401(k) retirement account

Discussion in 'English Only' started by Vanda, Aug 4, 2008.

  1. Vanda

    Vanda Moderesa de Beagá

    Belo Horizonte, BRASIL
    Português/ Brasil
    Hello all!

    What is the meaning of this k in this sentence:
    The husband has a 401(k) retirement account amounting to $610,000 and the wife has two small pension funds amounting to $72,000.
     
  2. Diddy

    Diddy Senior Member

    Spanish
  3. panjandrum

    panjandrum Occasional Moderator

    Belfast, Ireland
    English-Ireland (top end)
    The 401(k) plan is a type of employer-sponsored defined contributionretirement plan under section 401(k) of the Internal Revenue Code (26 U.S.C.§ 401(k)) in the United States, and some other countries.

    SShhh whisper - it's all in wiki HERE.
     
  4. Vanda

    Vanda Moderesa de Beagá

    Belo Horizonte, BRASIL
    Português/ Brasil
    Thank you very much, good people! I had searched for it but all I got was this page. So I gave up.:eek:
     
  5. GreenWhiteBlue

    GreenWhiteBlue Senior Member

    The City of New York
    USA - English
    Look here:
    http://en.wikipedia.org/wiki/401(k)

    EDIT: How odd. Well, when you get that page again, add the final parenthesis to the (k) yourself.

    The (k) refers to the applicable section of the Tax Code. There is a section 401 (a), and 401 (b), and 401 (c), and so on. This type of plan is described in section 401 (k).
     

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