A 401(k) plan is a retirement savings plan offered by many American employers that has tax advantages to the saver. It's named after section of U.S Internal Revenue Code, and it works like this; when an employee signs up for one they agree with their company on how much money from each paycheck should go into an investment account each month. The employer may match part or all of that contribution. This money is invested into among a number of investment options, usually mutual funds.
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