What Is A Non-Qualified Retirement Plan?

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   David RacichPRO

   Fountain Hills, Arizona

   Non-qualified retirement plans are not sanctioned for the tax deduction like qualified plans are under ERISA. Non-qualified retirement plans generally use annuities and life insurance. Annuities can be used in qualified plans, but life insurance cannot. Non-qualified and qualified retirement plans using annuities, for an example, accumulate tax deferred, but the basis of a non-qualified annuity is distributed free of taxation, whereas qualified annuities are fully taxable including basis.
    

   Answered on June 13, 2013

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