401-k

1 definition found

From WordNet (r) 2.0 [wn]:

  401-k
       n : 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           withdrawn at which point they can be converted into and


           IRA; funds can be transfered if you change employers and
           you can (to some extent) manage the investments yourself
           [syn: {401-k plan}]