Meaning of “401(k) plan” in the English Dictionary

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"401(k) plan" in Business English

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401(k) plannoun [ C ]

uk us FINANCE, TAX

in the US, a system in which people who are working are allowed to pay part of their income into an investment account without paying tax on it until they take the money out as a pension

(Definition of “401(k) plan” from the Cambridge Business English Dictionary © Cambridge University Press)

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