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What's the difference between a 401k and a 403b?
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The main difference between a 401k and a 403b is that a 401k is an employer-sponsored retirement savings plan, while a 403b is a tax-advantaged retirement savings plan offered by certain nonprofits. A 401k typically offers more generous contributions than a 403b, with employers matching some of your contributions up to a certain limit. Additionally, 401ks may have additional features such as higher contribution limits or access to other investment options like stocks and bonds.