Term
| Additonal income tax on early distribuiton |
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Definition
| A tax levied on distributions paid to participant's before he or she attains age 59 1/2. A exception would be for certain substantially equal payments made after a participant's separation form service and distributions made to participants who separate from service after attaining age 55. |
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Term
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Definition
| "The entire value of a participants accrued benefit, including amounts that are not includible in income (basis)." |
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Term
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Definition
| Amount of the participant's balance that is not included in income. |
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Term
| Eligible rollover distribution |
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Definition
| "Any distribution to the participant of all or any portion of his benefit, unless it is specifically excluded." |
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Term
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Definition
| A payment that constitutes the balance to the credit of the employee and must be made within one taxable year following a proper distribution event. |
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Term
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Definition
| The transfer of a qualified plan distribution (or part of the distribution) to another retirement plan or to an IRA. |
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