to the 403bCompare Resource Center. Here you will find general
retirement planning information and educational materials developed
by government and regulatory agencies. These materials will aid you
in understanding the contents of 403bCompare.
We suggest you click here to learn about why it is important to invest in your future.
Internal Revenue Code 403(b) Plans
Certain employers are allowed to provide Internal Revenue Code (IRC) 403(b) Tax-Sheltered plans. These include:
- Public schools, colleges and universities
- Public hospitals
- Any charitable entity classified as tax-exempt under section 501(c)(3) of the IRC
Basically, 403(b) plans are similar to 401(k) plans maintained by for-profit entities. Just as with a 401(k) plan, a 403(b) plan lets employees defer some of their salary for retirement purposes. The funds in this account generally are not taxed by the federal government or by most state governments until they are distributed.
There are currently four types of investment products that may be purchased under Section 403(b) of the IRC.
Fees, Charges, Expenses, and Other Costs to Employee
Vendors of 403(b) investment products are required to disclose all fees when registering with 403bCompare. These fees may include:
Vendors may identify fees other than those listed above; users of the site should query vendors directly with questions about unfamiliar fees.
For your convenience, 403bCompare also provides a list of frequently asked questions and a list of educational links you may find helpful.