403(b)and 457 plans are similar to 401(k)plans,but they are for employees of public and nonprofit organizations.

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403(b) and 457 plans are retirement savings plans that are available to employees of public and nonprofit organizations, such as schools, hospitals, and government agencies. While they share many similarities with 401(k) plans, there are some key differences in terms of eligibility, contribution limits, and withdrawal rules.

403(b)and 457 Plans Are Similar to 401(k)plans,but They Are for Employees