401-k plan - 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn at which point they can be c
Synonyms: 401-k

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Note added at 2005-03-21 03:20:57 (GMT)
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http://dictionary.laborlawtalk.com/401-k_plan

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Note added at 2005-03-21 03:24:02 (GMT)
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401(k) plan
A defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar. Taking a distribution of the funds before a certain specified age will trigger a penalty tax. The name 401(k) comes from the IRS section describing the program.

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