A 403(b) plan is a powerful retirement savings vehicle. This type of plan is typically offered by educational institutions, churches and charitable entities that want to demonstrate their commitment to employees' long-term financial well-being through a comprehensive retirement plan. By choosing to implement a 403(b) plan, the mutual employer/employee benefits can contribute to a stronger, more stable organization.

• 403(b) plans function similarly to 401(k) plans, allowing employees to contribute pre-tax dollars from their paychecks. 
• 403(b) plans can also provide for after-tax Roth contributions, which could provide for tax-free retirement distributions.
• Allows employees to build a retirement savings that grows tax-deferred until withdrawal. 
• As their investments grow over time, plan participants have the potential to accumulate more substantial retirement savings compared to non-retirement plan investment solutions.