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.
Ohio 401k and retirement tax guide - 2026
How Ohio taxes 401k contributions and retirement distributions
Ohio retirement tax overview
Ohio offers a retirement income credit and has a relatively low top income tax rate of 3.5%. Ohio's declining income tax rates improve the retirement environment.
Ohio allows a retirement income credit of up to $200 for taxpayers 65 and older with qualifying retirement income. Ohio's declining income tax rates mean retirees will pay less state tax on 401k distributions over time.
Federal 401k rules that apply in Ohio
Regardless of Ohio 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 Ohio retirement situation.