A Defined-Contribution Plan is a type of retirement plan where contributions are predefined, but the eventual benefits depend on the investment performance of the plan.
Elective Deferral refers to voluntary contributions made by an employee to their retirement plan from their own salary on a pre-tax or after-tax basis.
An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan that provides employees with ownership interest in the company. It serves as both a retirement plan and a tool for corporate finance and control.
A retirement plan aimed at small businesses and the self-employed, offering simpler administration than Keogh Plans.
A Cash or Deferred Arrangement (CODA) is a type of retirement plan that allows employees to choose between receiving cash now or deferring a portion of their income into a retirement savings account.
A retirement plan is a financial arrangement designed to replace employment income upon retirement, offering tax advantages such as deductions for employers and deferred recognition of income for employees or self-employed individuals.
A comprehensive guide to the features, benefits, and workings of Deferred Profit Sharing Plans (DPSPs) offered by employers in Canada, including contributions, eligibility, and taxation.
An in-depth exploration of elective-deferral contributions, understanding how they work, their limits, and their role in employer-sponsored retirement plans.
An in-depth exploration of the Government-Sponsored Retirement Arrangement (GSRA), a Canadian retirement plan for individuals paid from public funds, yet not government employees.
A comprehensive guide to Simplified Employee Pension (SEP) IRA plans, explaining what they are, how they function, their benefits, eligibility criteria, and key considerations for employers and self-employed individuals.
A comprehensive guide to understanding tax-sheltered annuities, including their definition, benefits, working mechanism, eligibility, and frequently asked questions.
