Saturday, January 19, 2008

401K Clarification

Thanks for your comment Flora.

A 401k plan in the United States is a retirement account. 401k is the tax code that defines this type of plan for private corporations. For public institutions such as schools and colleges, its a 503b retirement plan. 401k plan should not be confused with $401,000. I wish I had this much in my 401k plan.

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