Leased Employee
Definition Any person who is not an employee of the recipient and who provides services to the recipient if— such services are provided pursuant to
401K
A tax-deferred employer-provided retirement savings account, to which eligible employees may defer part of their salary. Salary deferral can be pre-tax or post-tax include Roth 401(k)s.
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Multiple-employer plan
Definition A qualified plan that benefits employees of more than one employer , providing those employees are not included in a unit of employees covered
Multi-Employer plan
Definition A qualified plan: A. to which more than one employer is required to contribute B. which is maintained pursuant to one or more collective
Money purchase pension plan
Definition An employer-sponsored qualified-retirement-plan, established by an employer for the benefit of it’s employees and their beneficiaries. Money purchase pension plans are defined contribution plans
Minimum distribution incidental benefit (MDIB)
Definition RMD rule that required the RMD to be calculated using a MDIB table which assumed the beneficiary was ten years younger than the participant,
Minimum Coverage Test
Definition A test that must be performed for qualified plans and 403(b)s to ensure the plan meets one of the following requirements: The plan benefits
Matching Contribution
Definition Contributions made by the employer in addition to&contingent upon salary-deferral contributions made by the participant. Matching contributions can be made to 401(k) plans-including SIMPLE
Married Filing Separately
Definition Husband and wife , whose status of being married are defined under federal , who are eligible to file jointly, but elect to file
Married Filing Jointly
Definition Husband and wife , whose status of being married are defined under federal , who file a joint tax return. A joint tax return
Notice
Definition IRS Notice: A notice is a public pronouncement that may contain guidance that involves substantive interpretations of the Internal Revenue Code or other provisions
