403(b) Calculator
Growth Projection
403(b) vs 401(k) Comparison
Formula
FV = Σ (Balance + Annual Contribution + Employer Contribution) × (1 + return) per year
Frequently Asked Questions
What is a 403(b) plan?
A 403(b) plan is a tax-advantaged retirement plan for employees of public schools, tax-exempt organizations, and certain ministers. It works similarly to a 401(k) but is specifically for nonprofit and education sectors.
What is the 15-year rule for 403(b)?
Employees with 15+ years of service at the same organization may contribute an extra $3,000 per year above the standard limit, up to a lifetime maximum of $15,000. This is unique to 403(b) plans.
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