regular retirement plan?

[cathyfayrager]

i was a janitor, please help me understand types of retirement plans?

[LindaS5247]

Yes, it would likely be considered a "regular" retirement plan.

If you had a retirement plan through your work or a union, it is most likely a regular retirement plan and a qualified retirement plan.

Most retirement plans fall within these categories. These would include Employer-sponsored 401(K) plans, 403(b) Plans and Traditional IRA's,

Retirement plans that may not be considered regular would be nonqualified plans such as an Executive Bonus Plan or Deferred Compensation Plan.

Click here for What's a qualified retirement plan?

Click here for IRA Tax Benefits: Taxes on Retirement vs. Non-Retirement Accounts

If you have additional information or questions regarding this, please return to Community and we would be glad to help.