Section 403(b)
Plan in the United
States, a type of employee retirement plan established by certain
tax-exempt organizations (i.e., hospitals, charities,
churches) and educational organizations. Section 403(b) plans were
created by Congress to serve as an incentive for
tax-exempt organizations (who could not benefit from the
tax advantages of qualified pension plans)
to
offer their employees
some
form
of retirement compensation. Also known as a
tax-deferred annuity
(TDA) plan or a tax-sheltered annuity
(TSA) plan.
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