401(k)

noun

ˌfȯr-(ˌ)ō-(ˌ)wən-ˈkā 

: a retirement account to which employee and employer contribute, on which taxes are deferred until withdrawal, and for which the employee usually selects the types of investments

Word History

Etymology

from the section of the Internal Revenue Code that established it

First Known Use

1980, in the meaning defined above