Definitions

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There is currently 1 in this directory beginning with the letter #.
401(k)
This is a Qualified Defined Contribution Plan. An employee may contribute each year up to the I.R.S. permitted annual maximum. In some forms of this plan there are employer contributions. The contributions are made pre-tax and are taxed upon distribution to the employee. The employee has the right to "rollover" all or a portion of the contributions to an I.R.A.