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Level 1
June 1, 2019
Solved

WHAT IS A QUALIFIED RETIREMENT PLAN?

  • June 1, 2019
  • 1 reply
  • 19 views
DOES THIS APPLY TO "X" MARKED ON W2 FORM?
Best answer by SherylSTaxExpert

A qualified retirement plan is a retirement plan that must follow certain rules and guidelines set forth by Employee Retirement Income Security Act (ERISA). Qualified plans, such as 401(k) plans, IRAs and profit-sharing plans, must meet the standards in order to continue operations. Qualified plans are also subject to annual contribution limits set by the IRS each year.

1 reply

Level 6
June 1, 2019

A qualified retirement plan is a retirement plan that must follow certain rules and guidelines set forth by Employee Retirement Income Security Act (ERISA). Qualified plans, such as 401(k) plans, IRAs and profit-sharing plans, must meet the standards in order to continue operations. Qualified plans are also subject to annual contribution limits set by the IRS each year.