Qualified Plans Vs Non qualified Plans

Question 1

Qualified plans or text deductible contributions or are they not tax-deductible contributions?

Answer 1

They are tax-deductible contributions

Question 2

Qualified plans are IRS approved or are they not IRS approved?

Answer 2

They are IRS approved - in trust

Question 3

Qualified plans have discrimination or do they not have discrimination?

Answer 3

They do not have discrimination

Question 4

Qualified plans are pretax or are they after-tax?

Answer 4

They are pre-tax

Question 5

Qualified plans are tax deferred growth or are they not tax deferred growth?

Answer 5

They are tax-deferred growth

Question 6

How much is taxed on the withdraw from a qualified plan?

Answer 6

100% is taxable on a withdraw

Question 7

Qualified plans are regulated by ERISA or not regulated by ERISA?

Answer 7

They are regulated by ERISA

Question 8

Non-qualified plans are tax-deductible or are not tax-deductible?

Answer 8

Not tax deductible

Question 9

Non-qualified plans are IRS approved or not IRS approved?

Answer 9

Not IRS approved

Question 10

Can non-qualified plans discriminate?

Answer 10

Yes

Question 11

On non-qualified plans can the growth be tax deferred?

Answer 11

Yes (annuity)

Question 12

What is taxable or non-qualified plans?

Answer 12

Only gain is taxable at withdrawal

Question 13

Non-qualified plans have ERISA regulations or do not?

Answer 13

Do Not

Question 14

Profit sharing plan

Answer 14

Qualified

Question 15

401(k)

Answer 15

Qualified

Question 16

Keogh (HR-10)

Answer 16

Qualified

Question 17

Payroll deduction

Answer 17

Nonqualified

Question 18

Deferred compensation

Answer 18

Nonqualified

Question 19

Traditional IRA

Answer 19

Nonqualified

Question 20

Roth IRA

Answer 20

Nonqualified

Question 21

SEP

Answer 21

Nonqualified

Question 22

403B

Answer 22

Qualified