qualified 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 ?
qualified plan by assignees should comply with the exclusive benefit rule if the foreign "home employer" (the organization that transfers assignees) or foreign "host employer" (the organization to which assignees are transferred) is a participating employer or in the same controlled group as one of the participating employers.
Dad's first major non qualified plan was written in 1973 with a Fortune 500 company.
NEW YORK, March 20 /PRNewswire/ -- JPMorgan Funds has announced that CPI Qualified Plan Consultants, Inc.
Put away as much as you can in your qualified plan because assets in qualified plans under ERISA are not subject to attachment.
After some minor edits, they distribute their RFP to qualified plan and nonqualified plan providers alike, often with only a one-week turnaround deadline.
Any outstanding loan from a qualified plan that had a required payment due date between August 25, 2005, and December 31, 2006, will have its due date delayed for one year.
For purposes of applying annual deduction and contribution limits as well as for nondiscrimination testing purposes, current law limits the annual compensation of each participant that may be taken into account under a qualified plan to $170,000.
Surely, even now, you can manage to put $1,000 a year into a tax qualified plan for retirement.
Since they are restricted to just a few employees, they generally are unfunded and are not required to comply with the regulations of a qualified plan.
Negrete came to SLW from M Advisory Group (formerly Cal-Surance in Torrance, CA) where he served as a Retirement Plan Advisor for many of their qualified plan clients.
Typically, the SERP's benefit formula will be the same as the qualified plan's, but will take into account compensation in excess of the maximum ($225,000 in 2007) that a qualified plan may consider.
Under the SCP, the sponsor of a qualified plan may correct an insignificant operational failure at any time, even if the plan or plan sponsor is under IRS examination.

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