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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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
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401-k plan::noun | Spocien Dictionary
| Type | Words |
|---|---|
| Synonyms | 401-k |
| Type of | pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account, retirement savings plan |
