401k contribution calculator - 2026
Enter your salary, contribution rate, and employer match to see your projected retirement savings
| Category | Annual | Total at retirement |
|---|---|---|
| Your contributions | -- | -- |
| Employer match | -- | -- |
| Investment growth | -- | -- |
| Total projected balance | -- | -- |
Projections assume constant contribution rates and investment returns. Actual returns vary and are not guaranteed. This calculator is for educational purposes only. Consult a financial advisor for personalized retirement planning advice.
Maine 401k and retirement tax guide - 2026
How Maine taxes 401k contributions and retirement distributions
Maine retirement tax overview
Maine allows a pension income deduction for qualifying retirement income. Maine's relatively high income tax rate makes retirement tax planning important.
Maine allows a deduction of up to $10,000 for pension and other retirement income for taxpayers 65 and older. Maine's tax rates are relatively high so maximizing this deduction is important for Maine retirees.
Federal 401k rules that apply in Maine
Regardless of Maine state tax treatment, federal rules govern 401k contribution limits. In 2026 the 401k contribution limit is $23,500 per year ($31,000 if age 50 or older with catch-up contributions). Traditional 401k contributions reduce your federal taxable income dollar-for-dollar in the year contributed. You pay ordinary income tax when you withdraw in retirement. Withdrawals before age 59.5 are subject to a 10% federal penalty plus income taxes unless an exception applies.
This guide is for general informational purposes. Tax laws change frequently. Consult a qualified financial advisor or tax professional for advice specific to your Maine retirement situation.