Free 457(b) plan calculator for 2026. Project deferred compensation growth with no early withdrawal penalty. Includes the special 3-year catch-up provision for government employees.
The 457 Plan Calculator projects the growth of your governmental 457(b) deferred compensation plan — a retirement vehicle for state and local government employees that is especially useful for early-retirement planning because qualifying distributions after separation from service are not subject to the usual 10% early-withdrawal penalty.
For 2026, the standard elective-deferral limit is $24,500. Governmental 457(b) plans may also allow an $8,000 age-50 catch-up, a higher $11,250 ages-60-63 catch-up, or a special catch-up in the last 3 years before normal retirement age that can reach the lesser of twice the basic limit or the basic limit plus unused prior-year deferrals.
This calculator models the balance effect of those contribution choices over time. It is a planning worksheet rather than a plan-administration tool, so it should be used to compare scenarios before you confirm actual special-catch-up eligibility with your plan administrator.
A governmental 457(b) is unusually useful for early-retirement planning because access after separation from service is more flexible than with many other salary-deferral plans. This page helps you compare standard savings, age-based catch-ups, and the simplified special catch-up path on one timeline.
FV = Σ [(Balance + Contribution) × (1 + r)] each year Standard Limit: $24,500 (2026) Special 3-Year Catch-Up: lesser of twice the basic limit or the basic limit plus unused prior-year deferrals Age 50+ Catch-Up: $8,000 in 2026, or $11,250 for ages 60-63 if permitted; you generally use the greater catch-up rather than stacking them
Result: Projected balance: ~$1,384,000
Starting with $80,000 and contributing the 2026 basic limit of $24,500 at 7% for 20 years produces about $1.38 million before any special catch-up amounts. Higher catch-up contributions late in the career can lift that projection further, depending on plan eligibility and unused prior-year deferral room.
Unlike many other salary-deferral plans, the governmental 457(b) allows penalty-free access after separation from service regardless of age. That makes it especially relevant for workers planning retirement before the traditional age-59½ threshold.
Many government employers offer both a 457(b) and a 401(k) or 403(b). Because the 457 has its own elective-deferral limit, the combined savings capacity can be materially higher when cash flow allows it.
The special catch-up depends on your plan normal retirement age and unused prior-year deferral room. This page simplifies that rule for planning, so treat the result as a worksheet rather than an administrator-certified maximum.
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This worksheet compounds the current balance forward year by year after adding the modeled annual employee contribution. It applies the 2026 basic elective-deferral limit and the age-based catch-up limits shown on the page. When the special 3-year catch-up is enabled, the worksheet simplifies that rule by assuming the doubled basic-limit path is available inside the 3-year window before normal retirement age.
That simplification matters because the real IRS rule also depends on unused prior-year deferral room and plan-specific normal retirement age. Use the page to compare scenarios, but confirm special-catch-up eligibility and plan terms with your administrator before relying on the higher contribution amount.
A 457(b) is a deferred-compensation retirement plan available to state and local government employees and some nonprofit organizations. For 2026, governmental plans allow elective deferrals up to $24,500 before catch-ups. A key advantage is that qualifying distributions after separation from service are not subject to the usual 10% early-withdrawal penalty.
In the 3 years before your plan normal retirement age, you may be able to contribute the lesser of twice the basic annual limit or the basic annual limit plus unused prior-year deferral room. In 2026, twice the basic limit is $49,000. You generally use the greater of the special catch-up or the age-based catch-up, rather than stacking them in the same year.
Yes. A governmental 457(b) has its own separate elective-deferral limit. If your employer offers both a 457 and a 401(k) or 403(b), you can generally defer up to each plan limit in the same year, subject to plan terms and compensation.
For governmental 457(b) plans, qualifying distributions after separation from service are not subject to the usual 10% early-withdrawal penalty that often applies to early 401(k) or IRA distributions. Ordinary income tax can still apply to pre-tax withdrawals.
If you expect to retire before age 59½, the 457 often deserves extra attention because of the access rules after separation from service. If a 401(k) has an employer match, capturing that match still usually comes first.
Many governmental 457(b) plans now offer Roth contribution options. Whether Roth or pre-tax is better depends on your expected tax bracket now versus in retirement and your plan for early access.