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Asked 10/15/2010

What is the difference between 401k and 403b?

 
 
 
 
 
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Answer 1/2 - Submitted 10/16/2010

They are both defined contributions plans. The 403b is sponsored by non profits and or government agencies. And 401K is by private companies. However, the non profit and governments can have 401k now.

 
 

Answer 2/2 - Submitted 10/16/2010

They are both retirement plans. A 403b is a government retirement plan and a 401k is a company retirement plan. I hope this answers your question. Thank you.

 
 
 
 
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