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    phlanx's Avatar
    phlanx Posts: 213, Reputation: 13
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    #1

    Oct 18, 2009, 03:59 PM
    Im English - What is a 401k
    Hello

    The term 401k keeps popping up in movies and Tv shows -what is this please?
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    Oct 18, 2009, 04:10 PM

    Wikpedia reference will explain:

    En.wikipedia.org/wiki/401(k)
    J_9's Avatar
    J_9 Posts: 40,298, Reputation: 5646
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    #3

    Oct 18, 2009, 04:10 PM
    In short, from a mad woman, it's a retirement saving program.

    From Wiki...
    In the United States of America, a 401(k) plan allows a worker to save for retirement and have the savings invested while deferring current income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or "deferred," into his or her 401(k) account. This deferment is also known as a "contribution".
    http://en.wikipedia.org/wiki/401(k)
    phlanx's Avatar
    phlanx Posts: 213, Reputation: 13
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    #4

    Oct 18, 2009, 04:16 PM

    Ahhh, been wondering for a while now and heard it again tonight so I thought I would ask for the cultural translation thanks people
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