What is a 403(b)?

403(b)

A 403(b) is a retirement plan that allows employees of certain tax-exempt organizations to set aside a portion of their compensation for retirement investing. In some plans, it also allows for an employer contribution, either through a matching or discretionary contribution.

A 403(b) may be suitable for employers such as universities, colleges, hospitals, churches, and certain other tax-exempt organizations that want to offer a retirement plan to employees.

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