403(b) Plan Setup Sample Contracts
Seligman403(b) Plan Setup • March 31st, 2008 • Massachusetts
A 403(b) custodial account is a special, tax-advantaged savings vehicle avail- able only to employees of non-profit tax-exempt organizations (under Section 501(c)(3) of the Internal Revenue Code) such as charitable, educa- tional, scientific and religious organizations. Examples are hospitals or col- leges. Also, an employee of a state or local government who is employed by a school (for example, a local school system or state college or university) can have a 403(b) account. Check with your employer to determine whether you qualify for a 403(b) account.