457(b) Calculator
Estimate your governmental 457(b) balance at retirement, with the 2026 limits.
What a 457(b) is
A governmental 457(b) is a deferred compensation plan for employees of state and local governments, such as teachers, firefighters, police and city workers. You choose how much of your pay to contribute, and the money grows until you retire. Contributions can be pre-tax or Roth. A 457(b) also exists for some nonprofits (“non-governmental”), which has different rules and risks.
Why a 457(b) is different
- Its own limit: the 457(b) limit is separate from the 401(k) and 403(b) limit, so if your employer offers both, you can save up to $24,500 in each in 2026.
- No 10% early withdrawal penalty on a governmental 457(b) once you leave your employer, though the withdrawals are taxed as income.
- Special catch-up: in the three years before your plan’s normal retirement age, you may be able to contribute up to twice the annual limit to catch up on missed contributions. This cannot be combined with the age-50 catch-up.
| Type | Limit |
|---|---|
| Employee contributions | $24,500 |
| Catch-up, age 50 and over | $8,000 extra |
| Catch-up, ages 60 to 63 | $11,250 extra (instead of the $8,000) |
| Special 3-year catch-up | Up to twice the limit, if you qualify |
Worked example
A 35-year-old earning $70,000 contributes 8% ($5,600) a year, with $30,000 already saved, 3% yearly raises and a 6% return. With no employer contribution, the balance at 65 is about $791,334, or about $377,263 in today’s dollars. If your employer adds money, increase your contribution by that amount or use the 403(b) calculator, which has a match field.
This calculator caps your contribution at the limit you select and assumes steady returns, which real markets do not provide. It is an estimate for planning, not financial or tax advice.
Frequently asked questions
What is a 457(b) plan?
A deferred compensation retirement plan for state and local government employees and some nonprofit workers.
What is the 457(b) limit for 2026?
$24,500, plus an $8,000 catch-up at 50 or over, or $11,250 at ages 60 to 63. It is separate from the 401(k) and 403(b) limit.
Is there a penalty for early withdrawal from a 457(b)?
A governmental 457(b) has no 10% early withdrawal penalty once you leave your employer, but withdrawals are still taxed as income.
Can I contribute to a 457(b) and a 403(b) in the same year?
Yes. The two limits are separate, so you can contribute the maximum to each.
What is the special 457(b) catch-up?
In the three years before your normal retirement age, you can contribute up to twice the annual limit to make up for earlier years you did not contribute the maximum.
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