My question pertains to "retirement income accounts" for churches.
IRS Publication 571 says:
A TSA plan can invest funds for participating employees in:
€ Annuity contracts
€ Custodial accounts holding mutual fund shares, or
€ RETIREMENT INCOME ACCOUNTS (defined-contribution plans maintained by churches or certain church-related organizations.
What exactly is a retirement income account? What can they invest in? Is it just for churches? How is different than the 403(b)or 403(B)(7) plans?
Thank you for your time and consideration.