Many employers offer a variety of employment plans. These plans often include either qualified or unqualified plans.

A plan is considered to be a qualified plan if it meets a number of requirements. For instance, the plan must be offered from an employer to an employee. Also, the contribution amount by either the employer or the employee is limited by a number of provisions depending on the type of the plan. 

The advantage of a qualified plan for employees is that thay will likely not be taxed on conributions or earnings until they begin to make annual withdrawls.

If you or anyone you know has questions about their employer-provided employment plans, contact the Houston employment lawyers of the Ross Law Group at 800-634-8042.