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What is 'Subcontracting'. Subcontracting is the practice of assigning part of the obligations and tasks under a contract to another party known as a subcontractor. Subcontracting is especially prevalent in areas where complex projects are the norm, such as construction and information technology.
401(k) Plans. A 401(k) plan is one that allows employees to contribute a portion of their salary on a pre-tax basis. The employer may make additional contributions to the plan in the form of a matching contribution or non-elective contribution.