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403(b)
Plan
A retirement plan that permits employees of public schools and
501(c)(3) tax-exempt organizations to have salary and/or employer
contributions made on a pre-tax basis. Contributions grow tax-deferred
until withdrawn.
403(b)(7)
Plan
A type of individual retirement account (IRA) designed specifically
for employees of qualifying nonprofit organizations (i.e., public
schools, public hospitals, churches). A 403(b)(7) plan enables
these employees to defer taxes on a portion of their salaries
by earmarking that portion for the retirement plan. Several investment
options, including funds, are generally offered for investment.
401(k)
Plan
An employer-sponsored retirement plan that enables employees to
defer taxes on a portion of their salaries by earmarking that
portion for the retirement plan. Several investment options, including
a range of funds, are generally offered. Contributions grow tax-deferred
until withdrawn.
For more information please contact TTG
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2003. TTG (HK) Limited.
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