https://www.moneycrashers.com/401k-and-403b-q-a/
http://www.sfusd.edu/en/employment/salary-and-benefits.html
The basic difference is that a 403b is used by nonprofit companies, religious groups, school districts, and governmental organizations. The law allows these organizations to be exempt from certain administrative processes that apply to 401k plans. In other words, administrative costs for a 403b are lower. This allows organizations with very small budgets to help their employees save for retirement.
The difference in cost between a 401k and a 403b can be either small or substantial. Your cost will be determined by what you invest in, the level of service the management company provides, and who the company is.
For example, a variable annuity in either plan will take a bite out of your earnings, as its associated fees are typically high. That said, 401k administrative costs can be much higher than those of a 403b, regardless of the investment inside. To find out how much you’re paying for your plan’s administration, you’ll probably have to look beyond your statement, as the information usually isn’t visible there.
For the most part, the two types of plans work the same way. While 403(b) plans historically offered more limited investment choices than corporate plans, they’ve recently begun offering a broader array of investment options. And while 401(k)s frequently have vesting schedules spread out over a few years, many 403(b)s vest immediately, or over a shorter period of time than in their cousins in the for-profit world.
Go to www.403bcompare.com , click on My Employer and choose San Francisco Unified School District to get started. Contact the vendor of your choice to open an account.
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