What is the meaning of 401-k plan?

noun

  • 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent.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).
WordNet 3.0 © 2006 by Princeton University
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APAWordNet. (2010). 401-k plan. Retrieved September 21, 2026, from http://smartdefine.org/401-k_plan/definitions/1214583
ChicagoWordNet. 2010. "401-k plan" http://smartdefine.org/401-k_plan/definitions/1214583 (accessed September 21, 2026).
HarvardWordNet 2010, 401-k plan, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/401-k_plan/definitions/1214583>.
MLAWordNet. "401-k plan" 23 October 2010. Web. 21 September 2026. <http://smartdefine.org/401-k_plan/definitions/1214583>