Qualified Retirement Plans

Qualified retirement plans are employer-sponsored savings programs designed to provide income during retirement, meeting specific IRS requirements. Contributions to these plans, such as 401(k) and pension plans, often enjoy tax benefits, meaning money can be contributed pre-tax and grow tax-deferred until withdrawal. The plans also typically feature rules for withdrawals, loans, and contribution limits. Because they meet federal guidelines, qualified plans protect assets from creditors and may offer employees a reliable source of income in retirement, encouraging long-term savings and financial security.