Tell Us About You
Your employer�s plan may permit you to contribute an additional:
- $5,500 if you are age 50 or older by year-end, and/or
- $3,000, up to a total of $15,000, if you have at least 15 years of service with your employer and have contributed on average less than $5,000 a year.
Your age can play a role in determining the total amount you are eligible to contribute for the current year. If you are 50 years of age or more at anytime in the current tax year, then you could be eligible to contribute an additional $5,000 to your plan.
The number of years you've been employed by your current employer can impact the total amount you are eligible to contribute for the current year. If you have worked for your current employer for 15 or more years and your plan allows, you may be eligible to contribute up to $3,000 more to your retirement plan.
If you own more than 50% in a outside business, any employer contributions made on your behalf to the Workplace Savings Plan of this business must be included in determining your maximum contribution for the current year.
If you contribute to another 403(b) plan then those contributions must be included in the total amount you are eligible to contribute for the current year.
Tell Us About Your Salary
Your total contributions for any year can't be more than your compensation for that year. And if your employer makes contributes on your behalf, the combined total for the year (not counting age 50+ "catch-up" contributions) can't exceed $49,000 or your includable compensation during your last 12 months of service, whichever is less.
Your total contributions for any year ca not be more than your includable compensation for the last 12 months. If your employer makes contributions on your behalf, the combined total for the year (not counting age 50+ "catch-up" contributions) can not exceed $49,000.
The frequency in which you receive compensation will determine how much you are eligible to contribute from each paycheck.
Tax Bracket
| Single | Married Filling Jointly | |||||
| Taxable Income: | Taxable Income: | Tax Bracket | ||||
| $2,100 | - | $10,600 | $7,900 | - | $24,900 | 10% |
| $10,600 | - | $36,600 | $24,900 | - | $76,900 | 15% |
| $36,600 | - | $85,700 | $76,900 | - | $147,250 | 25% |
| $85,700 | - | $176,500 | $147,250 | - | $220,200 | 28% |
| $176,500 | - | $381,250 | $220,200 | - | $387,050 | 33% |
| $381,250 | - | $387,050 | - | 35% | ||
Pre-tax contributions can be a useful way to save money without putting a large dent in your take-home pay. For example, if you're in the 25% tax bracket and want to limit the reduction in your take-home pay to $200, you could actually save $266.66 in pre-tax dollars per paycheck.
If you contribute to your 403(b) plan using pre-tax dollars, the tax bracket you're in will help us determine how the amount you contribute will effect your take home pay.
Tell Us About Your Employer Contributions
If your employer offers a matching contribution, make an effort to contribute up to the limit your employer will match. Employer contributions are free money once you're vested in them. By taking advantage of this offer, you'll be surprised how much faster your account balance grows!
Some 403(b) plans have a Roth contribution feature, which lets you use after-tax dollars to contribute to the plan. A Roth Contribution allows you to avoid having to pay taxes when you take a withdrawal at a qualified age.
Employer contributions are the matching portion of the pre-tax payroll deductions that an employee makes into his or her retirement plan. This amount can be a set percentage or dollar matching contribution.
Mandatory contributions are any amount that your employer requires you to contribute to your retirement plan.
An after tax contribution is a voluntary elective deferral that allows you to make these same investment options as a pre-tax deferral. You can take withdrawals of after tax money at any time.
Tell Us About Your Personal Contributions
Not only will your contributions to your retirement plan earn interest over time, but that interest will eventually earn interest as well. This is what they refer to as compounding interest and it is what makes your retirement plan grow over the course of your lifetime. The more you contribute now, the more opportunity you will have to grow your retirement savings.
By telling us how much you have already contributed to your plan, we can determine how much more you can contribute for the remainder of the year.
When you control more than half of a corporation, limited liability company, partnership, or proprietorship, any employer contributions will be included in determining your maximum 403(b) contribution limits.
The total amount you contribute to all of your of your other workplace savings plans will impact the maximum amount you can contribute to any/all other plans.
15 Year Catch-Up
If your employer's plan offers this feature, enter the total amount of 15-year catch-up contributions you've made prior to under this plan. see tips
Not eligible for catch-up: According to the data you have entered, you are not eligible to participate in the 15-year catch-up.
Remember that this catch-up counts contributions you�ve made in prior years. You must have contributed on average less than $5,000 in prior taxable years to be eligible for the catch-up now. And it cannot exceed $15,000 in total for all those prior years.
Your total prior contributions to your employer's plan can factor into your eligibility for the "15 year catch" up.
You may be able to contribute an additional $3,000 per year, up to a per-employer lifetime total of $15,000, if you have at least 15 years of service with your employer and have contributed on average less than $5,000 a year. Contact your plan administrator to find out if this feature is available under your employer's plan.
Age 50+ Catch-Up Contributions
Not eligible for catch-up: According to the data you have entered, you are not eligible to participate in the 50+ catch-up.
Contact your plan administrator to find out if this feature is available under your employer's plan. If yes, and if you are also eligible for the 15-year catch-up, you must use the 15-year catch-up first. This means you may have already reached the 15-year catch-up limit of $15,000 per employer.
Not all plans offer the 50+ catch-up contribution. Your TPA should be able help you determine if your plan does offer this option or not.
If your plan does offer this catch-up, you are only eligible to contribute and extra $5,500 to your plan for the current year. Any contributions made to another 50+ catch-up contribution will go against this limit
Your Results
| Basic salary deferral | |
| 403(b) 15-year catch-up | |
| Age 50+ catch-up | |
| Total salary deferral limit |
Based on your Salary Deferral Limit, you can contribute up to from your paycheck.
This equates to percent of your pay.
| Total annual contributions: | |
| Total contributions per paycheck: | |
| Paycheck deductions: |
