qualified plan

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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 ?
THE DEPARTMENT OF LABOR is currently working on final regulations regarding default investment options in tax qualified plans subject to the Employment Retirement Income Security Act of 1974.
The unintended consequence of this would be to create "churning" in the market by encouraging consumers to drop their pre-HIPAA coverage and buy post-HIPAA tax qualified plans, at their current age, which would likely cost more.
The IRS consolidated four correction programs for tax qualified plans into a single Employee Plans Compliance Resolution System (EPCRS).
He will specialize in healthcare plan design, tax qualified plans, pension plan structuring and compensation agreements.