How does a 403b work?
In: Economics
A 403b is essentially the same as a 401k plan, but they are retirement plans that are offered by schools, universities, state or city offices, or non-profit organizations. It’s the IRS code that allows this type of retirement plan.
You can save your money on a pre-tax basis, and you may or may not receive a matching contribution. The money is intended to be used for retirement, and it is taxed when you take it out.
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