In the United States, a 401(k) plan is an employer sponsored defined contribution personal pension savings account, defined in subsection 401(k) of the U.S. Internal Revenue Code. Employee contributions come directly out of paychecks and may be matched by the employer, and this pre tax option is what makes traditional 401(k) plans attractive, with many employers offering it to their full time workers.
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A 401(k) is a United States employer-sponsored retirement savings plan, a core personal-finance and retirement-planning product studied within finance practice.
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1. 401(k) (Wikipedia)
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In the United States, a 401(k) plan is an employer-sponsored defined-contribution personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code.
Wikidata: 401(k)
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