For 403(b) Plan we have terms and definitions in 3 topics. The topics are Employee Benefits, Homeowners Insurance and Investment.

403(B) Plan (Employee Benefits)

A plan sponsored by a section 501(c)(3) tax-exempt organization (including a church) or a state educational organization funded with annuity contracts or custodial accounts (mutual funds). Also referred to as tax-sheltered annuities (TSAs) or tax-deferred annuities (TDAs), these plans may permit employee deferrals only, or a combination of employee deferrals and employer contributions, whether by a percentage of pay or pursuant to a matching formula. These plans may be subject to Title I of ERISA if not a governmental plan and if the employer is deemed to be actively maintaining a plan under ERISA.

403(B) Plan (Homeowners Insurance)

This is an employer-sponsored retirement savings plan for employees of not-for-profit organizations such as hospitals, colleges, and religious and cultural institutions. Employees can contribute pre-tax dollars, and sometimes an employer will add a matching contribution, up to a set limit.

403(B) Plan (Investment)

An employer-sponsored retirement plan that enables employees of universities, public schools, and nonprofit organizations to defer taxes on a portion of their salaries by earmarking that portion for the retirement plan. 403(b) plans are also subject to ERISA and the IRC.

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