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