What refers to amounts contributed to a retirement plan by the employer at the employee's election?

The term that refers to amounts contributed to a retirement plan by the employer at the employee's election is elective deferrals. This designation is used specifically to describe contributions that employees choose to have deducted from their paychecks and allocated toward their retirement accounts.

When an employee opts to contribute a portion of their salary into a retirement plan, such as a 401(k), these contributions are known as elective deferrals. The employer may also make contributions based on the employee's deferral choices, which can enhance retirement savings. This mechanism gives employees the control to determine how much they wish to contribute toward their retirement while potentially benefiting from employer matching contributions.

Other options either do not capture the definition accurately or are broader terms that do not solely pertain to the concept of employee-driven contributions. For instance, employer contributions typically refer to amounts added by the employer regardless of the employee's choices, while pension contributions might imply a more traditional pension plan, which may not provide the flexibility associated with elective deferrals. Retirement savings is a general term that encompasses all savings for retirement, not specifically the contributions made at the employee's election.