Site Logo Retirement Dictionary Financial Advice Retirement Advice

Save time with our cheat sheets, fact sheets, checklists & books!

Get the cheatsheets!

February 16, 2009

Master Plan

Learn More

Print

Definition

A plan that is made available by a plan sponsor for adoption by more than one employers with all the employers using a single funding medium for plan contributions. The funding medium being a trust or custodial account.

A master plan consists of a basic plan document, an adoption agreement and, unless included in the basic plan document, a trust or custodial account document .

Referring Cite

Revenue Procedure 2000-20

Additional Helpful Information

  • Master plans include those covering self-employed individuals
  • Determination letter requests for master plans are submitted on Form 5307
More

Keep Learning

Applicable RMD Age

Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs

SIMPLE 401(k) Plan

Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions

Required Minimum Distribution (RMD)

Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.  For retirement account

Required beginning date (RBD)

Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional,  SEP or SIMPLE IRA, a

Favicon for Retirement Dictionary Financial Advice

 The Retirement Dictionary was created to provide IRAs and employer retirement plan information in an easy-to-understand manner for individuals at all levels of expertise and to help educate everyone about how retirement plans work.

Get Started

About

Categories

Be among the first to know when

IRA Rules
Change