It probably is, but to be sure, you should check with the plan administrator.
A qualified
retirement plan is an employer's plan to benefit employees that meets specific
Internal Revenue Code requirements. These plans may qualify for special tax
benefits, such as tax deferral for employer contributions. Your contributions
may also qualify for tax deferral.
Qualified retirement
plans can include:
- A qualified employee plan
such as a section 401(k) plan, including single participant or
"solo" plan for sole proprietors
- A qualified employee 403(a)
annuity plan
- A 403(b) tax-sheltered
annuity plan 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)