2006-12-21 05:27:00 · 8 answers · asked by Anonymous in Business & Finance ➔ Investing
401K just stands for the area of the tax law that explains what a 401K is (It is 401 of the tax law subsection K). If you are a teacher you may have a 403B (again it just means 403 subsection B of the tax law).
2006-12-21 05:35:07 · answer #1 · answered by mldjay 5 · 2⤊ 0⤋
It's just a different type of 401. There are 401a, 403b, section 401c and 401K . They are basically the last three numbers in a set of numbers in a section of law.
It's real name is:
U.S. Law: Title 26, Subtitle A, Chapter 1, Subchapter D, Part I, Subpart A, Section 401
K is probably a subsection of 401 and other letters that are missing are from bills that didn't pass.
2006-12-21 05:48:53 · answer #2 · answered by gregory_dittman 7 · 0⤊ 0⤋
Section 401(k) of the Internal Revenue Code
2006-12-21 05:39:47 · answer #3 · answered by Ray 2 · 0⤊ 0⤋
The term "401(k)," a reference to an obscure provision of the U.S. Internal Revenue Code, has become so well-known that other countries are using it to describe similar legislation. For example, in October 2001, Japan adopted legislation allowing the creation of "Japan-version 401(k)" accounts even though no provision of the relevant Japanese codes is in fact called "section 401(k)."
2006-12-21 05:39:03 · answer #4 · answered by Brite Tiger 6 · 0⤊ 0⤋
Subsection K. Section 401, Subsection K.
2006-12-21 05:37:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
its the section of the taxcode you find the loophole that allows you to put money away without being taxed.
2006-12-21 05:35:30 · answer #6 · answered by Ronnie Gardocki 4 · 0⤊ 0⤋
kranberry
2006-12-21 05:34:02 · answer #7 · answered by Azathoth 2 · 0⤊ 2⤋
How do you not know that???
2006-12-21 05:29:23 · answer #8 · answered by Black D93 2 · 0⤊ 2⤋