Planning For Retirement From Your Business
Qualified Retirement Plans
A Qualified Retirement Plan is a retirement savings plan that meets the requirements set by the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC), allowing it to receive special tax advantages. These plans are typically established by employers for their employees and offer benefits such as tax-deferred growth, employer contributions, and creditor protection.
401(k)
403(b) Profit Sharing
Defined-Benefit
Cash Balance
ESOP
Non-Qualified Plans
A Nonqualified Retirement Plan is a retirement savings plan that does not meet the requirements of ERISA (Employee Retirement Income Security Act) or the Internal Revenue Code (IRC) for tax-favored status. These plans are typically used to provide additional retirement benefits to executives, key employees, or high earners beyond the limits of qualified retirement plans like 401(k)s.