In an effort to incentivize saving for retirement

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Reference no: EM131637507

In an effort to incentivize saving for retirement, Congress allows tax-advantaged employer retirement plans. For a plan to remain “qualified” for taxation benefits and anti-alienation protection, it must comply with ERISA standards. Five key ERISA concepts that are addressed this week are 1) eligibility, 2) vesting, 3) excludable and non-excludable employees), 4) broad coverage (i.e., plan does not discriminate in favor of highly-compensated or key employees) and 5) funding limits (contributions and benefits). Offer a one to two sentence summary for each of these five concepts.

Reference no: EM131637507

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