Where can you find 403(b) contribution limit calculators online?


Quick Answer

Users find 403(b) retirement contribution limit calculators from a few financial websites such as Fidelity.com and Omni403b.com. Individuals can calculate their retirement savings through Bankrate. These specialized retirement accounts are available only to employees of 501c(3) nonprofit organizations.

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Full Answer

Employees click on Go to the Calculator from the Fidelity Investments website to find the 403(b) calculator limit. The calculator helps people determine their maximum selective deferral amount for this type of retirement plan. Employees check a box if an employer contributes to the plan, if mandatory contributions were made, if salary was deferred to other retirement plans, or if a person has 50 percent or more controlling interest in a company that contributes to the plan. Users check boxes for making additional contributions above the limit, having more than 15 years of service at the organization and being older than 50.

Users then input compensation from the employer who sponsors the plan and click Next on Fidelity.com. The calculator determines a salary deferral limit based on someone's data.

People type in a year of birth, number of years in service to a current employer, total past contributions made with a current employer and the past amount of catch-up contributions on Omni403b.com. Users next click Calculate to determine the contribution limit for one year.

The annual contribution limit for people under the age of 50 is $18,000, according to the Internal Revenue Service. Those older than 50 may contribute $24,000 to a plan voluntarily every year.

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