Definition of 401-k
1. 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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.
Generic synonyms: Pension Account, Pension Plan, Retirement Account, Retirement Plan, Retirement Program, Retirement Savings Account, Retirement Savings Plan
Click the following link to bring up a new window with an automated collection of images related to the term: 401-k Images
Lexicographical Neighbors of 401-k
401-k (current term)
Literary usage of 401-k
Below you will find example usage of this term as found in modern and/or classical literature:
1. Private Pensions: Information on Cash Balance Pension Plans by Barbara D. Bovbjerg (2006)
"For example, some estimates suggest that a significant percentage of employees do not participate in their 401(k) program at all, and the majority of those ..."
2. Personal Finance by Robert S. Rosefsky (2002)
"The amount you can put into a 401 (k) plan was about $8000 per year in the late 1990s, ... The withdrawal restrictions for a 401 (k) plan are similar to, ..."