401-k — synonyms, definition

1. 401-k (Noun)

401-k plan

401-k (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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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.

pension account pension plan retirement account retirement plan retirement program retirement savings account retirement savings plan