Examlex
All of the following are changes that are reshaping our workforce EXCEPT:
Employer-sponsored Retirement Plan
A retirement savings plan provided by an employer to its employees, often with tax advantages for contributions and investment earnings.
Deductible IRA Contribution
A contribution to an Individual Retirement Account that can be subtracted from gross income, reducing taxable income for the year the contribution is made.
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.
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