New York Life

Glossary

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Qualified Plan
A business or self-employment retirement plan that meets certain federal requirements and therefore enjoys special tax advantages, including the deductibility of contributions. These retirement plans conform to the rules of Section 401 of the Internal Revenue Code, and include defined benefit and defined contribution plans, such as 401(k), profit sharing, and money purchase plans.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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