Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
The 403(b) is just a 401(k) for intentionally non-profit organizations like The American Heart Association, Stanford University, and The Hallelujah Church of Skokie. It's set up the same way and works the same way.
Surprised that non-profits invest cash? Sure they do. They love money as much as any of us, and they need to invest to make it through lean times when people aren't adding to their coffers.