403(b) Calculator

Use this calculator to project a 403(b) retirement balance for school, non-profit, or government employment.

What this calculator does

The 403(b) calculator estimates how employee and employer contributions may grow by retirement age. It works like a workplace retirement projection for eligible public and non-profit workers.

It uses:

• current age and retirement age
• current 403(b) balance
• salary and contribution rates
• expected annual return

403(b) Formula

FV = P(1 + r)^n + PMT × (((1 + r)^n - 1) / r)

Where:

• P = current 403(b) balance
• PMT = annual contributions
• r = expected return
• n = years until retirement

Example calculation

If:

• Current balance = 50,000
• Salary = 80,000
• Employee contribution = 10%
• Employer contribution = 3%

Then:

• Employee contribution = 8,000
• Employer contribution = 2,400
• Annual additions = 10,400
• The balance compounds until retirement

The 403(b) grows through contributions and investment return.

What is a 403(b)?

A 403(b) is a workplace retirement plan commonly offered by schools, non-profits, and certain government organizations. It is similar to a 401(k) in many ways.

Why 403(b) planning matters

• estimates future workplace retirement savings
• values employer contributions
• helps set salary deferrals
• supports retirement readiness reviews

When to use this calculator

• projecting 403(b) balance
• choosing contribution rates
• reviewing employer contributions
• comparing retirement ages

Common mistakes

• missing available employer contributions
• ignoring fees and investment choices
• assuming salary stays fixed
• overlooking contribution limits

403(b) vs 401(k)

A 403(b) is typically offered by schools and non-profits. A 401(k) is usually offered by private-sector employers.

Both are workplace retirement plans with similar saving goals.

FAQs

What is a 403(b)?

A 403(b) is a workplace retirement account for eligible school, non-profit, and government employees.

How do you calculate 403(b) growth?

Project current balance plus employee and employer contributions using compound growth.

What is a good 403(b) contribution?

A good contribution captures employer benefits and supports your retirement income target.

What is the difference between 403(b) and 401(k)?

The employer type differs, but both are workplace retirement plans.