What's The Difference Between A 401k and 403b

by Retirement Advisor | Aug 5, 2022 | 403b | 13 comments

On today’s audio show, we answer a reader question and discuss the main differences between a 401k and a 403b. You can find the full article here:

In this episode, we talk about:
– What is a 401k
– What is a 403b
– The main similarities and differences between a 401k and 403b
– Other ways to save outside of these accounts

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13 Comments

Jason Buckman on August 5, 2022 at 9:45 pm
I have both.
Joseph Cisneros on August 5, 2022 at 9:45 pm
Could have been more useful, but thanks.
Alex Newiger on August 5, 2022 at 9:45 pm
2:59 is the differences between 401K and 403B
T Nick on August 5, 2022 at 9:45 pm
Great information, thank you for the breakdown.
Leo on August 5, 2022 at 9:45 pm
You forgot to mention how the Great Recession of 2008 wiped out 401K’s n ppl were left with nothing.
Peyton Cannon on August 5, 2022 at 9:45 pm
I work for Goodwill. I have 403b.
Columbia2015 on August 5, 2022 at 9:45 pm
What is the difference between a 401a and a 403b plan? Also how is 401a different than 401k? My hospital only offers the 401a and 403b plans. Thanks.
Omar Atk on August 5, 2022 at 9:45 pm
Thanks for the info! good stuff! but you guys have to nix the intro!
Adam Henrie on August 5, 2022 at 9:45 pm
Possibly one of the most annoying and patronizing intros ever — but thanks for the info !
Rolf Obey on August 5, 2022 at 9:45 pm
Another difference is that 403b's are not ERISA (Employee Retirement Income Security Act) regulated like 401k's are. That is why the 403b market is swamped with high priced insurance companies, that our held to less scrupulous standards and results in higher expenses for the investor.
Harry on August 5, 2022 at 9:45 pm
I just started a new job in the healthcare field and my basic salary ranges between 65-70K yearly. I'm technically single and 48 y/o. My employer offered 403b and 457, what are these, still confused after attending the orientation.
foxa08 on August 5, 2022 at 9:45 pm
So what's the difference between the two? Just that 403b plans might have a lower administration cost and less investment options?
malcorub on August 5, 2022 at 9:45 pm
My wife works for a hospital and her 403B contributions are listed in the "After Tax Deductions" bucket. I work for a private healthcare company and my 401K is in the Before Tax Deductions bucket. Are all 403Bs after tax?