Examlex
Find the product. Assume all variable exponents represent whole numbers.
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Active Participant
An individual who is actively contributing to a qualified retirement plan or is credited with service under the plan for the tax year.
Qualified Pension Plan
A retirement plan that meets the requirements of the Internal Revenue Code, thereby offering tax advantages such as deferred taxation on earnings.
Nontaxable
Describes income or transactions that are not subject to income tax by law or specific exemption.
Fully Taxable
Income that is subject to tax at the regular rates without any deductions or exemptions.
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