Main Entry:

401(k)

Pronunciation:

\ˌfȯr-(ˌ)ō-(ˌ)wən-ˈkā\

Function:

noun

Etymology:

from the section of the Internal Revenue Code that established it

Date:

1989

: a retirement account to which employee and employer contribute, on which taxes are deferred until withdrawal, and for which the employee usually selects the types of investments