retirement plan


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Related to retirement plan: retirement savings plan
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.retirement plan - a plan for setting aside money to be spent after retirement
plan, program, programme - a series of steps to be carried out or goals to be accomplished; "they drew up a six-step plan"; "they discussed plans for a new bond issue"
401-k, 401-k plan - a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
individual retirement account, IRA - a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred
Keogh plan - a tax-deferred pension plan for employees of unincorporated businesses or for self-employed persons
References in periodicals archive ?
Most businesses hire a third party service provider to establish their retirement plan, offer investment options, keep records, produce reports, and communicate with the government and their employees.
On June 1, 2007, she repays $25,000 to her retirement plan.
RETIREMENT PLAN ASSETS MAY BE SUBJECT TO attachment by federal tax levies, judgments and fines imposed in federal criminal actions.
Specifically, the AICPA said that it believed the proposed changes not only do not encourage small employers to offer retirement savings plans for their employees, but may actually encourage small employers that currently offer retirement plans to terminate their retirement programs.
Generally, a tax-qualified retirement plan is top heavy when the benefits of certain company executives (called "key employees" in the Internal Revenue Code) account for more than 60 percent of the plan's assets.
If the legal requirements are satisfied that entitle the physician to payment of PC plan benefits, the main alternatives for the doctor involve current taxation upon receipt of the funds or "rollover" of all or a portion of the balance to either an individual retirement account (IRA) established by the participant or the new employer's retirement plan (provided such plan accepts rollovers).
Company's who offer their employees a 401(k) plan face increased pressure and fiduciary responsibilities to disclose more information to their participants in the retirement plan.
An exodus of rank-and-file employees from the qualified retirement plan to the HSA can limit the amount of tax-advantaged retirement funds that highly compensated employees can set aside.
Not having a retirement plan may be downright foolish, nonetheless it is the plan at many accounting firms.
The taxpayer in the TAM simply wanted to know whether vacation days converted to cash equivalents and contributed to its qualified retirement plan on behalf of its employees were subject to FICA taxation.
While the recently passed Pension Protection Act has created powerful retirement savings opportunities for employers, advisors and retirement plan participants, more education about its benefits is needed to help Americans take full advantage.
When confronted with the possibility of giving more than 75% of their retirement plan assets to the government, individuals may want to consider naming a charity as a beneficiary of all or a portion of these benefits.

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