Qualified Retirement Plan is a retirement plan that qualifies for favorable tax treatment by the IRS for contributions made into the plan.
For most investors saving for retirement is a major investment objective. Opening a qualified retiement account such as a traditional IRA will allow the investor to contribute money to the plan and receive favorable tax treatment for the contribution. Most investors can deduct the amount they contribute to their traditional IRA from their reported income. The money in the plan is allowed to grow tax defered while in the plan. When the money is taken out of the plan it is taxed as ordinary income.
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