What Is A 403B Vs 401K? 
The Internal Revenue Code allows an employer to establish a defined contribution pension plan under paragraph 401 -LRB- k. -RRB- Certain non-profit organizations can provide their employees access to a retirement savings plan under paragraph 403 -LRB- b. -RRB- The 403 -LRB- b -RRB- is usually in addition to the pension plan established by the school district or hospital concerned . 