Definitions for 401-k plan
This page provides all possible meanings and translations of the word 401-k plan
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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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
Sample Sentences & Example Usage
The mutual fund industry supports these efforts and clear disclosure of all fees and expenses in connection with any rollover of assets from a 401(k) plan to an IRA.
If you’re thinking about borrowing from your 401(k) plan or any lending institution, be really strategic about your borrowing, understand why you think tapping into your 401(k) or borrowing money is important. Think about why you’re investing in your 401(k) in the first place. It’s because it’s a very efficient way to save for your retirement.
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