401-k plan - definitions and synonyms

401-k plan noun

  1. English Meaning: 

    : 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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



Usage Examples:

  • He had workers tear down many of the railings and generally open the floor plan.