457(b) Calculator

Government workers and some non-profit employees rely on the 457(b) as a deferred compensation plan, and this tool projects how that account might grow. The 2026 contribution limit for most participants is $24,500, with an added catch-up of $8,000 for those 50 and over, bringing their ceiling to $32,500, and knowing those figures helps you set a realistic savings pace.

Your yearly deferral is your salary times your contribution percentage, capped at the $24,500 limit; the calculator does not add the age-50 catch-up. Each year's deferral is added to the balance at the start of the year, and the total then grows by your expected return, so the account compounds once a year: new balance = (previous balance + deferral) × (1 + return), repeated for every year until retirement.

One trait sets the 457(b) apart: its lack of an early-withdrawal penalty on money taken out after you separate from service, whatever your age, which gives it unusual flexibility. Those withdrawals still count as ordinary income for tax purposes. Investment fees deserve close watch too, since they can quietly drag down long-term growth, and your own risk tolerance should guide which options you pick inside the plan.