# Government-Regulated Defined Contribution Account

**IRI:** https://folio.openlegalstandard.org/RGkDyYmOTwUEstuQWdgGzo

## Labels

**Preferred Label:** 401(k) Account

**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.

## Sub Class Of

- https://folio.openlegalstandard.org/RC5149hM9Fi4iI1O8qYvP31

**Deprecated:** False