By Amber Deter Retirement 401(k) plans are common. However, we’re going to discuss the slightly-less famous cousin, the 403(b) retirement plan. Also named after the IRS tax code, 403(b) plans are offered to employees of tax-exempt groups (Code Section 501(c)(3)) and public education institutions. Also, some ministers may be eligible for a 403(b), but churches have a plan of their own.
So, what is a 403(b) retirement plan? Let’s go over the specifics…
What is a 403(b) Plan?
A 403(b) retirement plan lets you save money, lower your taxable income, and invest your savings. When they were first created, 403(b) plans were tax-sheltered annuities. So they …read more
