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June 19, 2018

New IRS PLR Resolves Yet Another Failure to Designate a Beneficiary for a Retirement Account

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Recently issued private letter ruling (PLR) 201821008 is yet another case of a failure to properly designate a beneficiary of a retirement account. Read about it here

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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

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

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

Key Employee

Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,

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 The Retirement Dictionary was created to provide IRAs and employer retirement plan information in an easy-to-understand manner for individuals at all levels of expertise and to help educate everyone about how retirement plans work.

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