Review:
403(b) Plan
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
A 403(b)-plan is a retirement savings plan for employees of certain non-profit organizations, public schools, and cooperative hospital service organizations.
Key Features
- Tax-deferred contributions
- Employer matching contributions
- Limited investment options
- Early withdrawal penalties
Pros
- Tax advantages for retirement savings
- Potential for employer matching contributions
- Secure way to save for retirement
Cons
- Limited investment options compared to other retirement plans
- Penalties for early withdrawals before age 59 and a half