Glossary Term: 401(K) PLAN
Definition(s) for 401(K) PLAN:
1. ) An employer-sponsored retirement-savings plan funded by employees with contributions that are deducted from pre-tax pay. Employers frequently add matching contributions up to a set limit. Employees are responsible for managing the money themselves, allocating the funds among a selection of stock, bond and cash investment funds offered by the investment management company selected by the employer. Investment gains are not taxed until the money is withdrawn usually during retirement.
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Fund Letters
