| Part of Speech | Definition | |
| 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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.[Wordnet]. | |
Source: WordNet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | Top | |
Common Expressions: 401-k plan
| Expressions | Definition | ||
| 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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. Source: Wordnet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | ||
Source: compiled by the editor from various references; see credits. | Top | ||
