来自《耶鲁大学开放课程：金融市场 第18集 第18集》

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  with the advent of what was called 401(K) plans.
  出台了401(K)计划
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  401(K) is a paragraph in the Internal Revenue Service Code--
  401(K)是家税务局法规中的一节
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  that's the tax--that's the IRS,
  关于税务...简称IRS
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  the agency of the government that taxes everyone.
  它是向每个人征税的政府机构
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  Section 401(K) of the IRS Code defined
  IRS法规401(K)款项规定
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  circumstances in which money held in trusts for others might not be taxable.
  作为信托部分的资金不必缴纳税金
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  In 1981, for the first time, a company invoked this clause
  1981年 一家公司第一次援引此项条款
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  to ask that the defined contribution plan
  他们要求为自己制定的
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  that they were setting up would not be taxed.
  固定缴款计划免税
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  Well actually, to make it clear, what it would be is
  实际上 说得更明白点 这件事就是
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  if the employer or employee made contributions to the plan,
  如果雇主或者员工向该计划缴款
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  then there would be no tax--
  就不用交这部分的税...