HR Glossary

What is 403(b)?

A US tax-advantaged retirement savings plan for employees of public schools, tax-exempt nonprofit organizations, and religious institutions, functioning similarly to a 401(k) but with different eligibility rules and investment options.

Why it matters in hiring

403(b) comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with #

• 360 Feedback
• 4-Day Work Week
• 401(k)
• 401(k) Compliance
• 70-20-10 Learning Model
• 90-Day Plan

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.