What’s A 403 B Retirement Plan?

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    David RacichPRO
    Fountain Hills, Arizona
    A 403(b) plan is a tax-advantaged retirement savings plan under Economic Growth and Tax Relief Reconciliation Act of 2001 for public education organizations, some 501(c)(3) organizations), cooperative hospitals, and self-employed ministers. Employee salary deferrals into a 403(b) plan are made pretax and they grow tax-deferred with distributions taxable when withdrawn from the plan. 403(b) plans were also called tax-sheltered annuity.
     
    Answered on June 10, 2013
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