A retirement savings account that is set up for employees that work for a Non-profit, like Woods Services. This account receives contributions through payroll deductions, which are withheld pre-tax.  The deduction can be a percentage of the employee’s gross pay or a dollar amount each pay.

 

Woods Services’ employees are auto enrolled in this plan with a contribution of 3% of their biweekly pay.  This can be changed at any time by contacting the 403(b) provider directly.