qualified plan

(redirected from Eligible Retirement Plan)

Qualified Plan

An annuity that one buys along with one's employer. That is, the annuitant and his/her employer both make tax-deferred contributions to the plan for a certain period, with withdrawals coming upon retirement. If the annuitant begins withdrawals before a certain age, withdrawal penalties apply. One may continue to make contributions until a certain age, usually around 65.

qualified plan

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.
References in periodicals archive ?
If the amount rolled over to an eligible retirement plan exceeds the portion of the pretax amount assigned or allocated to the plan, the excess is an after-tax amount.
402(c)(4)); (2) the employee transfers any portion of the property he or she receives in that distribution to an eligible retirement plan described in Sec.
A rollover occurs when you withdraw cash or other assets from one eligible retirement plan and contribute all or part of it within 60 days to another eligible retirement plan.
3) For purposes of this article, the term "conversion" is used to mean qualified rollover contributions from an eligible retirement plan to a Roth IRA, as described in [section]408A(e)(1).
If E receives the distribution, it is not subject to withholding and E can roll it over by contributing it to an eligible retirement plan within 60 days of the distribution.
The company operates the only independent, objective platform that uses a patented process to match eligible retirement plan participants with top-tier financial institutions offering Rollover IRAs, including Ariel Mutual Funds, Oppenheimer Funds, Fidelity Investments, Wachovia Securities, Charles Schwab, American Century and Neuberger Berman.
It applies to certain distributions rolled over to an eligible retirement plan (that is not an IRA).
A taxpayer may roll over all or part of a distribution from an eligible retirement plan to a Roth IRA (a conversion transaction) either by a direct rollover to the Roth IRA or by rolling over the amount received within 60 days.
In order to be excluded from income, premiums need to be deducted from the distributions from the eligible retirement plan and paid directly to the insurer.
1, 2007, from an eligible retirement plan such as a qualified plan or an IRA, to an eligible individual--one whose principal residence was in the Hurricane Katrina disaster area on Aug.
Qualified taxpayers can claim the Saver's Credit for up to half of what they contribute to an IRA or other eligible retirement plan, up to $1,000 (or $2,000 for joint filers), while other taxpayers are eligible for incentives linked to catching up on retirement savings later in life.
Under this provision, a direct trustee-to-trustee transfer of a distribution from an eligible retirement plan to an IRA established for the purpose of receiving the distribution on behalf of a designated nonspouse beneficiary is treated as a direct rollover of an eligible rollover distribution for purposes of Sec.