401(k)

[ fawr-oh-wuhn-key, fohr‑ ]

noun

1. a savings plan that allows employees to contribute a fixed amount of income to a retirement account and to defer taxes until withdrawal.

Example Sentences

In order to fix the company's financial dilemma — Poynter reported that the company laid off more than 600 people, forced furloughs and suspended 401 K contributions.

From Salon

When one victim texted to ask whether to pull funds from a cash advance or a 401K, Gracey responded: “I’d say go for the credit card, line of credit, then the loan. And move on your 401 K.”

From Seattle Times

“SoHo. I was in this start up and the company went bust. I had to empty my 401 K to be able to move in here.”

From New York Times

The indictment said the money was supposed to pay federal taxes, fund 401 K plans and pay medical and prescription drug benefits of employees who worked for Sommet Group’s clients.

From Washington Times

An indictment said Whitfield used money for his personal benefit that was supposed to pay federal taxes, fund 401 K plans and pay medical and prescription drug benefits of employees for Sommet Group’s clients.

From Washington Times