What is a 401(k)?

A 401(k) plan is a tax-deferred savings plan for retirement. Contributions are deducted from an employee's gross pay and put into a 401(k) account. The maximum…

What is a 403(b)?

A 403(b) is a retirement savings plan, similar to a 401(k), that is offered to “certain employees of public schools, employees of certain tax-exempt organizations, and…