Definition from Nolo’s Plain-English Law Dictionary
A retirement plan that meets certain requirements under the Internal Revenue Code and is thus eligible for special tax considerations and benefits. Often, the plan allows employers to make tax deductible contributions on behalf of eligible employees. Employees generally do not have to pay tax on the plan earnings until they withdraw the money.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:22 pm