Synonyms and definition of the word or term
- S: (n) 401-k plan a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself.
- Find out more about 401-k on Wikipedia.
- Check out the etymology of 401-k on Etymonline.com.
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