475-000-314
|
IRS Code Section |
Plan Type |
Description |
|
401 |
Traditional Defined Benefit Plan |
Employer-based retirement plan that promises retirees a certain benefit upon retirement, regardless of investment performance |
|
401(a) |
Cash Balance Plan |
Employer-based hybrid plan that combines features of defined benefit and defined contribution plans. Account balances accrue at a specified rate, rather than depending on investment performance. |
|
401(a) |
Employee Stock Ownership Plan |
Similar to a profit-sharing plan that must be primarily invested in the employer's stock and under which distributed benefits must be offered in the form of the employer's stock |
|
401(a) |
Keogh Plan |
Informal term for retirement plans available to self-employed people |
|
(401(a) |
Money Purchase Pension Plan |
Employer-based defined contribution plan under which annual contributions are fixed as a set formula |
|
401(a) |
Profit-Sharing Plan |
Employer-based defined contribution plan under which employer contribution may, but need not be, linked to profits. Usually refers to non-matching employer contributions. |
|
401(a) |
Simple 401(k) |
401(k)-type plans available only to small businesses; exempt from certain restrictions and subject to some limitations on employer contributions |
|
401(a) |
401(k) |
Defined contribution plan that allows employees to defer receiving compensation in order to have the amount contributed to the plan. Commonly referred to as a "cash or deferred arrangement" (CODA). Some 401(k) plans allow after-tax Roth 401(k) contributions. |
|
403(a) |
403(a) |
Plans that are similar to 401(a) plans but are funded through annuity insurance |
|
403(b) |
403(b) |
Tax-sheltered annuity or custodial account plan offered by tax-exempt section 501(c) organizations or public schools. Many are funded by employee contributions that resemble 401(k)s. |
|
408 |
IRA |
Tax-deferred retirement savings controlled by individuals rather than employers |
|
408(p) |
Simple retirement account IRA |
Employer-based IRA (employers and employees contribute) available only to small businesses |
|
408(k) |
Simplified Employee Pension Plan (SEP) |
Employer sponsored plan available only to small businesses; allows employer to contribute to employee accounts that function as IRAs and are subject mostly to IRA rules. |
|
408A |
Roth IRA |
Same as IRA, except that qualified distributions are tax exempt |
|
501c(18) |
501c18 Plan |
Plan offered mostly by unions. Had to be set by June 1959 and are now largely obsolete. |
|
Section 8439 of Title 5 USC |
Federal Thrift Savings Plan |
Plan offered by the federal government to its employees |
{Manual Bulletin 475-00-48}