What is a 403(b) retirement plan?

A 403 (b) is a type of retirement plan available for employees in public schools, charitable 501 (c) (3) tax-exempt organizations, and certain faith-based organizations. Employers provide access to 403 (b)s to attract and retain workers. If you don't have access to a 403 (b), you can save for retirement using a different type of account.

What is a 403(b) tax sheltered annuity plan?

The 403 (b) Tax-Sheltered Annuity Plan serves employees of public schools and tax-exempt organizations. Contributions to 403 (b) plans are made through payroll deductions. The IRS limits how much employees can contribute to their 403 (b) plans.

Who is included in a 403(b) plan?

A 403 (b) plan is designed for certain employees of tax-exempt organizations. Participants may include teachers, school administrators, professors, government employees, nurses, doctors, and librarians. The 403 (b) Tax-Sheltered Annuity Plan serves employees of public schools and tax-exempt organizations.