Paired plan
Definition More than one standardized plans maintained by the same employer ( plan sponsor), so as to coordinate certain provisions. For instance, a plan sponsor
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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Qualified Terminable Interest Property (QTIP)
Definition Property that passes from the decedent, in which the surviving spouse has a qualifying income interest for life, and to which an election applies;
Qualified Retirement Plan (Qualified Plan)-QRP
Definition An employer sponsored retirement plan that meets certain requirements, as specified under Code Section 401(a). Qualified plans include defined benefit plans, money purchase pension
Qualified Joint And Survivor Annuity ( QJSA)
Definition Distribution option under a qualified plan or 403(b), where annuity payments are made to the participant for his/her lifetime and continues to his/her surviving
401K
Qualified distribution- Roth IRA
Definition A distribution from a Roth IRA that satisfies certain requirements, resulting in the distribution being tax-free and penalty free. Distributions that are non-qualified may
Qualified distribution- Education Savings Account (ESA )
Definition A distribution from an education savings account (ESA) that is used to pay for qualified education expenses at an eligible education institution. Generally, qualified
Qualified domestic relations order (QDRO)
Definition A qualified domestic relations order (QDRO) means a domestic relations order (DRO) which creates or recognizes the existence of an alternate payee’s right to
Qualified Disclaimer
Definition A written document, wherein the beneficiary irrevocably refuses to accept assets they would otherwise inherit. The disclaimer must meet the following requirements in order
Revocation
Definition The act of revoking a contribution, rollover contribution , Roth conversion, or transfer to an IRA. An individual who establishes an IRA must be
Revocable Trust
Definition A trust, which, by its terms, cannot be modified, amended, or revoked. For tax purposes an irrevocable trust can be treated as a simple,