403(b) PlansA 403(b) plan is a special tax-advantaged retirement plan designed exclusively for employees of the following types of organizations:
There are two general types of 403(b) plans tax sheltered annuities (TSAs) issued by an insurer, and custodial accounts, invested exclusively in mutual funds. Either type of 403(b) plan allows participants to make pretax contributions to a separate retirement annuity or custodial account set up in their individual names. Earnings in these accounts grow tax-deferred.
For more information on establishing a 403(b) plan, visit wellsfargo.com.