401(k) Contribution Calculator
See your per-paycheck 401(k) contribution, the employer match you earn, and the annual total, capped at the 2024 IRS deferral limit.
Independently verified for accuracy
Calculator by Toolsloft ↗- Your contribution per paycheck
- $307.69
- Your annual contribution
- $8,000.00
- Employer match per year
- $2,400.00
- Total annual contribution
- $10,400.00
This calculator turns a 401(k) contribution percentage into real dollars: what comes out of each paycheck, what your employer adds through its match, and the yearly total. Use it to set a contribution rate that captures the full match without exceeding the annual limit.
How this is calculated
Your contribution is the salary times your percentage, capped at the 2024 IRS elective deferral limit of $23,000 for those under 50. The employer match applies its match rate to the portion of your contribution within the match cap. This is an estimate, not tax advice; refresh the limit each year.
How to use
- Enter your annual salary and contribution percentage.
- Enter the employer match rate and the salary percentage it matches up to.
- Enter your number of pay periods, then read the per-paycheck and annual amounts.
Examples
- $80k, 10%, 50% match up to 6%:
$307.69/check, $2,400 match - $300k, 15% (hits limit):
capped at $23,000
FAQ
- What is the 2024 contribution limit?
- The 2024 elective deferral limit is $23,000 for employees under 50, with an extra $7,500 catch-up allowed at 50 and older. This tool caps the employee contribution at $23,000.
- How does the employer match work?
- A common match is 50% of your contributions up to 6% of salary. The match rate applies only to the portion of your contribution within that cap, so contributing above the cap earns no extra match.
- Does the limit include the employer match?
- No. The $23,000 limit applies to your own deferrals. Employer contributions fall under a separate, higher combined limit, so this tool does not cap the match.