403(b) vs. 401(k): What's the difference?

403(b)s are for government or non-profit employees, while 401(k)s are offered by for-profit companies.
Alyssa Powell/Insider
403(b) and 401(k) plans are similar retirement savings tools offered by employers.
The main differences between 403(b)s and 401(k)s are the type an employer can offer and investment options participants have.
Both plans give employees options to add after-tax funds, take loans against existing balances, and have special circumstances to withdraw funds without penalty.
Vis