How to determine a qualified plan vs non qualified plan when the plan does include insurance?

ladygray42 · ‎March 20, 2024

SharonD007 · ‎March 20, 2024

Qualified plans qualify for certain tax benefits and meet the guidelines of the Employee Retirement Income Security Act (ERISA) while nonqualified plans don't. Examples of qualified plans are 401(k) plans, profit-sharing plans, and Keogh (HR-10) plans. Examples of nonqualified plans are e deferred-compensation plans, executive bonus plans, and split-dollar life insurance plans.

Check with your employer or the plan administrator to confirm the type of plan that you have.

Refer to the TurboTax article What is a "qualified retirement plan"? for more information.

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How to determine a qualified plan vs non qualified plan when the plan does include insurance?