Review:
403(b) Retirement Plan
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
A 403(b) retirement plan is a tax-advantaged retirement savings plan available to employees of certain non-profit organizations, public schools, and other tax-exempt organizations.
Key Features
- Tax-deferred contributions
- Employer matching contributions (if offered)
- Investment options
- Penalties for early withdrawals
Pros
- Tax advantages for retirement savings
- Potential employer matching contributions
- Various investment options
Cons
- Limited to employees of certain organizations
- Penalties for early withdrawals
- Restrictions on when and how funds can be accessed