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Random Term
401k

Technically written as 401(k), and known in full as a Section 401(k) plan, this is a tax-qualified defined contribution plan named after the Internal Revenue Code section that controls the program. Your company offers this plan to employees and allows you to defer income, up to specified limits, that can later be distributed in retirement. The various limits on these plans are a major reason companies set up nonqualified deferred compensation type plans.

Note: This website uses 401(k) rather than 401k, so searches for related content should use 401(k).