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 American Retirement Association asked for relief for taxpayers who use savings from qualified retirement accounts to alleviate hardships from the hurricane, using IRS Announcement 2012-44 following Hurricane Sandy as a template.
Unlike IRAs and other qualified retirement accounts, there are few cap limits on IUL contributions.
Credit union financial advisers may be better positioned than others to adapt to the Department of Labor's controversial fiduciary standard for qualified retirement accounts, according to a study released by Kehrer Bielan Research & Consulting on Wednesday.
Held inside qualified retirement accounts, QLACs function as income management tools that repurpose required minimum distributions so that the account holder, rather than taking RMDs in lump sum starting at age 70.
Like other tax-advantaged vehicles, including qualified retirement accounts such as 401(k)s and 403(b)s, and individual retirement accounts, the inside build-up (cash value) of permanent life policies grows tax-deferred.
By virtue of these domestic relations law issues, judges issued rulings that attempted to balance the needs of the employees' former spouses and children with qualified retirement accounts against the plain language of ERISA.
Isaacs from his qualified retirement accounts (under IRC Section 4974).
Believe their tax bracket will be the same or higher in retirement, or more specifically, when they draw income from their qualified retirement accounts.
Money purchase pension plans and profit sharing plans build up similar qualified retirement accounts for employees, but without the employer guaranteed minimum investment return.
529 accounts as retirement accounts, thus gaining the tax benefits of qualified retirement accounts while avoiding their restrictions (JCT, Technical Explanation of H.
35 trillion tax cut that was signed into law in the summer of 2001--which, due to budget rules, will expire in 2011-contained gradual individual tax rate reductions, gradual increases in maximum contributions to qualified retirement accounts and a phase-out of the estate tax.
In addition, money in qualified retirement accounts such as 401(k)s is not counted among assets.

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