401-k

Noun

Meaning

a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself

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Examples

It is important to note, that your 401-K shares must be voted by 5 PM Eastern time on Sept. 24, which is this Friday. Source: Internet