to contribute up to the full employee limit in each plan if you are eligible for both.
This calculator models one 457(b) only. Combined annual additions, plan-specific rules, and employer contributions still have caps—confirm with your benefits office before maxing multiple accounts.
How is a 457(b) different from a 401(k)?
401(k) plans are typical at for-profit employers. 457(b) plans are typical for state and local government and some other eligible employers. Dollar limits are similar in 2026, but 457(b) elective deferrals use a separate IRS bucket from 401(k) limits if you participate in both.
Governmental 457(b) plans may allow separation-from-service withdrawals without the usual 10% penalty on qualifying distributions. Model a 401(k) with our 401(k) calculator.
How is a 457(b) different from a 403(b)?
403(b) plans are common at schools, hospitals, and many 501(c)(3) nonprofits. 457(b) plans are common at governmental employers and some other eligible organizations. Both use payroll deferrals and similar dollar limits in 2026, but they are different plan types with separate deferral caps.
403(b) may offer a 15-year service catch-up (not modeled here). Use our 403(b) calculator for nonprofit plan modeling.
Do 457(b) plans have employer matching?
Many governmental 457(b) plans do not offer a traditional employer match—savings come from your deferrals and investment growth. When match exists, it is usually a percentage of what you defer up to a salary cap (example: 50% on the first 6% of pay): match = min(deferral, salary × cap%) × match rate.
Leave match at 0% if your plan has no employer contribution, or use the With match (6%) preset to test a sample formula.
Is there a 10% early withdrawal penalty on a 457(b)?
Governmental 457(b) plans often allow distributions after you separate from service without the 401(k)-style 10% early-withdrawal penalty on qualifying distributions. Ordinary income tax may still apply.
Non-governmental 457(b) rules differ. This calculator does not model withdrawals—confirm access rules with your plan administrator.
How much will my 457(b) be taxed when I withdraw?
Traditional 457(b) deferrals are generally taxed as ordinary income when withdrawn. Roth 457(b) qualified withdrawals may be tax-free on contributions and earnings, depending on plan rules and holding periods.
This tool projects account balance, not tax owed. We do not model federal, state, or local brackets.
Is a 457(b) better than a Roth IRA?
Neither is universally “better.” A 457(b) is a workplace plan with much higher deferral limits and payroll deductions. A Roth IRA is an individual account with its own annual limits and income phase-outs.
Many public employees use both. Compare Roth IRA limits with our Roth IRA calculator, then model your 457(b) balance here.
Traditional vs Roth 457(b) — which should I use?
It depends on whether you prefer tax breaks now or later. Traditional deferrals are often pre-tax now and taxable in retirement; Roth deferrals are after-tax now and may be tax-free when qualified. This calculator uses the same growth math for either and does not model tax brackets.
See Investor.gov — save for retirement for educational basics.
What is the average 457(b) balance by age?
Published averages vary widely by employer, tenure, and deferral rate—there is no single official number that fits every public employee. Benchmarks from surveys can lag by years and mix governmental and non-governmental plans.
For a personal estimate, use this page: set your age, salary, and deferrals to see a projected balance and yearly chart. Treat industry averages as context only, not a target.
Is a 457(b) a good retirement plan?
For many state and local workers, a governmental 457(b) is a strong way to save: high deferral limits, payroll convenience, and tax-deferred or Roth growth. Quality still depends on fees, investment menu, and how consistently you defer.
It complements—not replaces—emergency savings, pensions, and Social Security. Use this calculator to stress-test your deferral rate; read Investor.gov for general retirement basics.
How much do I need in a 457(b) to get $2,000 a month in retirement?
Using the educational 4% rule, $2,000/month (about $24,000/year) might call for roughly $600,000 saved, excluding Social Security and pensions—not a guarantee.
Enter your deferrals above to see whether your projected balance approaches that target.
How does this 457(b) calculator work?
This 457b calculator runs a monthly simulation: salary (with annual growth), your deferral (capped by 2026 IRS limits when catch-up is on), optional employer match, then net return after plan fees. You get balance at retirement, deferral vs. match vs. growth totals, a chart, and a yearly table.
It is not one compound-interest formula—the section How this 457(b) growth calculator works above walks through the same steps in more detail.
Can I download my 457(b) projection?
Yes. Use Export CSV or Export PDF on the results panel to save inputs, assumptions, and the yearly breakdown for your records.
Exports include an educational disclaimer—results are estimates, not tax or investment advice.
Are these 457(b) calculator results guaranteed?
No. Investment returns, fees, job changes, plan rules, and taxes can differ from what you enter. Results are educational estimates for planning—not a promise of future performance, tax outcomes, or account balances.
For decisions about contributions, investments, or withdrawals, use your plan administrator, HR benefits office, or a qualified tax or financial professional.