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401(k) match calculator
Enter your salary, the percent of pay you contribute and your employer's match formula. See what you put in, what your employer adds, the match you are leaving unclaimed and the yearly total.
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Your results
- Your contribution = salary times your contribution percent. Employer match = salary times the smaller of your contribution and the limit, times the match rate.
- Match left unclaimed = salary times the gap between the limit and your contribution, if any, times the match rate.
- Yearly figures, assuming the same contribution all year, in the currency you entered. The calculator applies no contribution limits; check your plan document for its rules.
How to use it
- Enter your salary and contribution. Type your yearly salary and the percent of pay you put into the plan, as shown in your payroll or plan account.
- Enter the match formula. Find the match in your plan summary or benefits pages. A formula such as 50 percent of what you put in, up to 6 percent of pay, means a match rate of 50 and a limit of 6.
- Check the match you are missing. Read what you contribute, what your employer adds and the match left unclaimed. If the unclaimed amount is above zero, raising your contribution to the limit would collect the full match.
Example
What was entered
- Yearly salary
- 80,000.00
- Your contribution
- 4%
- Employer match rate
- 50%
- Matched up to
- 6%
The result
- Your contribution a year (in your currency)
- 3,200.00
- Employer match a year (in your currency)
- 1,600.00
- Match you are leaving unclaimed (in your currency)
- 800.00
- Total saved a year (in your currency)
- 4,800.00
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Frequently asked questions
How is a 401(k) match calculated?
Take the smaller of your contribution percent and the match limit, apply it to your salary, then multiply by the match rate. On 80,000, contributing 4 percent with a 50 percent match up to 6 percent, you put in 3,200 and your employer adds 1,600 a year.
What is the match left unclaimed?
It is the extra match you would get by contributing up to the limit. In the same example, the gap between 4 and 6 percent of 80,000 is 1,600, and half of that, 800 a year, is the match left unclaimed. Raising your contribution to 6 percent would collect it.
Is the employer match mine right away?
Not necessarily. The IRS explains that an employee's own contributions to the plan, such as elective deferrals deducted from salary, are always 100% vested, or owned, by the employee. It also says 401(k) and other qualified defined contribution plans can offer a variety of different vesting schedules that are determined by the plan document. Check your plan document to see when the match becomes yours.
My plan has a tiered match. Can I use this?
The calculator handles one match rate up to one limit. For a tiered formula, run it once for each tier, entering only the part of your contribution that falls in that tier, and add the employer match amounts together.
Does the calculator apply any contribution limits?
No. It applies only the match formula you enter and does not cap what you or your employer can put in. Check your plan for any yearly limits or other rules that apply to you before you change your contribution.