401(k) plan
- 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
- Upon starting her new job, she opted to contribute to the company's 401(k) plan to save for her retirement.
- His employer matches any contributions he makes to the 401(k) plan up to 3% of his salary.
- 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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