What Is The Difference Between A Qualified And Nonqualified Retirement Plan?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   A qualified plan is generally a government approved define benefit or defined contribution retirement plan. It is generally has a pretax or tax deductible privilege for the plan participant and accumulates tax deferred. Non-qualified plans are not tax deductible, but do accumulate tax deferred with annuities and/or life insurance.

   Answered on August 3, 2013

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