401(k)

Rarity: Common

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Notion

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Science and technology

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What Wikipedia says

In the United States, a 401(k) plan is an employer-sponsored defined-contribution personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodic employee contributions come directly out of their paychecks, and may be matched by the employer.

Excerpt from the Wikipedia article “401(k)”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: BlairSnow, CC BY-SA 3.0, via Wikimedia Commons.