Are you asking about a qualified retirement plan? Or something else? Please clarify.
Qualified retirement plans may include:
- 401(k) plans, including single participant or solo plans for sole proprietors,
- 403(b) tax-sheltered annuity plans for employees of public schools or tax-exempt organizations,
- An individual retirement account under section 408(a) or an individual retirement annuity under section 408(b) (known as an IRA)
To determine whether your plan is a qualified plan (most but not all plans are), check with your employer or the plan administrator.
A qualified retirement plan is a savings plan that meets IRS and Employee Retirement Income Security Act (ERISA) requirements. It offers investors tax benefits like deductions and tax-deferred growth.
There are two main types of qualified retirement plans:
- defined benefit plans, like traditional pensions, and
- defined contribution plans, such as 401(k)s.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
