What are the major types of qualified plan categories?

Name: What are the major types of qualified plan categories?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The two major types of qualified plan categories are defined benefit plans and defined contribution plans. Defined benefit plans have a maximum allowable benefit payable from the plan is the lesser of 100 percent of salary or $195,000 per year as of 2009. Defined contribution plans have a maximum allowable annual contribution is the lesser of 100 percent of salary or $49,000 as of 2009.

What Are the Major Types of Qualified Plan Categories