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 certain ministers.” This type of retirement account is set up by employers. Learn more from the IRS here.

This article provides general information and shouldn’t be construed as legal, benefits, or HR advice. Benefits and insurance regulations may change over time and may vary by location and employer size. So, please consult a licensed broker or appropriately certified expert for advice specific to your business’s benefits options.