403b
Nonprofit pension plan
A 403b is a retirement savings plan for employees of public schools, nonprofits, and certain tax-exempt organizations—the nonprofit sector's equivalent of a 401k.
Contributions are typically tax-deferred, reducing current taxable income while the account grows untaxed until withdrawal.
She maxes out her 403b every year.
Also written 403(b).
Employer-sponsored retirement savings
- pensionRetiree's ongoing benefit
- nest eggSaved money for later
- savingsAccumulated money kept
- annuityPeriodic fixed payment
IRA · Roth · deferred compensation · employer match · vesting · beneficiary · rollover · distribution
Pooled, managed investment vehicle
- portfolioCollected works or assets
- contributionsThings given to help
- asset allocationDistributing investments strategically
- diversificationExpanding into varied areas
Taxes owed later, not now
- pre-taxBefore levies apply
- tax-shelteredExempt from fiscal obligations
- taxable incomeEarnings subject to taxation
- tax bracketTaxable income category
withholding · traditional · after-tax · payroll deduction · adjusted gross income · tax penalty · early withdrawal penalty
Organization serving public good
- school districtGeographic education administrative unit
- teacherOne who instructs others
- hospitalMedical treatment facility
- public schoolFree government-run education
university · church · charity · minister · educator · government employee · clergy
401k
Employer-sponsored retirement savings
annuity · IRA · Roth · deferred compensation · employer match · vesting · beneficiary · rollover · distribution · withdrawal
mutual fund
Pooled, managed investment vehicle
- portfolioCollected works or assets
- contributionsThings given to help
- asset allocationDistributing investments strategically
tax-deferred
Taxes owed later, not now
- pre-taxBefore levies apply
- tax-shelteredExempt from fiscal obligations
- taxable incomeEarnings subject to taxation
tax bracket · withholding · traditional · after-tax · payroll deduction · adjusted gross income · tax penalty · early withdrawal penalty
nonprofit
Organization serving public good
- school districtGeographic education administrative unit
- teacherOne who instructs others
- hospitalMedical treatment facility
public school · university · church · charity · minister · educator · government employee · clergy
403bpension
Retiree's ongoing benefit
company pension · Social Security · government pension · 401k · annuity
403bspending
Outlaying of funds
living paycheck to paycheck · credit card debt · consumer spending
403bchecking account
Bank deposit for transactions
spending money · cash on hand · liquid assets · disposable income · savings account