For employees of educational institutions and certain nonprofit organizations, the 403(b) plan can be a key element in their retirement-saving strategy. Employer-sponsored 403(b) plans allow participants to contribute pretax dollars into a retirement savings account, then withdraw funds when they retire, permitting account earnings to grow on a tax-deferred basis. Similar to their private sector counterparts, 401(k) plans, 403(b) plans have a variety of rules that govern contributions, withdrawals, and other factors that current and potential participants should be aware of.

Eligibility

403(b) plans are available to employees of educational institutions and certain nonprofit organizations that offer a plan. Plan participants include teachers, school administrators, professors, and doctors and nurses, among others.

Contributions

Contributions to a 403(b) plan can consist of pretax employee contributions, after-tax employee contributions, and employer contributions. Amounts contributed to a 403(b) plan and earnings thereon are not subject to income tax until withdrawn. For 2007, participants in a 403(b) plan can contribute up to

The Roth IRA, available since 1998, presents a potentially attractive alternative to the regular IRA long favored by many Americans as a cornerstone in their retirement planning efforts. That's because a Roth IRA may allow you to avoid future taxation of your retirement funds by making nondeductible contributions now.

Rules of the Roth IRA

Following is a summary of the rules for Roth IRAs:

Unlike the traditional IRA, contributions to a Roth IRA are nondeductible regardless of your income level or participation in a company-sponsored retirement plan.

Your contributions are limited to $4,000 a year ($8,000 for couples) in 2006. The contribution limit begins to decline or "phase out" for single taxpayers with adjusted gross incomes (AGIs) of more than $95,000 and for married couples filing jointly with AGIs of more than $150,000. Individuals with AGIs in excess of $110,000 ($160,000 for married couples filing jointly) are not eligible for a Roth IRA. Married taxpayers filing separately are not allowed to contribute to a Roth IRA. An individual's total contributions

In America today, carrying some debt is unavoidable, and even desirable, for most households. But between mortgages, car payments, and credit cards, many Americans find themselves over their heads -- unable to dig out from under a growing debt burden that consumes an ever growing portion of their resources.

The average U.S. household now has credit card debt of more than $9,300. Credit card companies have made running up that balance deceptively convenient. What's lost when you're on that spending spree is the realization that paying off your debt can be costly, in terms of both cash on hand and your overall financial health.

Assessing Your Debt

How much debt is too much? The figure varies from person to person, but in general, if more than 20% of your take-home pay goes to finance nonhousing debt or if your rent or mortgage payments exceed 30% of your monthly take-home pay, you may be overextended.

Other signs of overextension include not knowing how much you owe, constantly paying the minimum

With the sticker price of many automobiles now exceeding $25,000, more and more Americans are considering leasing as a viable financing alternative. In general, leasing a new car will end up costing you more over time than buying one. So why do so many people lease cars? Leasing can result in a lower initial cash outlay and lower monthly payments than a typical new car purchase. Through leasing, drivers can enjoy more car for their cash. The potential cost of that luxury, however, can be high.

How a Lease Works

The cost of the lease will depend on the sales price of the car, the interest rate, the lease period, and whether the lease is closed- or open-ended. With an open-end lease, you enjoy unlimited miles, but if the resale value of the car at the end of the lease is less than the agreed-to amount, you must make up the difference. A closed-end lease imposes a mileage limit, usually 12,000 to 15,000 miles a year. If you average more than this, you'll have to pay a per-mile surcharge (typically 8 to 15 cents a mile) at the end of the lease.

The terms and conditions of the lease typically hold you responsible for the care and condition of the car. Most leases require some initial down payment, but the actual amount will vary from dealer to dealer and

AMELIA ISLAND, Fla.--(BUSINESS WIRE)--Investing Systems announced today the results of Friday's market scan for the Stock Picker RT software.

"This week we saw some spectacular winners in the Stock Picker RT software," said William McKinley, President of Investing Systems. "Some of the picks this week were up 15% or more in just one day and Friday's biggest gainer was up over 7% in just one trading session."

The momentum scan that powers the Stock Picker RT produces a short list of stocks to watch every trading day as the market opens. The picks are based on growth and momentum as identified by technical and fundamental criteria.

"We have been very pleased with the software performance," McKinley said. "The Stock Picker RT always manages to find a few big winners no matter what the broader markets are doing."

The Stock Picker RT software, which is delivered on CD-ROM, will scan the market with a single click or can

NEW YORK (AP) -- In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad -- and most of them expect it to get worse.

Things have gotten so tough, title insurer Stewart Information Services Corp. said it could not cut costs fast enough in August and September to keep up with the plummeting market. The company has already made "significant reductions" in its work force in October. Its insurance reimburses a homeowner or a lender if there is an error in the deed transferring property.

The market turned quickly for mortgage insurer MGIC Investment Corp. as well, as the rising delinquencies forced the company to pay out more in claims in the third quarter. MGIC said it expects to lose money through 2008 because it estimates it will pay billions in claims. MGIC Investment already posted a loss of $372.5 million in the third quarter.

And Countrywide Financial Corp., the nation's largest mortgage lender, said it lost $1.2 billion over the

HONG KONG (AP) -- Alibaba.com Ltd., one of China's fastest-growing technology companies, reached its goal of raising $1.5 billion in its initial public offering Saturday, people close to the deal said.

Alibaba, an e-commerce portal, sold 858.9 million shares, or a 17 percent stake, at roughly $1.75 each, a source told Dow Jones Newswires on condition of anonymity.

The shares will debut on the Hong Kong stock market on Nov. 6.

The IPO price translates to a multiple of 55 times its forecast 2008 earnings, above the 34 times price-to-earnings ratio of Nasdaq-listed business-to-business search engine Global Sources Ltd., analysts said earlier. But the ratio is much lower than the 83 times price-to-earnings multiple of Chinese-language Internet-search provider Baidu.com Inc.

The IPO has drawn huge interest in Hong Kong, with the retail tranche of 128.83 million shares more than