For those working in the world of retirement planning, the differences between a 401(k) and a 403(b) Plan are obvious. However, there are many people outside of the financial services industry who are less aware of what each plan type means and who qualifies for these different retirement plan options. While the two plan types are similar in how they operate (for instance, both have the same contribution limits), there are some differences in the structure of the plan and within the investment options.
To clear up any confusion, ADMIN has decided to create the following infograph to help outline the differences between a 401(k) and a 403(b) Plan.
