OneTaskBy Tim King · Updated
401k Calculator
How Much a 401(k) Grows With Salary Rises and Employer Match
OneTask is free, with no sign-up, and built by one person.
If this tool saved you time, a coffee helps keep new ones coming.
How the 401(k) Calculator works
This 401k calculator projects what your plan could hold when you retire. Enter your age, balance, salary, how much you contribute and your employer's match formula, and it shows the balance at retirement, how much came from you, from your employer and from growth, and any match you are leaving unclaimed.
401k calculator formula
Each year the employer adds its match percent of your contribution, up to the cap percent of salary. The 401k calculator uses:
Employer match = match % × min(your %, cap %) × salary
Balance next year = balance × (1 + return) + your contribution + employer match
Salary rises by the growth rate each year. The calculator does not apply any yearly contribution limit, so check that your contribution stays within the current IRS limit.
Worked example: 50% match up to 6%
At 30 with 20,000 saved and a 60,000 salary growing 2% a year, contribute 6% with a 50% match up to 6% and earn 6%. By 65 the balance is 921,358.36. You put in 179,980.12 and your employer 89,990.06; your first-year contribution is 5,400.
Worked example: missing part of the match
With a 100% match up to 5% but contributing only 3%, the balance at 65 is 665,479.49, and 59,993.37 of employer money goes unclaimed. The table shows how many dollars a year each common match formula is worth at each salary.
401k reference table
The yearly employer match at the full contribution for salaries from 30,000 to 150,000, under three common match formulas.
| Salary | 50% up to 6% | 100% up to 4% | 100% up to 6% |
|---|---|---|---|
| 30,000.00 | 900.00 | 1,200.00 | 1,800.00 |
| 35,000.00 | 1,050.00 | 1,400.00 | 2,100.00 |
| 40,000.00 | 1,200.00 | 1,600.00 | 2,400.00 |
| 45,000.00 | 1,350.00 | 1,800.00 | 2,700.00 |
| 50,000.00 | 1,500.00 | 2,000.00 | 3,000.00 |
| 55,000.00 | 1,650.00 | 2,200.00 | 3,300.00 |
| 60,000.00 | 1,800.00 | 2,400.00 | 3,600.00 |
| 65,000.00 | 1,950.00 | 2,600.00 | 3,900.00 |
| 70,000.00 | 2,100.00 | 2,800.00 | 4,200.00 |
| 75,000.00 | 2,250.00 | 3,000.00 | 4,500.00 |
| 80,000.00 | 2,400.00 | 3,200.00 | 4,800.00 |
| 85,000.00 | 2,550.00 | 3,400.00 | 5,100.00 |
| 90,000.00 | 2,700.00 | 3,600.00 | 5,400.00 |
| 95,000.00 | 2,850.00 | 3,800.00 | 5,700.00 |
| 100,000.00 | 3,000.00 | 4,000.00 | 6,000.00 |
| 105,000.00 | 3,150.00 | 4,200.00 | 6,300.00 |
| 110,000.00 | 3,300.00 | 4,400.00 | 6,600.00 |
| 115,000.00 | 3,450.00 | 4,600.00 | 6,900.00 |
| 120,000.00 | 3,600.00 | 4,800.00 | 7,200.00 |
| 125,000.00 | 3,750.00 | 5,000.00 | 7,500.00 |
| 130,000.00 | 3,900.00 | 5,200.00 | 7,800.00 |
| 135,000.00 | 4,050.00 | 5,400.00 | 8,100.00 |
| 140,000.00 | 4,200.00 | 5,600.00 | 8,400.00 |
| 145,000.00 | 4,350.00 | 5,800.00 | 8,700.00 |
| 150,000.00 | 4,500.00 | 6,000.00 | 9,000.00 |
Quick answers
- A 50% match up to 6% is worth 3% of salary if you contribute 6%.
- A 100% match up to 4% is worth 4% of salary if you contribute 4%.
- Contributing below the cap leaves free employer money unclaimed.
- Vesting rules can delay when employer money is fully yours.
- Results are before tax on withdrawals.
FAQ
How do I read my plan's match formula?
A formula like "50% up to 6%" means the employer adds 50 cents for each dollar you contribute, on contributions up to 6% of salary. Enter 50 as the match and 6 as the cap. Some plans have tiers; use the combined effective rate.
Does this apply the contribution limit?
No. Contribution limits change and are set each year, so the calculator does not build one in. If your contribution plus match would exceed the current limit for your age, lower your contribution percentage to stay within it.
What return should I assume?
It depends on your fund choices. Stock-heavy target-date funds have historically returned more than bond funds but with larger swings. Many people plan with 5% to 7% before inflation and test a lower figure too.
Does this work for a 403(b) or other plans?
Yes. Any workplace plan with a percentage contribution and a percentage match, such as a 403(b), 457 or a UK workplace pension with matching, uses the same arithmetic. Enter the plan's own figures.
See also: all Saving tools, Pay, Bills, Property, Debt, Investing.
Related tools
Superannuation Calculator
Super balance at retirement from rates and fees you enter.
FIRE Calculator
Your FIRE number and how many years until you reach it.
Investment Calculator
Investment growth from a lump sum plus monthly contributions.
Retirement Date Calculator
Your retirement date and the years, months and days left.
Salary Increase Calculator
A pay rise as a percentage, per pay period and after inflation.