Retirement Contribution Effects on Your PaycheckAn employer-sponsored retirement savings account could be one of your best tools for creating a secure retirement. It provides two important advantages. First, all contributions and earnings are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your account, which can range from 0% to 100% of your contributions. Use this calculator to see how increasing your contributions to a 401(k), 403(b) or 457 plan can affect your paycheck as well as your retirement savings. This calculator uses the latest withholding schedules, rules and rates (IRS Publication 15).
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www.dinkytown.net Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Andy joined SYM Financial in January of 2014. Most recently, he lectured courses in investments and portfolio management at Loyola University Chicago's Quinlan School of Business, the 17th-ranked undergraduate finance program in the country.