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It’s like a 401(k), except for a different type of employee.
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Here’s how 403(b) and 401(k) plans work and their major differences. ... provided they haven’t deferred more than the product of $5,000 times the number of years or service at the organization
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403(b) Plan. 401(k) Plan. Eligibility. Work for a nonprofit or government entity. Work for any private employer. Contribution Limits. $22,500 per year in 2023, plus an additional $3,000 per year ...
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