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.
New York 401k and retirement tax guide - 2026
How New York taxes 401k contributions and retirement distributions
New York retirement tax overview
New York exempts pension income from certain public retirement systems and allows up to $20,000 exclusion of other retirement income. New York City also taxes retirement income at the city level.
New York allows a $20,000 retirement income exclusion per person for taxpayers 59.5 and older. However New York City retirees also pay city income tax on distributions above the exclusion amount. High-balance NYC retirees should consider relocating before taking large 401k distributions.
Federal 401k rules that apply in New York
Regardless of New York 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 New York retirement situation.