Meaning of 401(K) in English


Pronunciation: ˌ fo ̇ r-( ˌ ) ō -( ˌ )w ə n- ' k ā

Function: noun

Etymology: from the section of the Internal Revenue Code that established it

Date: 1989

: a retirement account to which employee and employer contribute, on which taxes are deferred until withdrawal, and for which the employee usually selects the types of investments

Merriam Webster Collegiate English Dictionary.      Merriam Webster - Энциклопедический словарь английского языка.