MLchartDataset catalogue

401(k) plan

Term · Insurance and risk management · MLC-T-INS-000275

A defined contribution retirement plan offered by employers that allows employees to save and invest a portion of their paycheck before taxes are taken out. Contributions and earnings grow tax-deferred until withdrawal in retirement. Many employers offer matching contributions, and the plan is governed by the Employee Retirement Income Security Act (ERISA).

Table 1. Record
IdentifierMLC-T-INS-000275
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000275",
  "term": "401(k) plan",
  "field": "Insurance and risk management",
  "definition": "A defined contribution retirement plan offered by employers that allows employees to save and invest a portion of their paycheck before taxes are taken out. Contributions and earnings grow tax-deferred until withdrawal in retirement. Many employers offer matching contributions, and the plan is governed by the Employee Retirement Income Security Act (ERISA).",
  "url": "https://mlchart.com/terminology/insurance/401-k-plan/"
}

Record 4 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.