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401(k)

[ fawr-oh-wuhn-key, fohr‐ ]
/ ˈfɔrˌoʊˈwʌnˈkeɪ, ˈfoʊr‐ /
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noun
a savings plan that allows employees to contribute a fixed amount of income to a retirement account and to defer taxes until withdrawal.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022
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