Series 24: 403(b) Plan

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term 403(b) Plan...

a plan for corporate employees in which employees contribute a portion of their wages to individual accounts and where contributions may be matched by their employers. Formerly called tax-sheltered annuities, these are similar to 401(k) plans but are for employees of nonprofit entities.

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