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February 16, 2009

Pension Plan



An employer sponsored retirement plan designed to provide participants with annuitized income stream during retirement. Pension plans include defined benefit plans,  money purchase pension plans and  target benefit plans.

Referring Cite

IRC § 401(a)

Additional Helpful Information

Participants and beneficiaries may be given the option to take distributions in lump-sum payments instead of in annuity income streams


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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

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IRA Rules