All three are tax-deferred retirement plans that are designed to help employees save by adding pre-tax income a to a retirement savings account. The plans differ based on the type of employer who can offer them, and each type is governed by slightly different rules. For example, employee deferral and employer contribution limits may vary across each type of plan. 401(k) plans are offered most broadly in private or for-profit organizations. Public schools (including colleges and universities) 501(c)(3) non-profits and churches can offer 403(b) plans. 457 plans can only be offered by state and local governments and certain nonprofit organizations.
Articles in this section
- What is Betterment for Business?
- Is a 401(k) plan similar to 403(b) and 457 plans?
- What is the new pricing structure?
- How do I get more information about offering Betterment for Business to my company?
- Does Betterment for Business provide support?
- What does a full-stack 401(k) solution mean for me?
- What are the benefits of Betterment for Business?
- What is Betterment?