401(k)

noun
\ ˌfȯr-(ˌ)ō-(ˌ)wən-ˈkā How to pronounce 401(k) (audio) \

Definition of 401(k)

: 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

First Known Use of 401(k)

1980, in the meaning defined above

History and Etymology for 401(k)

from the section of the Internal Revenue Code that established it

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Cite this Entry

“401(k).” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/401%28k%29. Accessed 4 Aug. 2021.

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More Definitions for 401(k)

401(k)

noun

English Language Learners Definition of 401(k)

US : a method by which the workers in a company can save money for their retirement by having an amount of money saved from their paychecks over a long period of time

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