Glossary – letter A

401(k) plan – A 401(k) plan (sometimes written “401-K”) is a type of retirement plan that in its most common variation is both employer-sponsored and participant-directed. Named for a relevant section of the U.S. Internal Revenue Code, a 401(k) plan is tax-deferred and allows employees to divert a set monetary amount from their paychecks into their individual plan account.

All-Outcry Marketplace – An All-Outcry Marketplace is a place inside a stock, commodities, futures or options exchange where transactions are conducted. Before the advent of the electronic age, all exchanges were of this type. The archetypical image of an All-Outcry Marketplace is one of controlled chaos, with a mass of shouting, gesticulating traders milling about a “pit” inside the exchange.

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