qualified plan

(redirected from Qualified Annuity)

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 ?
E had a retirement account through an employer, which was a qualified annuity under Sec.
The taxable portion of such a gift will be minimal and the grantor will be able to replace or upgrade the residence at any time during the trust term or convert the interest into a qualified annuity.
2702(b), a qualified interest is (1) one that consists of a right to receive fixed amounts payable not less frequently than annually (a qualified annuity interest); (2) one that consists of a right--payable at least annually--to receive a fixed percentage of the trust corpus's net fair market value, determined annually (a qualified unitrust interest); and (3) a right to receive a non-contingent remainder interest if all the other interests in the trust are qualified annuity or unitrust interests (a qualified remainder interest).
AIG VALIC manages long-term, tax- qualified annuity and mutual-fund investment plans for more than 41,000 not- for-profit and for-profit education, healthcare, public sector and other organizations.
Meaning, if your client currently owns a non qualified annuity, he or she will need to exchange it for an eligible annuity with qualified LTC benefits to take advantage of this opportunity.
Horace Mann Life's ratings recognize its key role within HMEC and the benefits derived from HMEC's strong business franchise in the K-12 educators market and historical growth in the 403(b) tax qualified annuity market.
A transferred 11,400 shares of SCS nonvoting common stock to herself as trustee of the P qualified annuity trust, a grantor retained annuity trust (GRAT).
The claims paying ability ratings are based on AAG's established niche in the qualified annuity market, a consistent history of strong profitability, a solid capital position and relatively recent efforts to diversify its product offerings to include more traditional protection-oriented life products.
GAFRI has a successful niche in the qualified annuity market, particularly in the K-12 education market.
The governing instrument of the trust must meet a number of requirements, including a prohibition on additional contributions to the trust and distributions to or for the benefit of any person other than the holder of the qualified annuity interest.
The purchase expanded MetLife's efforts in the 403(b), 501(c) and 401(k) qualified annuity markets and adds alternative distribution of qualified and non-qualified annuities through banks.