Retirement Plan Accounts: Qualified vs. Non-Qualified Plans

Most of us would like to stop working at some point in our lives. In order to do that, we need to have saved a sufficient amount of money to live on. To achieve this difficult task, most people rely on a formal retirement plan. A retirement plan is a savings or investment vehicle that is intended to provide income during retirement. The plan may be employer-sponsored, meaning that it is organized and managed by the participant’s employer, or it may be an individual plan that is managed by the participant. Even though securities a