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Author: TyroFool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75888  
Subject: What is difference between 403(b)1 and 403(b)7? Date: 12/5/1998 9:03 PM
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Can anyone explain the difference between a 403(b)1 and 403(b)7, or direct me to a resource with the answer?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7056 of 75888
Subject: Re: What is difference between 403(b)1 and 403(b Date: 12/6/1998 9:33 AM
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Greetings, TyroFool, and welcome. You asked:

<<Can anyone explain the difference between a 403(b)1 and 403(b)7, or direct me to a resource with the answer?>>

Qualified retirement plans established as 403(b) plans may only invest in annuities and/or mutual funds. Basically, Section 403(b)(1) of the Infernal (sic) Revenue Code refers to a plan which invests in annuities while Section 403(b)(7), IRC refers to one which invests in mutual funds. Generally speaking, though, most 403(b) plans allow participants to invest in both annuities and mutual funds.

Regards….Pixy


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