What is a Roth 403(b)?

A Roth 403(b) plan is a retirement plan for certain employees of tax-exempt organizations, public schools and certain ministers that operate as a Roth plan, according to Investopedia. Individuals can contribute salary deferral contributions on an after-tax basis, and the investment money grows tax-deferred and distributions are tax-free.

For the distributions of a Roth 403(b) to be tax-free, they must occur after a five-taxable-year period, and the account owner must be at least 59 1/2, disabled or deceased when the distribution occurs, according to Investopedia. Required minimum distributions do not apply to Roth 403(b)s while the account owner is alive, and there is no maximum age for making contributions.