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401k
A qualified plan established by employers to which eligible employees may make salary deferral (salary reduction) contributions on post and/or pre-tax basis. Employers may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add a profit sharing feature to the plan. Earnings accrue on a tax-deferred basis.
403b
Also known as a tax-sheltered annuity (TSA) plan, the 403(b) is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers. Individual accounts in a 403(b) plan can be any of the following types:
- An annuity contract, which is a contract provided through an insurance company,
- A custodial account, which is an account invested in mutual funds, or
- A retirement income account set up for church employees. Generally, retirement income accounts can invest in either annuities or mutual funds.
The features of the 403(b) plan are very similar to the 401(k) Plan. Employees may make salary deferral contributions that are usually limited by regulatory caps.
SEP Plans >>
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401k/403b
SEP Plans
Profit Sharing
SIMPLE
Defined Benefits
Tully & Co. Investments
481 Hanover Street
Manchester, NH 03104
603-665-9220
603-665-9227 (f)
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