11/OUT/2012 2:53 AM
Best Answer - Chosen by Voters
The K is the section of the IRS code that it is derived from. Here is some more info:
The 401(k) plan is a type of retirement plan available in the United States. Named after a section of the 1978 Internal Revenue Code, a 401(k) is an employer-sponsored qualified retirement savings plan. It allows you to save for your retirement while deferring any immediate income taxes on the money you save or their respective earnings until withdrawn.
Comparable types of salary-deferral retirement plans include 403(b) plans covering workers in educational institutions, churches, public hospitals, and non-profit organizations and 401(a) and 457 plans which cover employees of state and local governments and certain tax-exempt entities.
Here is the most talked-about section of the code there, just to quench any possible
curiosity, tough it´s a long-winded legalese piece. Suffice to know that it has effects in the life of many a people in America.
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English Made in Brazil -- English, Portuguese, & contrastive linguistics
401(K) ????????? Fox Fox 10/OUT/2012, 9:09 PM
401(K) ????????? Tiago T. 10/OUT/2012, 11:18 PM
401(K) ????????? PPAULO 11/OUT/2012, 2:53 AM
401(K) ????????? Fran 11/OUT/2012, 2:41 PM
401(K) ????????? Fox Fox 13/OUT/2012, 12:45 PM
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