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.
Virginia 401k and retirement tax guide - 2026
How Virginia taxes 401k contributions and retirement distributions
Virginia retirement tax overview
Virginia allows an age deduction of up to $12,000 for taxpayers 65 and older. Virginia's proximity to Washington DC contributes to higher average retirement savings.
Virginia's $12,000 age deduction for taxpayers 65 and older reduces the state tax burden on retirement income. Virginia also has relatively favorable tax treatment of military pension income.
Federal 401k rules that apply in Virginia
Regardless of Virginia 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 Virginia retirement situation.