Liz Weston: Investing for retirement — Why you might want to reconsider that 403(b)

By LIZ WESTON of NerdWallet

We often talk about 401(k)s and 403(b)s as if they’re the same, but they’re not. While both can help you save for retirement, 403(b)s have fewer consumer protections and can be a bad deal for the people — often teachers — they’re supposed to serve. If your employer offers a 403(b), research the plan thoroughly. Pay particular attention to annual fees and surrender charges, which could be costly. Then, investigate possible alternatives, including a Roth IRA or 457 plan, in order to make the best decision for your retirement savings.