human
What's the difference between a 401k and a 403b?
assistant
A 401k is an employer-sponsored retirement savings plan, while a 403(b) is an employee-sponsored retirement savings plan. The primary difference between these two plans is that 401ks are typically offered by employers to their employees as part of a salary package, while 403(b)s are funded solely by employees through pre-tax contributions. Additionally, 401ks often have higher contribution limits than 403(b)s.