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Unit 1: Types of Accounts > 1.6 Qualified vs Non-Qualified Plans > Flashcards

1.6 Qualified vs Non-Qualified Plans Flashcards

1
Q

Qualified Plan

A

-Approved by IRS
-Cannot discriminate
-Contributions currently tax deductible
-Plans operates as a trust

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2
Q

Non Qualified Plan

A

Contributions NOT DEDUCTIBLE
NO IRS APPROVAL

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3
Q

Examples of Non-Qualified Plans (Individual Plans)

A

Non-qualified annuities

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4
Q

Qualified employer-based p

A
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Unit 1: Types of Accounts (8 decks)

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