Participating in a traditional 401(k) plan doesn't have to take a big bite out of your take-home pay — and it can cut down on your tax bill.
To see how establishing or increasing your contribution will affect your income tax and take-home pay, just answer the following questions, then click Submit.
What is your current gross pay each pay period? |
What is your current age? |
40 |
How often are you paid? |
Monthly |
What percentage of your paycheck would you like to contribute to your traditional 401(k) plan? |
0.00% |
| Does your employer offer a matching contribution? If so, enter the appropriate percentage of match for your desired level of contribution. For example, if your employer offers a two-tiered program with a 100% match on contributions of up to 3% plus a 50% match on contribution amounts over 3% up to a maximum of 6%, enter 100% on 3% as the 1st Tier and 50% on 3% as the 2nd Tier. |
What is your federal income tax rate? |
10% |
If your income is subject to state taxes, enter your state income tax rate. |
0.00% |