Government-Regulated Defined Contribution Account

Identification

IRI:

https://folio.openlegalstandard.org/RGkDyYmOTwUEstuQWdgGzo

Label Government-Regulated Defined Contribution Account

Preferred Label 401(k) Account

Identifier N/A

Alternative Labels

TSP Thrift Savings Plan

Definition

A Government-Regulated Defined Contribution Account, such as a 401(k) or Thrift Savings Plan, is a retirement savings account where an individual contributes a fixed amount or a percentage of their salary into a fund. The government regulates these accounts to provide tax advantages, and the ultimate benefit received is dependent on the performance of the investments chosen within the account.

Class Relationships

Sub Class Of

• Employer-Sponsored Retirement Account

Is Defined By

N/A

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Additional Information

Metadata

Comment

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Description

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Notes

• None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available