Early distribution
Referring Cite IRS § 72(t), Form 5329 and its instructions, IRS Publications 590 and 575 Additional Helpful Information The early distribution penalty applies to 457(b)
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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Distribution
Definition Amount paid from a retirement plan as a reportable transaction. A distribution can be processed as a direct rollover or paid to the participant.
Defined contribution plan
Definition What is a defined contribution plan? An employer sponsored qualified-plan , where employees receive a promised contribution to their account . The contribution can
Defined benefit plan (Defined benefit pension plan )
Definition An employer sponsored qualified-plan, where employee benefits are intended to be predetermined and guaranteed. Typically, a participant is promised a monthly benefit upon retirement.
Deferral election (Salary)
Definition A written election made by plan participants to make salary deferral contributions to an employer-sponsored plan that includes salary deferral-feature. Such plans include SARSEPs,
Deductible employee contribution (DEC)
Definition Any qualified voluntary employee contribution (i.e. any amount contributed on behalf of any individual to a plan described in Code § 501 (c)(18)) ,
Declining years (nonrecalcualtion)
Definition Method of determining life expectancy used to calculate post-death distributions, where once the life expectancy is determined in the determination year, 1 is subtracted
Death benefit exclusion
Definition Death benefits that can be excluded from income. The beneficiary of a deceased employee (or former employee), who died before August 21, 1996, may
Death benefit
Definition Benefits received by the beneficiary of a deceased: participant, insurance policy owner, annuity owner nonqualified deferred compensation plan participant etc upon the participant’s/owner’s death
Date of Acquisition
Definition As it relates to a first time home buyer, is the date on which a binding contract to acquire the principal residence, or the
