401(k) & 403(b)

These retirement savings plans are funded by employee contributions, and in many cases, matching contributions from the employer. If your employer offers a 401(k) or 403(b) plan, you should take full advantage of it.

Features & Benefits

  • Contributions are made before taxes
  • Many employers will match a portion of the employee contributions
  • Funds can be invested in a variety of mutual funds
  • Earnings grow tax-free until withdrawn

Who's Eligible?

  • Plans and guidelines around eligibility and matching funds are established by the employer. Check with your employer to see if you're eligible.

What's The Difference Between a 401(k) and a 403(b)?

They're basically the same; however nonprofit companies, religious groups, school districts and governmental organizations use a 403(b). Laws allow these organizations to be exempt from certain administrative processes that apply to 401(k) plans.

Contribution Limits

     2013      2014
Under 50    $17,500    $17,500
Over 50    $23,000    $23,000

403(b) accounts allow for an additional contribution of $3,000 for employees who have 15 or more years of service.

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This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC and its vendors do not provide legal, tax or accounting advice. You should seek the advice of an investment professional to tailor a plan to your particular needs.

Important Investor Information: Brokerage and insurance products are:

Securities and brokerage services are provided by PNC Investments LLC, a registered broker-dealer and investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered by PNC Insurance Services LLC, a licensed insurance agency.

Bank deposit products and services provided by PNC Bank, National Association. Member FDIC.

PNC Investments LLC, PNC Insurance Services, LLC and PNC Bank, National Association are each affiliated with The PNC Financial Services Group, Inc.