Definitions for 401(k)ˈfɔrˌoʊˈwʌnˈkeɪ, ˈfoʊr-
This page provides all possible meanings and translations of the word 401(k)
A 401(k) plan is the common name in the USA for the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Taxation Code. Under the plan, retirement savings contributions are provided by an employer, deducted from the employee's paycheck before taxation, and limited to a maximum pre-tax annual contribution of $17,500. Alternative employer-provided defined-contribution pensions include 403 and 401, offering higher mandatory limits.
Sample Sentences & Example Usage
When you take money out [of a 401(k)], that’s money that goes against getting a scholarship.
Some people turn off their 401(k) contributions immediately. They say I'm not going to put any more in.
Somebody earning $300,000 is still considering a 401(k) strategy, it's more about the tax benefit - not that they need to save more money.
The economic and financial news has been grim, things are now so bad that I actually open the Greenbook with greater trepidation than my 401(k).
The common wisdom is to withdraw money from the IRA or 401(k) last, but doing some of that in the early years - or doing some Roth conversion - can help.
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