Calculator Inputs
Example Data Table
| Current Age | Salary | Bonus | Deferral % | Catch-Up | Elective Limit | Match Rule | Expected Return |
|---|---|---|---|---|---|---|---|
| 52 | $120,000 | $5,000 | 15% | $7,500 | $23,500 | 50% up to 6% of pay | 7% |
| 58 | $150,000 | $10,000 | 12% | $8,000 | $23,500 | 100% up to 4% of pay | 6.5% |
Use the example rows to test how regular deferrals, catch-up dollars, and employer match can change annual savings and long-term balances.
Formula Used
1) Annual compensation
Annual Compensation = Annual Salary + Annual Bonus
2) Regular deferral target
Regular Deferral Target = Annual Compensation × Regular Deferral Rate
3) Regular deferral allowed
Regular Deferral Allowed = minimum(Regular Deferral Target, Elective Deferral Limit)
4) Catch-up contribution allowed
Catch-Up Allowed = minimum(Planned Catch-Up, Catch-Up Limit), only when age is 50 or older in the modeled year
5) Employer match
Matchable Dollars = minimum(Employee Dollars Eligible for Match, Annual Compensation × Matchable Pay Limit)
Employer Match = Matchable Dollars × Employer Match Rate
6) Per-pay deductions
Per-Pay Amount = Annual Amount ÷ Pay Periods
7) Retirement projection
The calculator compounds the account each pay period using the chosen annual return, then adds the pay-period contribution amount. Salary, contribution limits, and planned catch-up can grow each year using the entered growth assumptions.
How to Use This Calculator
- Enter your current age and the age when you want to retire.
- Provide annual salary, any bonus, and the pay periods in your payroll cycle.
- Set your regular deferral percentage and planned catch-up amount.
- Enter the elective deferral limit and catch-up limit for the plan year you want to model.
- Add employer match details, including the match rate and pay percentage that can be matched.
- Enter your current 401(k) balance, expected investment return, and future salary growth rate.
- Choose whether catch-up contributions should be counted in employer match estimates.
- Press the calculate button to view the summary, chart, and year-by-year projection above the form.
- Use the CSV and PDF buttons to export the output for review or planning discussions.
FAQs
1) What is a 401(k) catch-up contribution?
A catch-up contribution is an additional employee deferral allowed after reaching the eligible age. It is added on top of the standard elective deferral limit and can raise annual retirement savings.
2) Who can use this calculator?
Anyone comparing deferral choices, paycheck impact, and long-term account growth can use it. It is especially useful for workers nearing retirement and reviewing whether extra contributions fit their budget.
3) Does employer match always apply to catch-up dollars?
Not always. Some plans match catch-up contributions, while others only match regular deferrals. This calculator includes a checkbox so you can model either approach without changing the rest of your assumptions.
4) Why does the calculator ask for elective and catch-up limits?
Plan-year limits can change. Keeping them editable makes the tool flexible for different years, planning scenarios, and employer communications instead of locking the page to one fixed number.
5) What does the projected gain from catch-up mean?
It shows the difference between the estimated future balance with catch-up contributions and the balance without them. That difference includes both the extra dollars saved and the growth earned over time.
6) Why can my regular deferral be lower than my target?
If your chosen deferral percentage would exceed the annual elective deferral limit, the calculator caps regular deferrals at that limit. Catch-up contributions can then add more, subject to catch-up eligibility and the catch-up cap.
7) Are the retirement projections guaranteed?
No. They are planning estimates based on assumed returns, salary growth, and contribution behavior. Real investment performance, plan rules, and future limit changes can produce higher or lower outcomes.
8) Can I use this for paycheck planning?
Yes. The tool converts annual employee and employer amounts into per-pay values using your pay-period count. That makes it easier to judge cash-flow effects before changing payroll elections.