qualified plan

(redirected from Qualified Pension 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 ?
In addition to making sizable discretionary contributions, HRS has been de-risking the portfolio of qualified pension plan assets over the past several years, and Fitch expects the trend will continue.
The loss for the quarter and lower earnings for the year ended December 31, 2016 were primarily attributable to the Bank's settlement of its qualified pension plan liability during the quarter, as described below.
In the lawsuit evoking this ruling, a broker/dealer (B/D) that provided services to a qualified pension plan purchased interests in certain properties, at the direction of an unrelated fiduciary, in an arrangement that constituted a prohibited transaction.
qualified pension plan (the Plan ), the Company has entered into an agreement (the Agreement ) with Principal Life Insurance Company ( The Principal ).
A fully insured qualified pension plan, the 412(i) is exempt from the complex IRC Section 412 funding rules that apply to all other defined benefit plans.
Upon retirement under a qualified pension plan, married workers and their spouses are often faced with making a difficult decision regarding the desired payout election.
In private letter rulings 200342007 and 200426027, the service said "the general anti-alienation rule of IRC section 401 (a)(13) does not preclude a court's garnishing the account balance of a fined participant in a qualified pension plan in order to collect a fine imposed in a federal criminal action" The IRS cited favorably three recent federal district court cases that concluded that ERISA plans were subject to garnishment to satisfy criminal fines under the Federal Debt Collection Procedures Act of 1977 (FDCPA).
Frequently used by qualified pension plan administrators and municipalities to fund debt.
said it posted the special loss due to a three-year restructuring program that includes the conversion of its tax qualified pension plan into a 401(k) pension plan and a workforce downsizing.
If you pull $10,000 from your qualified pension plan, you will face an automatic 10% penalty imposed by the federal government unless you meet several exceptions to this rule.
If the church provides a qualified pension plan, the employer's contributions for the benefit of the minister will not be subject either to income taxation[42] or to the self-employment tax.
The basic distinctions between ESOPs and non-ESOP stock bonus plans are twofold: (i) whereas a stock bonus plan may be primarily or fully invested in employer securities, and ESOP must be primarily invested in employer securities, and (ii) ESOPs may be leveraged and may receive credit from the sponsoring company, a feature which is not permitted to any other type of qualified pension plan.

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