The technical definition for a qualified plan is one that satisfies the requirements of IRC Section 401(a). A Qualified Plan is known for the numerous tax advantages the plan allows. Contributions made into the plan are not taxed until you withdraw the money, which allows an investor to save more money than in other types of retirement plans. A qualified plan is established by a business and is subject to the provisions of the Employee Retirement Income Security Act (ERISA). Some of the most common types of qualified retirement plans consist of Profit Sharing Plans, 401(k) plans, and Defined Benefit Plans.
Articles in this section
- What is an empowered Qualified Retirement Plan (Solo 401k)?
- How many kinds of Qualified Retirement Plans are there?
- Why Have a Qualified Retirement Plan?
- What are the benefits of The Solo 401k?
- Are there any negatives of The Solo 401k?
- Why haven’t I heard of The Solo 401k before?
- Is the Solo 401k allowed under IRS rules?
- Are there special rules for The Solo 401k investments?
- How can I be sure that my investment is allowable in a Solo 401k?
- My CPA/attorney/financial advisor hasn’t heard of The Solo 401k? What Should I Do?