403 Plan vs. 457(b) Plan: What’s the Difference?

403 Plan vs. 457(b) Plan What's the Difference

The 403(b) and 457(b) plans are like special savings accounts for retirement, but they’re only available to certain kinds of workers, like those in nonprofit organizations or government jobs. Both plans help you save money for retirement, but they also have their own unique features. Let’s explore how they’re similar and what makes each of them stand out from the regular 401(k) plan that many people are familiar with.

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