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Teacher Retirement Calculator
See your retirement income from all three sources in one place: your state pension, your 403(b)/457(b) savings, and Social Security. Built for K-12 educators, it shows your projected monthly income, how much of your salary it replaces, and the gap left to close.
1. Your state pension
Find these on your retirement-system statement. Multiplier is often near 2%.
2. Your 403(b) / 457(b) savings
Your tax-deferred retirement account through your district.
3. Social Security
Estimated monthly benefit from ssa.gov. WEP/GPO were repealed in 2025, so most educators now get the full amount.
4. Two quick questions
These tailor your result and what a specialist reviews.
Do you have a 403(b), 457(b), or 401(k) from a previous job or district?
Are you new to your district this year?
Your estimated retirement income
Updates as you type.
Estimate for educational purposes only, not financial, tax, or investment advice. Projections use simple assumptions (a 6% average annual return and the 4% withdrawal guideline) and your inputs; actual results vary. Confirm pension figures with your retirement system.
Get your numbers reviewed, free
A licensed educator-retirement specialist will look at your estimate and answer your questions. No obligation.
Worked examples
Three illustrations of how a state pension, a 403(b)/457(b), and Social Security combine. These are simplified estimates for illustration, not a quote or advice; your own numbers depend on your state's formula, returns, and benefit.
Maria, 25 years of service, 2% multiplier, $70,000 final average salary
Pension: 25 × 2% × $70,000 = $35,000/yr (~$2,917/mo). A 403(b) of about $150,000 adds roughly $500/mo at a 4% withdrawal rate. With full Social Security of about $1,800/mo (now that the WEP reduction is repealed), her total is about $5,217/mo, close to 90% of her recent monthly pay. Her gap to a comfortable 80% replacement is already closed.
David, 30 years of service, 2.3% multiplier, $85,000 final average salary
Pension: 30 × 2.3% × $85,000 = $58,650/yr (~$4,888/mo). That alone replaces about 69% of his monthly salary. Adding a modest 457(b) and Social Security pushes him past the 80% target without needing to work longer.
Sandra, 18 years of service, 2% multiplier, $60,000 final average salary
Pension: 18 × 2% × $60,000 = $21,600/yr (~$1,800/mo), only about 36% of her salary. This is the case where a 403(b)/457(b) matters most: her pension leaves a real gap, and consolidating an old 403(b) from a previous district plus steady contributions is what closes it. Project the 403(b) side here.
Common questions
How is a teacher pension calculated?
Most state teacher pensions use one formula: years of service multiplied by a benefit multiplier (often around 2%) multiplied by your final average salary. For example, 25 years at a 2% multiplier on an $80,000 final average salary gives an annual pension of about $40,000, or roughly $3,300 a month. Your exact multiplier and "final average" definition vary by state system.
Can teachers collect both a pension and Social Security?
Yes. The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which used to cut Social Security for many educators, were repealed by the Social Security Fairness Act in January 2025. Most teachers now receive their full Social Security benefit alongside their state pension.
How much should a teacher have in a 403(b) or 457(b)?
There is no single number. A pension typically replaces 50 to 60% of final salary, so your 403(b) or 457(b) is meant to close the gap toward a comfortable 80% replacement. The calculator above shows your projected gap so you can size contributions to it. To project just your 403(b), use the 403(b) calculator; to decide between plans, see 403(b) vs 457(b). If you also have an old 403(b) or 401(k) from a previous job, consolidating it is often the fastest way to cut hidden fees.
Is this calculator financial advice?
No. It is an educational estimate using simple assumptions. For a precise, personalized analysis, a licensed educator-retirement specialist can review your actual statements at no cost.