Definitions for "prototype plan"
A retirement plan prepared by a bank, securities firm, or other financial institution that may be adopted by an employer.
A qualified retirement plan sponsored by a financial institution. It may be adopted by executing a written agreement. A prototype is generally more flexible than the IRS Form 5305 or 5305-A and may have additional special features. Also called a master pension plan.
A standardized form of pension or other employee-benefit plan developed to simplify plan drafting for plan sponsors. Similar to a master plan.----------[ Back
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