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llcrain
New Member

Is my sick leave payout from Schwab at retirement a Qualified plan or Non-qualified plan?

 
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2 Replies
TomK2023
Expert Alumni

Is my sick leave payout from Schwab at retirement a Qualified plan or Non-qualified plan?

Maybe.  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 company contributions. Your contributions may also qualify for tax deferral.


To determine whether your plan is a qualified plan (most but not all plans are), check with your employer or the plan administrator.

 

TurboTax FAQ: What is a "qualified" retirement plan?

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dmertz
Level 15

Is my sick leave payout from Schwab at retirement a Qualified plan or Non-qualified plan?

I would expect these to be wages reported on a W-2, not money distributed from a qualified plan or a non-qualified plan.

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