Definitions for "Qualified Plan"
Related Terms:
Qualified retirement plan, Non-qualified plan, Nonqualified deferred compensation plan, Qualified pension plan, Nonqualified plan, Salary reduction plan, Non-qualified retirement plan, Active participant, Rpp, Registered pension plan, Deferred compensation plan, Section 401 plan, Keogh plan, Retirement plan, Sep, Keogh, Simplified employee pension plan, Plan , Simple ira, Cash or deferred arrangement, Contribution, Simplified employee pension, Personal pension, Additional voluntary contributions, Money purchase pension plan, Personal pension plan, Pension plan, Group rrsp, Furbs, Tda , Defined contribution plan, Defined-contribution plan, Savings incentive match plan for employees, Defined contribution, Pension adjustment, Elective deferral, Defined contribution pension plan, Deferred member, Occupational pension, Deferred profit sharing plan, Pension scheme, Thrift plan, Pension, Qualified annuity, Serps, Direct rollover, Defined-benefit plan, Superannuation guarantee, Employee contribution, Defined benefit pension plan
Employee benefit plan, trust or other arrangement providing retirement benefits. Receives favored tax treatment under IRS Code.
A tax-deferred savings plan, such as a profit-sharing or a pension plan, or individual retirement account (IRA).
A retirement plan under which contributions by the employer are allowed as a deduction from taxable income, and which provides that the deposits for employees' future benefits are not to be considered as taxable income to them in the year in which they are made.
A defined benefit or defined contribution pension plan covered by ERISA and IRS regulations qualifying for certain tax advantages for both the employer and the participant.
A plan that meets the formal qualification requirements of Code Section 401(a).
Type of Defined Benefit and/or Defined Contribution Plan that meets the IRS Code and ERISA requirements, and receives special tax treatment. Plans allow employers to deduct annual allowable contributions for each employee participant; contributions and earnings on those contributions are tax-deferred until withdrawn for each employee participant.
(See: qualified trust and qualified pension plan.)
In the United States, a pension plan or employee-benefit plan which meets a series of federal government requirements and is therefore eligible for certain tax advantages.----------[ Back
A plan that meets the requirements of the Internal Revenue Code (generally Section 401(a) ). The advantage of qualification is that the plan is eligible for special tax considerations. For example, employers are permitted to deduct contributions to the plan although the benefits provided under the plan are deferred to a later date.
pension plan that complies with all relevant federal statutes, enabling the plan provider to take advantage of certain tax benefits.
Any employee benefit plan that is qualified by the IRS as a tax-exempt plan. Among other requirements, the plan's assets must be placed in trust for the sole benefit of the employees covered by the plan. [Go to source
A QUALIFIED PLAN is an EMPLOYEE BENEFIT PLAN that meets certain requirements under the Internal Revenue Code. Specifically defined in Rule 16b-3, it must meet the coverage and participation requirements of Sections 410 and 401(1)(26).
An employer-sponsored tax-deferred employee benefit plan that meets the standards of the Internal Revenue Code of 1954 and that qualifies for favorable tax treatment. Contributions by an employer and an employee accumulate without being taxed until payouts are made at the employee's retirement or termination.
A retirement or profit-sharing plan for employees that meets the requirements of the tax law for qualification, and is therefore eligible for certain tax benefits.
a great way to retain and attract valuable employees
a plan that meets the requirements discussed later under Qualification Rules
a program established under the Internal Revenue Code by an employer to provide retirement income for employees
a retirement plan that is qualified as such under the U
a retirement plan that meets the government's minimum requirements for qualification for special federal income tax benefits for the sponsoring employer and the participating employees
a retirement savings plan which can be created by either an employer or an individual as set forth by federal regulations
An employee benefit plan that meets Internal Revenue Code requirements. Employer contributions to such plans are immediately deductible by the employer, and contributions to and earnings in such plans are not included in the employee's or beneficiary's income until actually distributed to the recipient.
Plans that qualify for favorable tax treatment under the Internal Revenue Code, and are subject to restrictive rules and extensive regulations. Qualified plans are secured by a trust, as opposed to a nonqualified plan.
A plan that meets the requirements of Internal Revenue Code Section 401(a) and, therefore, provides special tax considerations to the plan sponsor, the trust and plan participants.
A plan that meets Internal Revenue Code and IRS regulatory requirements that entitles the employer to an immediate tax deduction when benefits are funded. Rebalancing - A process by which the system will automatically create transfers between investment funds to achieve the desired asset allocation. Rebalancing can be executed a single time, or established so that transfers will automatically occur at certain dates.
A tax-deferred retirement plan for the self-employed.
An employee benefit plan that meets Internal Revenue Code requirements. Employer contributions to such plans are immediately deductible. Contributions to and earnings in such plans are not included in the employee's income until distributed to the employee. Also known as tax-qualified plan.
A benefit plan that meets IRS qualification requirements for tax-favored treatment (i.e., nondiscrimination).
A retirement plan that meets the requirements of Internal Revenue Code Section 401(a), making it eligible for favorable tax treatment. (See: nonqualified plan.)
A plan that complies with the rules set forth in the Internal Revenue Code.
Tax-sheltered plan that can accept funds from STRS Ohio without a tax liability to the member or beneficiary.
Retirement savings plan meeting federal tax law specifications for tax deferral.
A tax-deferred plan set up by an employer for employees and qualifies for federal tax preferences. Such plans usually provide for employer contributions, i.e. profit sharing or pension plans, and may also allow employee contributions. Because these plans are designed to build retirement savings, employees pay taxes only when they withdraw the money. Participants may receive certain deductions and other tax benefits when they make contributions.
Is a retirement account or plan that meets tax law requirements which permit the deferment of tax and the tax-free accumulation or appreciation of assets held within the plan.
A retirement plan qualified under the Internal Revenue Code allowing GARS and its members certain tax advantages.
Refers to a retirement plan (such as a 401(k), 403(b), or 457) that qualifies for special tax treatment from the IRS. Go to Top
A qualified plan is one that complies with ERISA. It requires certain standards of vesting and accrual of benefits and compliance with "nondiscrimination rules." A qualified plan entitles the employer and its employees to the favorable tax treatment provided in the IRC.
a plan that is entitled to the tax benefits and protections of ERISA. In order to be “qualifiedâ€, a plan must: (1) have a written plan document, (2) be permanent, (3) communicate the provisions of the plan to eligible employees, (4) be established and operated for the exclusive benefit of plan participants or their beneficiaries, (5) have minimum participation (eligibility) standards, (6) be nondiscriminatory in coverage and contributions/benefits, and (7) have minimum vesting standards.
Any plan that qualifies for favorable tax treatment by meeting the requirements of section 401(a) of the Internal Revenue Code and by following applicable regulations. Includes 401(k) and deferred profit sharing plans.
A private retirement plan that meets the rules and regulations of the Internal Revenue Service. Contributions to such a plan are generally tax-deductible; earnings on such contributions are always tax sheltered until withdrawal.
An employee benefit plan which the Internal Revenue Service approves as meeting the requirements of ERISA and is entitled to certain tax advantages.
A written document containing operating rules and features for the exclusive benefit of participants and beneficiaries which satisfies the requirements of Section 401(a) of the Internal Revenue Code.
A qualified plan is one that meets certain requirements and, thereby, qualifies for a current income tax deduction for contributions made to it.
A retirement plan that meets requirements established by the Internal Revenue Code and Department of Labor and that is therefore entitled to certain tax advantages.
A pension meeting the requirements of Section 401(a) of the Internal Revenue Code, and eligible for tax-favored treatment.
A retirement plan (or annuity) into which tax deductible contributions are made and invested. The investment's earnings are tax deferred. Taxes are paid only when money is withdrawn. Keogh Plans, IRA's, and most corporate pension plans are qualified.
A retirement or profit-sharing plan that meets requirements about who must be covered, the amount of benefits that are paid, information that must be given to plan participants, etc. Qualified plans are entitled to tax benefits unavailable to nonqualified plans.
An employee-sponsored, government-approved plan in which none of the employer's contributions are taxed until withdrawn.
Retirement plan qualifying for special tax treatment under ERISA.
Contracts that do qualify for special tax treatment, such as 403(b) plans, TSA or TDA where employers deduct contributions before tax deductions are made.
An annuity used in connection with a tax-deferred retirement plan such as a 401(k) plan.
a retirement plan, such as a 401(k) or KEOGH, allowing a client to shelter investment income
A plan which the Internal Revenue Service approves as meeting the requirements of Section 401(a) of the 1954 Internal Revenue Code. These plans receive tax advantages.