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"Is the Florida Retirement System (FRS) considered a qualified retirement plan?"
Yes, both types of plans are qualified plans.
A qualified retirement plan is an employer's plan to benefit employees that meet 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.
Qualified retirement plans can include:
To determine whether your plan is a qualified plan (most but not all plans are), check with your employer or the plan administrator.
"Is the Florida Retirement System (FRS) considered a qualified retirement plan?"
Yes, both types of plans are qualified plans.
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