Calculate how your 457(b) deferred compensation plan will grow over time. Enter your contributions, employer match, investment return, and years until retirement to project your account balance and retirement income.
A 457(b) deferred compensation plan is the retirement plan most state and local government employees use (along with some 501(c) nonprofit workers). It works similarly to a 401(k) — pre-tax contributions, tax-deferred growth, taxed on withdrawal — but with two important advantages that make it particularly powerful for late-career savers and early retirees.
First, 457(b) plans uniquely have NO 10% early-withdrawal penalty. Withdrawals before age 59½ are fully accessible without the penalty that hits 401(k) and IRA early distributions. You only owe ordinary income tax. This makes a 457(b) the single most flexible retirement vehicle in the U.S. tax code for anyone who might retire before traditional retirement age — it bridges the gap to 59½ without requiring SEPP/72(t) structures or other workarounds.
Second, 457(b) plans offer a "special catch-up" provision in addition to the standard age-50 catch-up: in the three years before normal retirement age (as defined by the plan), participants can contribute up to double the standard limit ($47,000 for 2025) if they haven't maxed out in prior years. This can dramatically boost savings in the final years of a career.
This calculator projects your 457(b) balance using current balance, contributions, expected returns, and years to retirement. For dual-eligible employees (some workers can contribute to both a 457(b) AND a 401(k)/403(b)), the combination allows extraordinarily high tax-deferred saving — up to $47,000+ per year between the two plans for non-catch-up workers.
Age 32, $40,000 balance, contributing $12,000/year, no employer match, 7% return, retire at 62. Years to retirement: 30. Annual contribution: $12,000. FV = 40,000 × 1.07^30 + 12,000 × [(1.07^30 − 1)/0.07] ≈ 304,500 + 1,133,500 ≈ $1,438,000 Plus the pension benefit (separate). Typical state employee with 30 years of service and good 457(b) saving builds a multi-million-dollar combined retirement asset.
Age 60, $400,000 balance, normal retirement age 63 (3 years away). Historical contributions averaged $15,000/year; eligible for special catch-up because limits not historically maxed. Special catch-up allows up to $47,000/year for 3 years (2025 limit doubled). If contributing $47,000 each year for 3 years at 7% return, plus existing balance: Year 3 balance: 400,000 × 1.07^3 + 47,000 × [(1.07^3 − 1)/0.07] = 489,800 + 151,000 = $640,800 The 3-year catch-up window adds about $150,000+ vs. continuing at the lower historical rate. Particularly valuable for late-career savers who got serious about retirement only in their 50s.
Public university professor, age 45, eligible for both a 457(b) and a 403(b). Salary: $120,000. Contributing to both at the maximum. Annual contributions: 403(b): $23,500 457(b): $23,500 Total tax-deferred: $47,000 per year Over 20 years at 7% return, the combined balance reaches: FV (annual): $23,500 × 2 × [(1.07^20 − 1)/0.07] = $47,000 × 40.995 ≈ $1,927,000 The dual-eligibility doubles the tax-advantaged savings opportunity. With the age-50 catch-ups in both plans starting at age 50, the combined limit goes even higher.
Use this calculator if you're a state or local government employee, public school teacher, public hospital employee, or eligible nonprofit worker. The 457(b) is the standard retirement plan for these roles and is one of the more advantageous retirement vehicles in U.S. tax code due to the lack of early-withdrawal penalty.
For early retirees specifically, the 457(b) is uniquely powerful: you can retire at 50 (or 45, or 40) and immediately draw from your 457(b) balance without the 10% early-withdrawal penalty. The penalty avoidance can save 10% of every withdrawn dollar compared to early 401(k)/IRA withdrawals.
Pair this with the 401(k), 403(b), and IRA calculators (for dual-eligible workers and for comparing across plan types), the pension calculator (since most 457(b)-eligible workers also have a pension), the FIRE calculator (early retirement modeling — 457(b) is the gold-standard FIRE bridge vehicle), and the retirement-savings calculator (whole-portfolio view).
A critical distinction worth knowing: there are two types of 457(b) plans — "governmental" 457(b)s (state/local government employees) and "non-governmental" 457(b)s (some non-profit employees). Governmental 457(b)s are fully separate from the employer's assets (held in a trust for participant benefit) and can be rolled to IRAs after employment. Non-governmental 457(b)s are subject to the employer's general creditors and cannot be rolled to IRAs — distributions are typically taken from the plan itself. This is a meaningful difference for employees whose employer's solvency might be in question (some hospitals and nonprofits).
For dual-eligible workers (both 457(b) AND 401(k)/403(b)), maxing both plans is one of the highest-leverage moves in personal finance. The combined $47,000/year tax-deferred contribution opportunity, compounded over 30+ years, can build $4M+ in retirement assets — easily clearing most retirement income needs even before pension and Social Security.
Estimate your 401(k) balance at retirement with employer matching and investment growth.
Estimate your 403(b) retirement savings for nonprofit and education employees.
Project your retirement savings growth and see if you are on track.
Estimate how much monthly income your retirement savings can provide.
Find out if you are saving enough for retirement and calculate your savings gap.
Compare Social Security benefits by claiming age from 62 to 70.
Percentage of salary matched
Projected Balance
$2,010,061
Total Contributions
$450,000
Employer Match
$67,500
Monthly Retirement Income
$6,700
| Age | Contribution | Employer Match | Growth | Balance |
|---|---|---|---|---|
| 36 | $15,000.00 | $2,250.00 | $3,500.00 | $70,750.00 |
| 37 | $15,000.00 | $2,250.00 | $4,952.50 | $92,952.50 |
| 38 | $15,000.00 | $2,250.00 | $6,506.68 | $116,709.18 |
| 39 | $15,000.00 | $2,250.00 | $8,169.64 | $142,128.82 |
| 40 | $15,000.00 | $2,250.00 | $9,949.02 | $169,327.83 |
| 41 | $15,000.00 | $2,250.00 | $11,852.95 | $198,430.78 |
| 42 | $15,000.00 | $2,250.00 | $13,890.15 | $229,570.94 |
| 43 | $15,000.00 | $2,250.00 | $16,069.97 | $262,890.90 |
| 44 | $15,000.00 | $2,250.00 | $18,402.36 | $298,543.27 |
| 45 | $15,000.00 | $2,250.00 | $20,898.03 | $336,691.30 |
| 46 | $15,000.00 | $2,250.00 | $23,568.39 | $377,509.69 |
| 47 | $15,000.00 | $2,250.00 | $26,425.68 | $421,185.36 |