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The Top 9 Benefits of a 403(b) Plan

The Top 9 Benefits of a 403(b) Plan

A 403(b) plan is a type of tax-sheltered retirement plan that has a lot in common with the more widely recognized 401(k) plan. Contributions to a traditional 403(b) plan are deductible for federal income tax purposes. For example, if the last $10,000 of a worker's adjusted gross income was taxed in the 25% tax bracket, putting that $10,000 into a traditional 403(b) would net a tax savings of $2,500.