Difference between???

Question

What is the difference between a 401 K and a 403 B? I have always heard of 401 K, but at my new job they have the 403 B. I am not sure if they work the same. Any information is much appreciated.

Answer 1

A 401k is a retirement plan offered by for-profit companies.  A 403b plan is a retirement plan offered by schools and  universities, teaching hospitals and certain nonprofit organizations.

Answer 2

You can found this information in Wiki.

Url: http://en.wikipedia.org/wiki/403(b)