What Does A Qualified Retirement Plan Mean?

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    David RacichPRO
    Fountain Hills, Arizona
    Generally a qualified plan is a sanctioned government retirement plan with tax deductible contributions, tax deferred accumulation and taxable distribution including basis. Some plans allow employers to match employee contributions. There are several qualified plans available for individuals as well as employer sponsored like 401(k)s, 403(b)s, 412(e), SEP IRAs, IRAs, etc.
      
    Answered on June 23, 2013
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    What does a qualified retirement plan mean?   It means a retirement plan that offers some sort of tax benefit to the participant in their savings towards retirement in a particular plan. A qualified plan provides benefits that will boost the outcome possibilities in most cases. The plans also come with limits and conditions that must be met.
    Answered on June 24, 2013
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