Employer Sponsored Retirement Plan

Business / Taxes / Employer Sponsored Retirement Plan: Employers may offer their employees either defined benefit or defined contribution retirement plans, or they may make both types of plans available. Any employer may offer a defined benefit plan, but certain types of defined contributon plans are available only through specific categories of employers. For example, 403(b) plans may be offered only by tax-exempt, not-for-profit employers, and 457 plans only by state and municipal governments. SIMPLE plans, on the other hand, can only be offered by employers with fewer than 100 workers. Corporate employers who contribute to a retirement plan can take a tax deduction for the amount of their contribution and may enjoy other tax benefits. However, the plan must meet certain Internal Revenue Service (IRS) guidelines. Offering a retirement plan may also make the employer more attractive to potential employees. However, employers are not required to offer plans. If they do, they can make the plan as generous or as limited as they choose as long as the plan meets the government's nondiscrimination guidelines.

Other Words for Employer

Employer Noun Synonyms: proprietor, owner, patron, manager, director, chief, head, boss, gaffer, governor, Eye guv'nor, guv
MORE

Other Words for Plan

Plan Noun Synonyms: design, layout, blueprint, scheme, method, procedure, system, arrangement, programme, project, formula, pattern, script, scenario
MORE

Planned Unit Development (PUD)

Business / Real Estate / Planned Unit Development (PUD): A relatively modern concept in housing designed to produce a high density of dwellings and maximum use of open spaces. This efficient use of land allows greater flexibility for residential land and de MORE

Planned Financing Program

Business / Finance / Planned Financing Program: Budgeted or projected ways need for reasons or to obtain short-term and long-term financing as outlined in the corporate financial plan. MORE

Planned Capital Expenditure Program

Business / Finance / Planned Capital Expenditure Program: Budgeted or projected outlays for major expenditures on permanent or fixed assets as outlined in the corporate financial plan. MORE

Links
Home
Glossary
Thesaurus