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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. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401 (k) plans ...
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Steven Cliff, administrator of the National Highway Traffic Safety Administration (2022) [23] Eliot A. Cohen , Counselor of the U.S. Department of State (2007–2009) (Republican) [ 26 ] Frances Colón , Deputy Science and Technology Adviser to the Secretary of State (2008–2017) and member of the President's Council of Advisors on Science and ...
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Individual retirement account. An individual retirement account[1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
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