408(k) plan

Definition
A simpler alternative to a 401(k) plan available only to companies with 25 or fewer employees, which gives employees the opportunity to make contributions to their SEP accounts with pre-tax dollars and reduce their current year's net income. also called 408(k) plan. also called Salary Reduction Simplified Employee Pension (SARSEP) Plan.




408(k) plan is ...
... part of the
Retirement and Taxes subjects.


Related Terms

Salary Reduction Simplified Employee Pension Plan -  More
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