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-A written plan established by an employer to provide retirement benefits for its employees.

Question

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A qualified retirement plan is a written plan established by an employer to provide retirement benefits for its employees. It meets specific criteria set by the Internal Revenue Service (IRS) and can offer tax benefits to employers and employees.

Answer: G
 A defined benefit pension plan is a type of qualified retirement plan where the employer promises to pay a specified amount of retirement income to employees, based on a formula that typically considers the employee’s years of service and salary history.

Answer: H
 A money purchase plan is a type of defined contribution plan where the employer makes fixed contributions to a retirement account for the employee, regardless of the company’s profits or the employee’s salary.

Matching -A Written Plan Established by an Employer to Provide Retirement