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February 16, 2009

Pension Plan

Your Guide



An employer sponsored retirement plan designed to provide participants with annuitized income stream during retirement. Pension plans include defined benefit plans,  money purchase pension plans and  target benefit plans.

Referring Cite

IRC § 401(a)

Additional Helpful Information

Participants and beneficiaries may be given the option to take distributions in lump-sum payments instead of in annuity income streams


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Domestic abuse distribution

A domestic abuse distribution is one that is made to domestic abuse victim, during the 1-year period beginning on any date on which the individual

Eligible retirement plan

The term “eligible retirement plan”, means a retirement plan to which a rollover contribution can be made. These are: (i)an individual retirement account described in

Qualified See-Through Trust beneficiary

Definition A qualified trust beneficiary is a trust that satisfies the requirements so as to be treated as a designated beneficiary.   For retirement accounts inherited

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

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IRA Rules