A retirement plan that does not qualify for the federal tax advantages received by qualified plans, but which, in turn, is subject to fewer restrictions regarding participants and contribution limits.
a retirement plan which is not subject to ERISA, and thus not required to accept QDROs
A pension plan that does not meet the requirements for preferential tax treatment. This type of plan allows an employer more flexibility and freedom with coverage requirements, benefit structures, and financing methods.
A plan that does not meet the requirements of Section 401(a) of the 1954 Internal Revenue Code and that, as a result, suffers distinct disadvantages from a tax viewpoint.
Any plan which does not meet IRS requirements for contributions to be a current tax deduction. Includes individually purchased annuities, deferred compensation and mutual fund accumulation plans.
A written plan that allows an employer to discriminate in favor of highly compensated employees.
contracts that do not quality for special tax treatment, such as CD's.
A retirement plan or an annuity in which contributions are made with after-tax dollars. The contributions are not tax deductible because the plan or annuity is not an IRS approved pension plan. However, just as with a Qualified Plan, earnings accumulate tax deferred until withdrawn. See: Annuity; Qualified Pension Plan or Trust
