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403(b) Calculator

Project your 403(b) balance at retirement, including any employer match - for teachers, nonprofit and public-sector employees.

Result

Projected Balance
$496,043.02
Monthly Employer Match
$108.33
Total Contributions
$172,500.00
Total Growth
$323,543.02
BalanceContributions
$800K$600K$400K$200K$0Balance - Yr 1: $17KBalance - Yr 2: $25KBalance - Yr 3: $34KBalance - Yr 4: $43KBalance - Yr 5: $53KBalance - Yr 6: $63KBalance - Yr 7: $75KBalance - Yr 8: $87KBalance - Yr 9: $100KBalance - Yr 10: $114KBalance - Yr 11: $129KBalance - Yr 12: $145KBalance - Yr 13: $162KBalance - Yr 14: $180KBalance - Yr 15: $200KBalance - Yr 16: $221KBalance - Yr 17: $244KBalance - Yr 18: $268KBalance - Yr 19: $295KBalance - Yr 20: $323KBalance - Yr 21: $353KBalance - Yr 22: $385KBalance - Yr 23: $419KBalance - Yr 24: $456KBalance - Yr 25: $496KContributions - Yr 1: $16KContributions - Yr 2: $23KContributions - Yr 3: $30KContributions - Yr 4: $36KContributions - Yr 5: $42KContributions - Yr 6: $49KContributions - Yr 7: $55KContributions - Yr 8: $62KContributions - Yr 9: $68KContributions - Yr 10: $75KContributions - Yr 11: $82KContributions - Yr 12: $88KContributions - Yr 13: $95KContributions - Yr 14: $101KContributions - Yr 15: $108KContributions - Yr 16: $114KContributions - Yr 17: $121KContributions - Yr 18: $127KContributions - Yr 19: $134KContributions - Yr 20: $140KContributions - Yr 21: $147KContributions - Yr 22: $153KContributions - Yr 23: $159KContributions - Yr 24: $166KContributions - Yr 25: $172KYr 1Yr 5Yr 9Yr 13Yr 17Yr 21Yr 25

About the 403(b) Calculator

Teachers, nurses, and nonprofit employees don't get a 401(k) - they get a 403(b), a nearly identical tax-advantaged retirement account built specifically for public schools, hospitals, and other tax-exempt organizations. Our 403(b) Calculator projects your account balance at retirement based on your salary, contribution rate, employer match, and years left to grow.

How It Works

The calculator converts your contribution percentage and your employer's match percentage into monthly dollar amounts based on your salary, then runs the combined monthly contribution through the same future value formula used for any regular investment account, compounding your current balance and every future contribution at your expected rate of return.

Employer match % = min(your contribution %, match cap %) FV = P(1 + r)^n + PMT x [((1 + r)^n - 1) / r]

Formula & Methodology

Most 403(b) matches are capped, meaning the employer only matches up to a stated percentage of your salary even if you contribute more. The calculator models this exactly: it takes the smaller of your contribution percentage and the match cap percentage, so if you contribute 8% and your employer matches up to 2%, you only receive a 2% match, not 8%. That matched percentage, converted to a monthly dollar figure, is added to your own monthly contribution and the combined amount compounds alongside your existing balance using the standard future value formula, where the first term grows your current balance on its own and the second term grows the stream of monthly contributions.

Step-by-Step: Calculating It By Hand

  1. 1Multiply your annual salary by your contribution percentage, then divide by 12 to find your own monthly contribution.
  2. 2Take the smaller of your contribution percentage and your employer's match cap percentage - that's the percentage they actually match.
  3. 3Multiply salary by that matched percentage and divide by 12 to find the monthly employer match.
  4. 4Add your monthly contribution and the monthly match together for the total monthly deposit.
  5. 5Apply the future value formula to your current balance and that combined monthly deposit, compounding at your expected annual return over your years to retirement.

Examples

Full match captured

A $65,000 salary with an 8% contribution and a 2% employer match cap adds both to a $10,000 starting balance, growing at 7% over 25 years to a substantial projected balance, with the employer match alone contributing real money every month.

Under-contributing

Dropping the contribution to 1% while the match cap stays at 2% still only draws a 1% match, since the match can never exceed what you personally put in, illustrating why contributing below the cap wastes free employer money.

Advantages

  • Models the employer match cap correctly instead of assuming a flat match on any contribution level
  • Shows the long-term compounding effect of even a modest 403(b) contribution
  • Useful for teachers and nonprofit employees whose plan options differ from typical 401(k) guidance
  • Lets you test different contribution and match scenarios instantly

Common Mistakes

  • Contributing below the employer match cap and leaving free matching money unclaimed
  • Assuming a 403(b) automatically has the same low fees as a typical 401(k), when some plans carry higher annuity-based costs
  • Not checking whether the plan offers a 15-years-of-service catch-up contribution on top of the standard limit
  • Treating the projected balance as guaranteed rather than an estimate based on an assumed constant rate of return

Edge Cases to Watch For

  • Contributing less than the match cap means you leave part of the match on the table - the calculator only matches what you actually contribute, up to the cap.
  • 403(b) plans share the same annual IRS contribution limits as 401(k) plans, and many also allow a special 15-years-of-service catch-up in addition to the standard age-50 catch-up.
  • Some 403(b) plans charge higher administrative fees or offer a narrower fund lineup (often annuity-based) than a typical 401(k), which can quietly reduce real-world returns below the projection here.
  • This projection assumes a constant contribution rate and rate of return for the entire period, which real salaries and markets rarely deliver exactly.

Common Use Cases

  • Projecting retirement savings as a teacher, nurse, or nonprofit employee
  • Deciding how much to contribute to fully capture the employer match
  • Comparing how raising your contribution rate changes your balance at retirement
  • Planning alongside a pension or other public-sector retirement benefit
Written & fact-checked by the Calculateus TeamLast updated August 5, 2026How we verify our formulas

Frequently asked questions

How is a 403(b) different from a 401(k)?

They work almost identically - both are tax-advantaged retirement accounts with the same contribution limits - but 403(b) plans are offered by public schools, hospitals, and nonprofits, while 401(k) plans are offered by for-profit employers. Some 403(b) plans have fewer investment options than typical 401(k)s.

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Conclusion

A 403(b) works like any other tax-advantaged retirement account once you understand how the match cap limits what your employer adds. Contributing at least enough to capture the full match is usually the first move worth making before optimizing anything else in your retirement plan.

References