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New Member
posted Jun 1, 2019 8:26:34 AM

WHAT IS A QUALIFIED RETIREMENT PLAN?

DOES THIS APPLY TO "X" MARKED ON W2 FORM?

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1 Best answer
Level 3
Jun 1, 2019 8:26:36 AM

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 Replies
Level 3
Jun 1, 2019 8:26:36 AM

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.