Qualified Retirement Plan
A plan that meets requirements of the Internal Revenue Code and as a result, is eligible to receive certain tax benefits. These plans must be for the exclusive benefit of employees or their beneficiaries. Investopedia Says:
There are two kinds of qualified plans: defined-benefit plans and defined-contribution plans.
Some examples of defined-contribution plans are 401(k) plans, money-purchase pension plan and profit-sharing plans. Related Terms:
401(k) Plan
Defined-Benefit Plan
Defined-Contribution Plan
Individual Retirement Account - IRA
Money-Purchase Pension Plan
Pension Plan
Plan Sponsor
Profit-Sharing Plan
SBO-401(k)
Tax-Sheltered Annuity |