What Is A Retirement Plan Sponsored By An Employer?

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    David RacichPRO
    Fountain Hills, Arizona
    Generally an employer sponsored qualified retirement plan under ERISA (Employee Retirement Income Security Act of 1974.) can be a defined benefit or contribution plan. Most employer sponsored plans today are defined contributions plans like a 401(k) that permits pretax contributions, tax deferral accumulations and distributions taxed as ordinary income.
    Answered on July 21, 2013
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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    An employer sponsored retirement plan is a benefit of employment. It is designed to encourage loyalty among employees. This might be done with contributions on the part of the employer or may only be the facility for providing a place where employees can save for their own retirement. There can be a wide variety of plans available.
    Answered on October 30, 2014
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