{"id":3806,"date":"2022-01-07T13:07:27","date_gmt":"2022-01-07T13:07:27","guid":{"rendered":"http:\/\/43.204.200.242\/hr-glossary\/401k-plan\/"},"modified":"2022-05-16T13:18:59","modified_gmt":"2022-05-16T07:48:59","slug":"401k-plan","status":"publish","type":"hr-glossary","link":"https:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan","title":{"rendered":"401(k) Plan"},"content":{"rendered":"

A 401(k) plan is a type of retirement plan that allows employees to save for retirement by reducing their income taxes through contributions made by their employer. The plan may be set up as an individual account under which the employee makes contributions directly, or it may require employer matching funds. In most cases, a 401(k) plan requires that employees must be at least age 21 and must work for their employer for at least one year.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-3806","hr-glossary","type-hr-glossary","status-publish","hentry"],"acf":[],"yoast_head":"\nWhat is 401(k) plan? | Definition & Meaning | Akrivia HCM<\/title>\n<meta name=\"description\" content=\"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"401(k) Plan\" \/>\n<meta property=\"og:description\" content=\"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan\" \/>\n<meta property=\"og:site_name\" content=\"Akrivia HCM\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AkriviaHCM\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-16T07:48:59+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@AkriviaHCM\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/401k-plan\",\"url\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/401k-plan\",\"name\":\"What is 401(k) plan? | Definition & Meaning | Akrivia HCM\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#website\"},\"datePublished\":\"2022-01-07T13:07:27+00:00\",\"dateModified\":\"2022-05-16T07:48:59+00:00\",\"description\":\"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.\",\"breadcrumb\":{\"@id\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/401k-plan#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/401k-plan\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/401k-plan#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/akriviahcm.com\\\/resources\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"401(k) Plan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#website\",\"url\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/\",\"name\":\"Akrivia HCM\",\"description\":\"Hire to Retire HCM Suite\",\"publisher\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#organization\"},\"alternateName\":\"Akriviahcm.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#organization\",\"name\":\"Akrivia HCM\",\"url\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\",\"contentUrl\":\"\",\"caption\":\"Akrivia HCM\"},\"image\":{\"@id\":\"https:\\\/\\\/akriviahcm.com\\\/resources\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/AkriviaHCM\",\"https:\\\/\\\/x.com\\\/AkriviaHCM\",\"https:\\\/\\\/instagram.com\\\/akriviahcm\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/akrivia-hcm\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What is 401(k) plan? | Definition & Meaning | Akrivia HCM","description":"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan","og_locale":"en_US","og_type":"article","og_title":"401(k) Plan","og_description":"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.","og_url":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan","og_site_name":"Akrivia HCM","article_publisher":"https:\/\/www.facebook.com\/AkriviaHCM","article_modified_time":"2022-05-16T07:48:59+00:00","twitter_card":"summary_large_image","twitter_site":"@AkriviaHCM","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan","url":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan","name":"What is 401(k) plan? | Definition & Meaning | Akrivia HCM","isPartOf":{"@id":"https:\/\/akriviahcm.com\/resources\/#website"},"datePublished":"2022-01-07T13:07:27+00:00","dateModified":"2022-05-16T07:48:59+00:00","description":"401(k) Plan is a dedicated retirement savings plan with tax benefits intended to supplement your other sources of retirement savings.","breadcrumb":{"@id":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/akriviahcm.com\/resources\/hr-glossary\/401k-plan#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/akriviahcm.com\/resources"},{"@type":"ListItem","position":2,"name":"401(k) Plan"}]},{"@type":"WebSite","@id":"https:\/\/akriviahcm.com\/resources\/#website","url":"https:\/\/akriviahcm.com\/resources\/","name":"Akrivia HCM","description":"Hire to Retire HCM Suite","publisher":{"@id":"https:\/\/akriviahcm.com\/resources\/#organization"},"alternateName":"Akriviahcm.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/akriviahcm.com\/resources\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/akriviahcm.com\/resources\/#organization","name":"Akrivia HCM","url":"https:\/\/akriviahcm.com\/resources\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/akriviahcm.com\/resources\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"Akrivia HCM"},"image":{"@id":"https:\/\/akriviahcm.com\/resources\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AkriviaHCM","https:\/\/x.com\/AkriviaHCM","https:\/\/instagram.com\/akriviahcm\/","https:\/\/www.linkedin.com\/company\/akrivia-hcm\/"]}]}},"_links":{"self":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/hr-glossary\/3806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/hr-glossary"}],"about":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/types\/hr-glossary"}],"wp:attachment":[{"href":"https:\/\/akriviahcm.com\/resources\/wp-json\/wp\/v2\/media?parent=3806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}