In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code.
Under the plan, retirement savings contributions are provided (and sometimes proportionately matched) by an employer, deducted from the employee’s paycheck before taxation (therefore tax-deferred until withdrawn after retirement or as otherwise permitted by applicable law), and limited to a maximum pre-tax annual contribution of $18,000 (as of 2015).
These plans are all established under section 401(a) of the Internal Revenue Code. 401(a) plans may provide total annual addition of $52,000 (as of 2014) per plan participant, including both employee and employer contributions.
A 401(K) can be rolled over into a gold IRA. You would of course need to speak to one of the best gold ira companies on the market, to ensure this was done correctly for you, if this was your option for diversifying your retirement plan.