answersLogoWhite

0

What is a 403b retirement plan?

Updated: 9/21/2023
User Avatar

Wiki User

12y ago

Best Answer

A 403b retirement plan is offered to employees of certain non-profit organizations as well as educational instituitions. It is a tax deferred program in whcih you let the tax grow deferren until withdrawal.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a 403b retirement plan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are the benefits of a 403b retirement plan?

There are not any special benefits of a 403B retirement plan when compared to the more familiar 401K retirement plan. The only difference is that if your work for the government or are in a civil service type job the retirement plan is called 403B.


How does a 403b retirement plan differ from a 401(k) plan?

It is always good to have a retirement plan you need to first decide what you want,this site http://www.nationwide.com/403b-retirement-plans.jsp will tell you about a 403b plan which differs from a 401k plan which is usually offered by your company.


What are 403b retirement plans?

A 403b retirement plan is employees of educational institutinos, such as colleges and universities or high schools, and some non-profit organizations as well. Some people who are eligible to have a 403b retirement plan are doctors, teachers, librarians, professors, etc. A 403b plan works by the employee setting money aside from their paycheck, before taxes. This money is put into the 403b account until retirement and at that time becomes taxed. It is tax free up until that time. Check here for more information: http://www.403bwise.com/faqs/


Which employers are able to sign up for 403b retirement plans?

The 403b retirement plan is designed for those who are employees in public schools, colleges, universities and churches. Some tax-exempt and non-profit organizations will not qualify.


The 401K and 403B plans are part of which type of benefit?

retirement


What premiums are offered at Nationwide Retirement?

Natonwide Retirement premiums are dependant on your personal situation.Some retirement options are 401k,403b and 457.


Does the IRS take taxes from your pension or 403B?

A 403B plan is a tax deferred retirement program that allows certain employees of schools and some non-profit organizations to defer taxes on income earned working for these organizations. It is almost the same thing as a 401K program. These plans allow income to be sheltered from income taxes until you withdraw this income from the plan. Pensions and 403B plans are not taxed until you receive the income.


How long after your 403b contribution is deducted from your paycheck should it take to be credited to your 403b account?

That is a guideline of the plan document and varies by the manner by which an employer transfers the funds to the plan. Ask your employer or the plan reperesentative for specifics.


How is the retirement plan and benefits of LPN?

What is the retirement plan of lpns?


What is a 403(b)?

A 403b is similar to a 401k but involves non-profit or charitable organizations. Churches, some community colleges, or private colleges are among the examples. There are somewhat different rules on 403b contribution levels. Withdrawals for active pastors also may make deductions for housing allowances deductible.


What type of retirement plan do forensic scientist have?

what is the retirement plan do to forensic scientist have


What is the difference between individual retirement plan and long term retirement plan?

RETIREMENT PLAN IS WHEN YOU ARE PLANNING TO RETIRE WHEN YOU HAVE NOT WORKED FOR A long time AND LONG TERM RETIREMENT PLAN IS WHEN YOU HAVE WORKED FOR A LONG TIME AND YOU WILL will be planning to retire