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What is the difference between a 401k, a 403b and a 457b?
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The main difference between a 401(k), a 403(b) and a 457(b) plan is the type of employer that offers them. A 401(k) is typically offered by private employers, such as small businesses, while a 403(b) is usually provided by nonprofits or government entities. A 457(b) is similar to a 401(k) in terms of eligibility requirements, but it’s funded through payroll deductions rather than being invested in stocks, bonds and other investments like a 401(k).