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;
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.
Explore
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
Roth IRA
Definition A retirement savings vehicle, wherein earnings accrue on a tax-deferred basis and distributions are tax-free if qualified. A Roth IRA can be either of
Roth IRA Conversion
Definition The converting of assets from a Traditional, SEP or SIMPLE IRA to a Roth IRA. Roth conversions can be accomplished in the following ways:
Roth 401(k) Program
Definition A 401(k) plan under which elective deferral contributions are made to a section 401(k) plan. The contributions must satisfy the following requirements: Has been
