Lynn works for a state university. In addition to the university’s reg

Lynn works for a state university. In addition to the university’s regular retirement plan, Lynn participates in another retirement savings plan.

She elected to have $5,000 of her salary withheld and contributed to a tax-sheltered annuity with an insurer. The type of plan that Lynn established is called a
A) SIMPLE plan.
B) 403(b) plan.
C) defined benefit plan.
D) Keogh plan.

ANSWER

Answer: B