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It’s like a 401(k), except for a different type of employee.
Investment options can differ markedly: Many 403(b)s may have a narrower selection of investments, focusing on annuities, while 401(k)s may offer more mutual funds and allow the purchase of ...
Investment options: Some 403(b) plans offer potentially high-return investments, including stock funds. Roth 403(b) plan. A Roth 403(b) plan provides these additional benefits:
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 ...
Plus, 403(b) plans usually have limited investment choices and may come with high account and investment fees. The tax savings may still be worth the downsides, but you need to review your options ...
Fidelity also offers automated investing through its Fidelity Go robo-advisor. One drawback to its robo-advisor is that it charges a 0.35% annual advisory fee for balances of $25,000 and more.
Matching funds are free money. Image source: Getty Images. Maximize matches for better investment growth. Finally, note that while many 403(b) plans don't offer matching funds (unlike 401(k) plans ...
A Roth 403(b) plan is one type of tax-advantaged, employer-sponsored retirement savings account. While these plans share some similarities with 401(k) plans, they have certain characteristics that ...