The 403(b) retirement plan is tailored for public school, nonprofit, and certain government employees, including federal staff. Contributions come from pre-tax income, lowering taxable income while building tax-deferred retirement savings. Employees have a range of investment options to suit their needs, and some plans feature employer matching, further enhancing savings potential. The plan’s adjustable contribution limits provide flexibility, making it an effective vehicle for long-term financial planning and retirement preparedness.