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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.
*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.
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