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403(b) plan

A retirement plan similar to a 401(k) plan, but one which is offered by non-profit organizations, such as universities and some charitable organizations, rather than corporations. There are several advantages to 403(b) plans: contributions lower Taxable income, larger contributions can be made to the Account, earnings can grow tax-deferred, and some plans allow Loan. Contributions can grow Tax-deferred until Withdrawal at which time the Money is taxed as Ordinary income (which is sometimes a disadvantage).

Related Terms: 19 Account, Contribution, Defer, Inc., Loan, Low, Money, Offer, Owe, Ordinary income, Profit, Retire, Ratio, RSI, Tax, Tax-deferred, Taxable income, Withdraw, Withdrawal
Other Related Pages: Category: Taxes Starting With: 1
Semi Related Terms: 760 CLICK HERE TO VIEW