401k Calculator for North Dakota (ND) — Free Calculator

401(k) Calculator for North Dakota

North Dakota's economy is dominated by energy (oil from the Bakken Formation), agriculture (wheat, soybeans, corn, sunflowers, canola), and a small but growing services sector. The oil boom transformed the state's economy in the 2000s and 2010s, creating significant wealth and infrastructure.

North Dakota 401(k) Savings Overview

Data Point	Value
Average 401(k)/Retirement Balance (North Dakota)	$108,000
Median Household Income	$65,315
10% Contribution on Median Income	$6,532/yr
Est. Balance After 30 Years (10% contribution, 5% match, 7% growth)	~$647,907

Maximizing Your 401(k) in North Dakota

The average North Dakota household near retirement has saved approximately $108,000 in retirement accounts. At the North Dakota median income of $65,315, contributing 10% per year ($6,532) plus a typical 5% employer match could grow to approximately $647,907 over 30 years at a 7% annual return.

North Dakota taxes Social Security as income, following federal rules. North Dakota income tax rates are very low, ranging from 1.1% to 2.9% (among the lowest in the country for states that have income tax).

Use CalcuWealth's 401(k) calculator to enter your current balance, salary, contribution rate, and expected employer match to project your North Dakota 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 North Dakota tax 401(k) withdrawals?

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

Does North Dakota have a state retirement plan for workers?

Some states including North Dakota 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 North Dakota has an active state retirement savings program for eligible workers.

What are typical employer matches in North Dakota?

Employer match rates in North Dakota 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 North Dakota employers and tech companies may offer more generous matches. Always review your specific employer plan documents for exact match terms.