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Types of Qualified Plans

Qualified Retirement plans* are plans that receive certain tax benefits under the Internal Revenue Code, offering pre-tax contributions and tax-deferred accumulation of funds.

  • Simplified Employee Pension Plan (SEP)
  • Savings Incentive Match Plan for Employees (SIMPLE)
  • 401(k) Plan
  • 412(i) Plan

*Withdrawals are taxed as ordinary income. If taken prior to age 59 1/2, they may also be subject to a 10% federal income tax penalty. Qualified plans are subject to federal contribution limits that can make them inadequate as the sole source of retirement income for highly compensated employees.  

Contact a Penn Mutual Financial Advisor who can help you determine your needs and choose the right solutions for your business. All information will remain strictly confidential.

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