What does 401-k plan mean?
Definitions for 401-k plan
401-k plan
This dictionary definitions page includes all the possible meanings, example usage and translations of the word 401-k plan.
Princeton's WordNet
401-k plan, 401-knoun
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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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
ChatGPT
401-k plan
A 401-k plan is a tax-deferred, defined-contribution retirement plan offered by many employers to their employees in the United States. The name comes from section 401(k) of the Internal Revenue Code, which permits employees to defer a portion of their income into this plan, often with matching contributions from the employer. The funds in a 401(k) plan are invested, and any earnings are also tax-deferred until withdrawal. The taxes are paid upon withdrawal in retirement.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of 401-k plan in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of 401-k plan in Pythagorean Numerology is: 9
Examples of 401-k plan in a Sentence
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.
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.
Translation
Find a translation for the 401-k plan definition in other languages:
Select another language:
- - Select -
- 简体中文 (Chinese - Simplified)
- 繁體中文 (Chinese - Traditional)
- Español (Spanish)
- Esperanto (Esperanto)
- 日本語 (Japanese)
- Português (Portuguese)
- Deutsch (German)
- العربية (Arabic)
- Français (French)
- Русский (Russian)
- ಕನ್ನಡ (Kannada)
- 한국어 (Korean)
- עברית (Hebrew)
- Gaeilge (Irish)
- Українська (Ukrainian)
- اردو (Urdu)
- Magyar (Hungarian)
- मानक हिन्दी (Hindi)
- Indonesia (Indonesian)
- Italiano (Italian)
- தமிழ் (Tamil)
- Türkçe (Turkish)
- తెలుగు (Telugu)
- ภาษาไทย (Thai)
- Tiếng Việt (Vietnamese)
- Čeština (Czech)
- Polski (Polish)
- Bahasa Indonesia (Indonesian)
- Românește (Romanian)
- Nederlands (Dutch)
- Ελληνικά (Greek)
- Latinum (Latin)
- Svenska (Swedish)
- Dansk (Danish)
- Suomi (Finnish)
- فارسی (Persian)
- ייִדיש (Yiddish)
- հայերեն (Armenian)
- Norsk (Norwegian)
- English (English)
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Citation
Use the citation below to add this definition to your bibliography:
Style:MLAChicagoAPA
"401-k plan." Definitions.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.definitions.net/definition/401-k+plan>.
Discuss these 401-k plan definitions with the community:
Report Comment
We're doing our best to make sure our content is useful, accurate and safe.
If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Attachment
You need to be logged in to favorite.
Log In