401 (K) PLAN
Financial Dictionary — Pensions & Payroll
Definition
is a retirement plan in the United States that allows qualified employees to contribute money from their paychecks into a tax-sheltered account.
Use cases, Example & Why it matters
Use cases
- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.
- Used when training staff or documenting procedures and policies.
Example
- Example: Teams reference **401 (K) PLAN** when defining terms in manuals, policies, or training materials.
Why it matters
- Why it matters: Improves clarity and consistency across documentation and decision-making.