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 ?
9 May 2017 - Arizona, US-based third party administrator of qualified retirement plans Pinnacle Plan Design, LLC has acquired Arizona, US-based actuarial consulting firm Kollman and Associates, Ltd.
An earlier IRS notice from 2014 did require qualified retirement plans to be amended to reflect the Windsor v.
For those clients who are eligible to take lump sum distributions from their qualified retirement plans, however, often overlooked considerations must be taken into account in order to take full advantage of the potential tax savings that can be realized if retirement plan assets include appreciated company stock.
Administrators of employee benefit plans, as well as qualified retirement plans should determine if they meet the definition of fiduciary.
QUALIFIED RETIREMENT PLANS THAT HAVE NOT BEEN properly updated or have not been operating according to plan provisions may be disqualified and, as a result, lose important tax benefits.
Investment Advisor (Shrewsbury, NJ), a magazine serving independent financial advisors published by Wicks Business Information, has launched Retirement Plan Advisor/Interactive Edition, a monthly e-newsletter focusing on the needs of readers who offer 401(k) and other qualified retirement plans to their clients.
The Treasury and IRS issued final regulations regarding minimum distribution rules for defined benefit plans and annuity products purchased with account balances in other types of qualified retirement plans and IRAs.
Establishing and maintaining qualified retirement plans is very costly for employers.
New tax laws require all qualified retirement plans to be restated.
Even though qualified retirement plans are subject to numerous pension law protections (namely, the Employee Retirement Income Security Act of 1974, more commonly known as ERISA), individuals often prefer not to leave their retirement funds under the control of an organization where they no longer work.

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