401-k vs pension plan
pension plan vs 401-k401-k and pension plan both are nouns.
| Word | Noun | Adjective | Verb | Adverb |
|---|---|---|---|---|
| 401-k | Yes | No | No | No |
| pension plan | Yes | No | No | No |
As nouns,
pension plan is a hypernym of
401-k; that is, pension plan is a
word with a broader meaning than 401-k:
- 401-k: a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
- pension plan: a plan for setting aside money to be spent after retirement
Other hypernyms of 401-k include
pension account, retirement account, retirement plan, retirement program, retirement savings account, retirement savings plan.
| 401-k (noun) | pension plan (noun) |
|---|---|
| a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself | a plan for setting aside money to be spent after retirement |
Words related to "401-k"
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