401-k plan
Word Rarity
Rare
Frequency: 3.23 in modern English
11
Scrabble Score
5
Letters
3
Syllables
5
Unique Chars
Meaning
n
a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself