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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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