401K

Variant of 401(k)

401(k) definition

401(k) (fôr′ō′wun′kā′)

noun pl. 401(k)s or 401(k)'s

  1. a type of retirement plan in which each eligible employee is allowed to put a percentage of wages or salary into a tax-deferred account that typically offers a variety of savings and investment options
  2. such an account

Etymology: < designation of section of U.S. Internal Revenue Code on which it is based

Also written 401(K), 401K

Webster's New World College Dictionary Copyright © 2009 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

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