403(b) Growth Calculator

Most hospitals, academic medical centers and nonprofit health systems offer a 403(b) — the nonprofit version of a 401(k). For many nurses, pharmacists, therapists and employed physicians, it's the backbone of retirement savings. This calculator shows what your 403(b) could grow to and how much of that comes from you, your employer and investment growth.

What this calculator does

Enter your salary, the percentage you contribute, your employer's match formula, your current balance, years until retirement, an expected return and your annual raise. It reports:

• your projected balance at retirement,
• your total contributions and your employer's,
• how much came from investment growth, and
• your contribution this year after the IRS limit.

The chart shows your balance growing year by year.

The formula in plain English

Each year:

1. Your contribution = salary × your percentage, capped at the IRS deferral limit ($24,500 in 2026). The calculator raises the limit along with your raises in later years, since the IRS adjusts it for inflation.
2. Employer contribution = salary × the smaller of (your percentage, the match cap) × the match rate. For example, a "50% match on the first 6%" means if you put in 6% or more, your employer adds 3%.
3. Growth. Last year's balance grows by your expected return. New contributions arrive through the year, so they earn about half a year of growth.
4. Raise. Your salary goes up by the raise percentage.

A worked example

Taylor is a respiratory therapist earning $90,000. She contributes 8%, her hospital matches 50% of the first 6%, and she has $15,000 saved. She plans to work 30 more years, expects a 7% return and 3% raises.

• This year she contributes $7,200 and her employer adds $2,700.
• Over 30 years she contributes about $342,500 and her employer about $128,500.
• Her projected balance is about $1.44 million — roughly two-thirds of it from investment growth.

If she contributed only 6%, she'd still get the full match, but her balance would be noticeably lower. If she contributed 4%, she'd also leave part of the match on the table.

Why it matters at each career stage

If you're: Resident / fellow

Contribute at least enough to get any match. If your program offers a Roth 403(b), it's a strong choice while your income is low. Even 3% to 5% in training builds the habit.

If you're: Employed

Aim to max out your 403(b) once your income allows. If your employer offers a 457(b) as well, you can save up to $24,500 more. Increase your contribution by 1% every time you get a raise — you'll barely notice.

If you're: Practice owner

As an owner, you'll likely use a 401(k) instead. The same math applies, and you also decide the match for your staff.

Making the most of your 403(b)

Check the fees. Some 403(b) plans still offer high-cost annuity products. Look for low-cost index funds or target-date funds in your plan's menu.

Know your vesting schedule. Employer contributions may vest over several years. Leaving before you're vested can cost you part of the match.

Use catch-up contributions. At 50 and up — and especially from 60 to 63 — the higher limits help late starters close the gap.

Roll old plans together. Keeping old 403(b)s in one place makes them easier to manage and can help with a clean backdoor Roth.

Next, see how your workplace plan pairs with a backdoor Roth, set a target with the FI number calculator, and check your paycheck with the take-home pay calculator.