To qualify for favorable tax treatment, qualified retirement plans must meet certain conditions. Though covered in greater depth in Section III, basic qualification requirements include:

• The plan must be in writing, permanent, and established by the employer for the exclusive benefit of its employees and their beneficiaries.
• The plan must be communicated to all eligible employees.
• The plan cannot discriminate in favor of key or Highly Compensated Employees.
• Only the employer and/or the participating employees can make contributions to the plan.
• Plan benefits or contributions cannot exceed certain specified limits, depending on plan type.
• Plan participants must acquire a non-forfeitable right to their benefits based on a specified vesting schedule.

Back to Top | Next

Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.

6