Yes, you will save for retirement while getting a deduction on your taxes. Make sure that when contributions are made to your account that they are on a deductible basis which you would do with your employer. These deductions are on a calendar year basis.
Are 403(b) Contributions Tax Deductible? - TurboTax Tax Tips & Videos (intuit.com)
"Generally speaking, only your employer can make contributions to your 403(b) account. As with a 401(k) plan, if you participate in a 403(b) plan your employer will take money out of your paycheck before you receive it and deposit it into your 403(b) plan account. This is known as an elective deferral.
Since you do not report the amount of the deposit as taxable income on your income tax, it effectively works like a tax deduction. If your employer makes matching or other additional deposits to your account, those are also tax-deferred."
