Wordnet 3.0
NOUN (1)
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contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA;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;
[syn: 401-k plan, 401-k]
WordNet (r) 3.0 (2006):
401-k plan
n 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taxes and the funds grow tax-free until they are withdrawn,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 [syn: 401-k plan,
401-k]