Qualified Retirement Plan
Definition of 'Qualified Retirement Plan'A plan that meets requirements of the Internal Revenue Code and as a result, is eligible to receive certain tax benefits. These plans must be for the exclusive benefit of employees or their beneficiaries. |
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Investopedia explains 'Qualified Retirement Plan'There are two kinds of qualified plans: defined-benefit plans and defined-contribution plans.Some examples of defined-contribution plans are 401(k) plans, money-purchase pension plan and profit-sharing plans. |
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I have a KSOP through my employer that I've invested 100% in company stock. I am now concerned that I'm not diversified and would like to move out of company stock and into mutual funds. Is this allowed with the funds I've contributed to the account?
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