A 403(b) retirement savings plan is a tax-advantaged retirement account available to certain employees of public schools, employees of certain tax-exempt organizations, and ministers. Key features of a 403(b) plan include the ability for employees to make salary deferral contributions, potential employer contributions, and the option for tax-deferred growth of investments. Contributions to a 403(b) plan are typically invested in annuities or mutual funds. Unlike 401(k) plans, which are offered by for-profit companies, 403(b) plans are generally offered by nonprofit organizations and government employers. Regulations surrounding 403(b) plans are governed by the Internal Revenue Service (IRS) and are subject to specific contribution limits and withdrawal rules. It's important to note that early withdrawals from a 403(b) plan may incur penalties. Overall, a 403(b) plan provides a valuable opportunity for eligible employees to save for retirement in a tax-advantaged manner.