What Is A 403 B Retirement Plan? 
403 -LRB- b -RRB- plans were once referred to as tax-sheltered annuities , but 403 -LRB- b -RRB- s expanded beyond annuity products into other investments decades ago . A 403 -LRB- b -RRB- plan is a retirement savings plan for public schools and certain 501 -LRB- c -RRB- -LRB- 3 -RRB- nonprofit organizations. , hospital coops and self-employed ministers . 