401k Calculator for Mississippi (MS) — Free Calculator

401(k) Calculator for Mississippi

Mississippi has the lowest median household income of any US state. The economy is based on agriculture, manufacturing, gaming (Gulf Coast casinos), and military installations. The state faces persistent economic challenges but also has an extremely low cost of living.

Mississippi 401(k) Savings Overview

Data Point	Value
Average 401(k)/Retirement Balance (Mississippi)	$82,000
Median Household Income	$45,792
10% Contribution on Median Income	$4,579/yr
Est. Balance After 30 Years (10% contribution, 5% match, 7% growth)	~$454,167

Maximizing Your 401(k) in Mississippi

The average Mississippi household near retirement has saved approximately $82,000 in retirement accounts. At the Mississippi median income of $45,792, contributing 10% per year ($4,579) plus a typical 5% employer match could grow to approximately $454,167 over 30 years at a 7% annual return.

Mississippi is one of the most retirement-tax-friendly states in the country. Mississippi does not tax any retirement income including Social Security, pensions, 401(k) and IRA distributions, and annuities. There is no tax on retirement income whatsoever.

Use CalcuWealth's 401(k) calculator to enter your current balance, salary, contribution rate, and expected employer match to project your Mississippi retirement savings.

Data: US Census Bureau ACS 2023, Zillow (2024), Vanguard How America Saves (2023), NCES. Updated 2024–2025. Figures reflect state averages — consult a licensed financial advisor for personalized guidance.

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Frequently Asked Questions

How does Mississippi tax 401(k) withdrawals?

401(k) withdrawals are generally treated as ordinary income for Mississippi state tax purposes. However, Mississippi may offer exemptions or deductions for retirement income that could reduce your tax burden. Check with a Mississippi tax professional for specific rules about how retirement plan distributions are taxed in your state.

Does Mississippi have a state retirement plan for workers?

Some states including Mississippi have enacted or are considering state-sponsored retirement plans for workers whose employers do not offer 401(k) or similar plans. These programs typically auto-enroll workers into an IRA with a default contribution rate. Check if Mississippi has an active state retirement savings program for eligible workers.

What are typical employer matches in Mississippi?

Employer match rates in Mississippi generally mirror national trends, with common structures being 50% match up to 6% of salary or dollar-for-dollar match up to 3-4%. Large Mississippi employers and tech companies may offer more generous matches. Always review your specific employer plan documents for exact match terms.