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What's the difference between the 401k, the 403b, the 457, and the IRA?
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The 401(k) is a retirement savings plan offered by employers. It allows employees to save money for retirement on a pre-tax basis. The 403(b) is similar, but it is offered through certain educational institutions. A 457 is a retirement savings plan offered by state and local governments. An IRA (Individual Retirement Account) is an individual retirement account that allows you to save for retirement on a post-tax basis.