- qualified plan
Category: Business, LLCs & CorporationsCategory: Personal Finance & Retirement
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- qualified plan
USAAn employee pension benefit plan that meets the requirements of IRC Section 401(a) and is entitled to the following preferential tax treatment:• Contributions are currently deductible.• Participants are not currently taxed on their benefits.• The trust is not subject to taxation.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
qualified plan or trust — A tax deferred plan allowing employer and employee contributions that build up savings, which are paid out at retirement or on termination of employment. Tax is paid only when amounts are drawn from the trust. Bloomberg Financial Dictionary … Financial and business terms
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qualified retirement plan — A retirement plan that meets certain requirements under the Internal Revenue Code and is thus eligible for special tax considerations and benefits. Often, the plan allows employers to make tax deductible contributions on behalf of eligible… … Law dictionary