A qualified retirement plan is an employer’s plan to benefit employees that meets specific Internal Revenue Code requirements. These plans may qualify for special tax benefits, such as tax deferral for employer contributions. Your contributions may also qualify for tax deferral.
Qualified retirement plans specifically for the business are:
A 401(k) plan
A Qualified Cash Balance Plan
For our individual clients:
A qualified employee 403(a) annuity plan
A 403(b) tax-sheltered annuity plan for employees of public schools or tax-exempt organizations
An individual retirement account under section 408(a) or an individual retirement annuity under section 408(b) (IRAs)