401(k) Plan is a defined contribution plan where an employee can make contributions from his or her paycheck either before or after-tax, depending on the options offered in the plan. The contributions go into a 401(k) account, with the employee often choosing the investments based on options provided under the plan.
The Bank of Amsterdam (Dutch: Amsterdamsche Wisselbank or literally Amsterdam Exchange Bank) was an early bank, vouched for by the city of Amsterdam, established in 1609, the precursor to, if not the first, modern central bank.his credit was known as bank money. Being always in accord with mint standards, and always of the same value, bank money was worth more than real coinage. At the same time a new regulation was introduced; according to which all bills drawn at Amsterdam worth more than 600 guilders must be paid in bank money.
In the beginning, the Bank of Amsterdam did not perform a credit function; it was strictly a deposit bank, with all bank money backed 100 percent by specie.The administration of the Bank of Amsterdam was the charge of a small committee of city government officials.ne merchant could make a payment to another simply by arranging for his account at the bank to be debited and the counterpartyâs account to be credited. The Exchange Bank maintained something close to a 100 per cent ratio between its deposits and its reserves of precious metal and coin.