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Posted on: 20th Jul, 2005 10:21 am
what is the difference bet 401k and 403k
Hi mbrown

Welcome to MortgageFit forum.

The 401(k) Plan is a retirement plan available to employees of profit and tax-exempt organizations.

But a 403(b) Plan is generally offered to employees of educational institutions and non-profit organizations.
Another difference lies in their investment options. A 401(k) participant can invest in purchasing individual stocks, mutual funds etc. On the other hand, the 403(b) Plan allows for investments in annuity contracts or mutual funds and money-market funds.

Moreover a 403(b) plan allows an employee to go for the Lifetime Catch-Up Contribution which is not available in the 401(k) Plan.

Hope this information will fulfill your needs.

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Posted on: 20th Jul, 2005 09:42 pm
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