401-K PLAN
(noun)Did you mean?
Definitions
There is 1 meaning of the phrase
401-K Plan.
401-K Plan - as a 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an ira; funds can be transferred if you change employers and you can (to some extent) manage the investments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
Synonyms (Exact Relations)
401-kExample Sentences
"I am considering enrolling in a 401-k plan for my retirement savings."
"Many companies offer a 401-k plan as part of their employee benefits package."
"Contributions to a 401-k plan are typically deducted from your salary before taxes."
"The 401-k plan allows individuals to invest in stocks, bonds, or mutual funds."
"Some employers match a percentage of their employees' contributions to the 401-k plan."
