401(k)
401(k) — noun
1. A workplace retirement savings arrangement in the United States where an employe
A workplace retirement savings arrangement in the United States where an employee puts aside money from each paycheck before income tax is taken out, often with the employer adding extra funds, and where the combined savings grow through investments until the person retires and takes the money out.
Hana set aside six percent of each paycheck into her 401(k).
contribute + into + 401(k)
Kwame's employer matches 401(k) contributions dollar for dollar up to five percent.
employer + matches + 401(k) contributions
Elena checked her 401(k) balance and saw it had grown by eight percent.
Dimitri rolled his old 401(k) into an IRA when he changed jobs.
Ananya started contributing to a 401(k) during her first week at the hospital.
- IRA
An individual retirement account you open yourself, not tied to an employer
- Roth IRA
A type of individual retirement account funded with after-tax money, so withdrawals in retirement are tax-free
- 403(b)
A similar retirement plan but for employees of public schools and certain non-profit organisations
文法句型
contribute to a 401(k)
enroll in a 401(k)
401(k) + plan
401(k) + account
用法筆記
Specific to the United States. The name comes from section 401(k) of the Internal Revenue Code. Similar workplace retirement plans in other countries go by different names — for example, RRSP in Canada or superannuation in Australia.