401-k plan

Noun
  1. 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    Contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA;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 (synset 105920154)
    is a type of: pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account, retirement savings plan - a plan for setting aside money to be spent after retirement
    same as: 401-k

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