IRS qualified retirement plan

[jpbsc2009]

Good afternoon,

I am retired from the State of Idaho and receive the Public Employee Retirement System Idaho (PERSI) base plan benefits.

It seems this should be an IRS qualified retirement plan, but I am not sure. 

Can you advise me in this issue?

Thank you. 

Jerome 

[ToddL99]

If your Public Employee Retirement System Idaho (PERSI)  plan was a 457 plan, then it is probably a "qualified plan".

Most plans are qualified plans, especially if you made tax-deferred contributions to the plan. To be certain, you would have to contact the plan administrator. If your PERSI plan was a 457 plan, then it is probably a "qualified plan"

A qualified plan is a retirement plan sponsored by employers for the exclusive benefit of employees. paying taxes on the contributions until retirement.

Qualified plans include:

- 401(k)s

- 403(b)s (also known as tax-sheltered annuity plans)

- 457 plans for government employees

- Traditional IRAs

- Roth IRAs

- SEP and SIMPLE plans for employees of small businesses

- Pension plans

- Profit-sharing plans

- Stock bonus plans