Getting to know the 403(b) Financial planning expert Dr. James Philpot offers some insight. May 29, 2019 by University CommunicationsThe 403(b) is a retirement plan offered by nonprofit companies, charities and other tax-exempt organizations. How does it work? When should you open one? Dr. James Philpot, certified financial planner and associate professor of finance and general business at Missouri State University, answers these questions on U.S. News & World Report.