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Get your taxes done using TurboTax
A 401(k) and a traditional defined benefit pension are both qualified retirement plans.
According to a non-technical explanation by Bankrate: "A qualified retirement plan is a retirement plan recognized by the IRS where investment income accumulates tax-deferred. Common examples include individual retirement accounts (IRAs), pension plans and Keogh plans. Most retirement plans offered through your job are qualified plans."
March 15, 2021
3:24 PM