457 Savings Calculator
A 457 plan can be one of your best tools for creating a secure retirement. Use this calculator to see why this is a retirement savings plan you cannot afford to pass up.
How the 457 savings calculator works
It grows your current 457(b) balance plus salary-based contributions at your expected return each year while your salary rises, separating how much of the final balance comes from contributions versus investment growth.
Worked example: with current 457(b) balance of $18,000, annual salary of $65,000 and your contribution of 10.00%, the 457(b) savings calculator shows 457(b) at retirement of $624,441.
- Your contributions
- $208,197
- Investment growth
- $398,244
- Projected balance
- $624,441
- Starting balance
- $18,000
The formula
Each year: balance = (balance + salary × contribution%) × (1 + return); salary grows by your raise rate annually.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the 457 savings calculator
What is a 457(b) plan?
A tax-advantaged deferred-compensation plan for government and some nonprofit employees. Contributions and growth are tax-deferred, much like a 401(k).
What makes a 457(b) special?
Withdrawals after you leave your employer are generally exempt from the 10% early-withdrawal penalty that applies to 401(k)s and IRAs — useful for early retirees.
Can I have a 457(b) and a 401(k)?
Often yes, and the 457(b) limit is generally separate, letting eligible employees defer more for retirement across both plans.
Is the 457 Savings Calculator free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.