401(k) plan

Definition of "401(k) plan"
  1. A program where an individual can choose to set aside a portion of their income before taxes into a fund for future use after retirement
How to use "401(k) plan" in a sentence
  1. Upon starting her new job, she opted to contribute to the company's 401(k) plan to save for her retirement.
  2. His employer matches any contributions he makes to the 401(k) plan up to 3% of his salary.
  3. It's important to understand the investment options within your 401(k) plan to ensure you're saving efficiently for retirement.

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