“401(k) Plan” is a retirement savings plan sponsored by an Employer, which allows eligible Employees to save and invest a portion of their pre-tax salary or wages on a tax-deferred basis. There are annual limits on how much compensation can be deferred on a pre-tax basis, and the participating Employees do not have to pay any related taxes until they withdraw the invested money from their 401(k) Plan accounts.
401(k) Plan