401(k) Plan
A retirement plan that is set up by the employer, into which employees can contribute $13,000 or 15% of their pay (whichever is lower), which then is excluded from taxation until the moment they remove the funds from the account.

403(b) Plan
Similar to 401(k), but this retirement plan is designed specifically for charitable, religious, and educational organizations that fall under the tax-exempt status of 501(c)(3) regulations.