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401-k plan   Listen
401-k plan

noun
1.
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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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.  Synonym: 401-k.






WordNet 3.0 © 2010 Princeton University








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Words linked to "401-k plan" :   pension plan, pension account, retirement plan, retirement savings account, retirement account, retirement savings plan, retirement program



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