Is a 403(b) an IRA?

While 403(b) plans and IRAs are both retirement accounts that offer tax benefits, a 403(b) is not an IRA. Both types of plans do allow for pretax contributions — that can mean a lower tax bill in the year you contribute — and in both plans your money grows tax-deferred. (Traditional IRAs restrict who can…

The article Is a 403(b) an IRA? originally appeared on NerdWallet.

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