Determining the optimal contribution to your 403b plan is crucial for securing a comfortable retirement. Use this calculator to figure out how much you should be contributing based on your salary, pay frequency, and desired contribution percentage.
Contribution Calculation Formula
The following formula is used to calculate your 403b contribution amount:
Contribution Amount = Gross Pay * (Contribution Percentage / 100)
Variables:
- Contribution Amount is the amount you contribute to your 403b plan ($)
- Gross Pay is your salary before deductions ($)
- Contribution Percentage is the percentage of your salary you wish