Is a 403B account considered a deferred compensation plan? In other words, can the account be rolled over to an IRA when my wife leaves the school system?

Yes. Just contact a "sponsor" (broker or mutual fund company) and get a transfer form at that time.

Dweiss3 asks:

<<Is a 403B account considered a deferred compensation plan? In other words, can the account be rolled over to an IRA when my wife leaves the school system?>>

Yes, as Ataloss says, a 403b account is considered part of a qualified defined contribution plan to which you may defer part of your compensation. As such, it is fully eligible for transfer to an IRA when the participant leaves the job. When that time arrives, your wife's plan administrator and her desired IRA custodian can guide her through the administrative steps to transfer the account to the IRA.

Regards….Pixy

I have done exactly that with my own 403b. You can do it with current plan administrator or select new IRA funds. Your wife will probably need to get her employer to let the current plan manager know that she is fully eligible to rollover all funds at the time she terminates.