What is mean by Employee sponsored plan

[kjlwe10]

Employee sponsored pension plan

[seriouslykiddingme]

I'm not a tax professional, so these are just my amateur thoughts. If it's a health savings plan, pension plan or some kind of IRA -- then they want to know if you are getting it through your employer who is also contributing to it. Sometimes you contribute as well. But you are getting it through your employer, you didn't get it on your own or by going through a broker. Good luck!

[DawnC]

Employer Sponsored Pension Plans:

• Employer-sponsored plans refer to employee benefits that are offered by an organization.   
• These plans are often tax-advantaged for employees.
• Sponsorship does not mean that an employer contributes funds to the plans, though they may match certain employee contributions.
• Employers install these benefit plans in order to attract and retain workers as well as receiving tax breaks and other incentives.

The are 2 types:

• Defined Contribution Plans and
• Defined Benefit Plans