Nonstandardized Plan
Definition A “nonstandardized plan” is a Master&Prototype ( M&P) plan that is neither a standardized plan nor a nonstandardized safe harbor plan. Nonstandardized plans may
IRA
Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
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Nonrecalculation
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
Nonstandardized Safe Harbor Plan
Definition A Master&Prototype Plan that would be a standardized plan except that the plan: Is not required, by its terms, to benefit all nonexcludable employees
Nonqualified distribution
Definition A distribution from a Roth IRA or ESA that does not meet the requirements to be treated as a Qualified distribution- ESA or a
Non-Qualified Deferred Compensation ( NQDC)
Definition Any elective or nonelective plan agreement, method, or arrangement between an employer and an employee (or service recipient and service provider) to pay the
Nonperiodic payment (nonperiodic distribution)
Definition Distributions from a retirement account that are payable on demand , i.e. they can typically be requested in any amount at anytime. The tax
Nonelective Contribution
Definition Employer contributions (other than matching contributions) with respect to which the employee may not elect to have the contributions paid to the employee in
Nondiscrimination testing
Definition Tests that are required to be completed by qualified plans and ERISA-403(b) accounts , to ensure that plan benefits/contributions do not discriminate in favor
Nondeductible employee contribution (NEC)
Definition Contribution made by a participant to an employer sponsored plan on an after-tax basis. Nondeductible employee contributions are typically made to a 401(k) or
Nondeductible contribution
Definition A contribution for which no tax-deduction is allowed. The following are examples of contributions that can be deducted. Traditional IRA: An individual who is