What does 401(k) mean?
Definitions for 401(k)
ˈfɔrˌoʊˈwʌnˈkeɪ, ˈfoʊr-401(k)
This dictionary definitions page includes all the possible meanings, example usage and translations of the word 401(k).
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Wikipedia
401(k)
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. Periodical employee contributions come directly out of their paychecks, and may be matched by the employer. This legal option is what makes 401(k) plans attractive to employees, and many employers offer this option to their (full-time) workers. There are two types: traditional and Roth 401(k). For Roth accounts, contributions and withdrawals have no impact on income tax. For traditional accounts, contributions may be deducted from taxable income and withdrawals are added to taxable income. There are limits to contributions, rules governing withdrawals and possible penalties. The benefit of the Roth account is from tax-free capital gains. The net benefit of the traditional account is the sum of (1) a possible bonus (or penalty) from withdrawals at tax rates lower (or higher) than at contribution, and (2) the impact on qualification for other income-tested programs from contributions and withdrawals reducing and adding to taxable income, minus the consequences of capital gains being taxed at regular income rates.As of 2019, 401(k) plans had US$6.4 trillion in assets.
Wikidata
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.
Numerology
Chaldean Numerology
The numerical value of 401(k) in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of 401(k) in Pythagorean Numerology is: 2
Examples of 401(k) in a Sentence
The lifetime income disclosure is critical for improving financial literacy, today's 401(k) statement just tells you how much is in your account - and for most people it's more than they've ever seen in their lifetime in one place, so they think they are rich. But when you see what that will generate in income, it's a real wake-up call.
Contribute to your 401( k) and push your withholding up to 8 % or 10 % from 6 % or 7 %, your paycheck doesn't go down a lot when you do, but it will add up a lot down the road because of compound interest.
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).
You can tell HR, I want to put 50 percent of my (extra) paycheck into my 401(k). It's usually pretty flexible, you can even have a whole paycheck go in and then be done contributing for the year.
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.
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"401(k)." Definitions.net. STANDS4 LLC, 2024. Web. 4 May 2024. <https://www.definitions.net/definition/401%28k%29>.
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