What Does Qualified Plan Mean?

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What does Qualified Plan mean? Read on to discover the definition & meaning of the term Qualified Plan - to help you better understand the language used in insurance policies.

Qualified Plan

Qualified Plan

An employee benefit plan the Internal Revenue Service (IRS) has approved as meeting the requirements of Section 401(a) of the Internal Revenue Code. Such plans receive favorable tax advantages.

We hope the you have a better understanding of the meaning of Qualified Plan.

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