And what does perks mean?
Are there any other phrases that are used in the work place that you can tell me about?
2007-02-11 23:31:16 · 3 answers · asked by lacoste 3 in Business & Finance ➔ Careers & Employment
401k is a US government authorized savings plan. The employer sponsors the plan. Employees put money into investments selected by the employer. The money is tax-deferred. The earnings are tax-deferred. Generally, you have to leave the money in until age 59 1/2. Then you pay taxes on what you withdraw.
Perks are benefits that you get with the job. A perk for me was that I was assigned a company car and was allowed to use it for my personal use as well. Clerks in retail stores get discounts on merchandise that they buy in to store that employs them.
2007-02-11 23:47:40 · answer #1 · answered by regerugged 7 · 0⤊ 0⤋
401K is simply a number that identifies the thing in the Tax Code. Perk is short for perquisite. It's an extra like insurance, bonuses, even tips.
2007-02-12 07:45:28 · answer #2 · answered by Mike D. 3 · 0⤊ 0⤋
it is the section of the u.s tax code that authorizes the retirement funds that many of us have, being able to tax defer contributions, and all the associated aspects
2007-02-12 08:18:40 · answer #3 · answered by jim06744 5 · 0⤊ 0⤋