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• The South Carolina Retirement Systems’ retirement plans are qualified plans under section 401(a) of the Internal Revenue Code. The term also refers to other retirement plans that are qualified by the IRS.

  South Carolina Retirement Systems - Cite This Source - This Definition
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  Cite Definition for Qualified Plan

  American Psychological Association (APA)

  Qualified Plan. (n.d.). SCRS Glossary. Retrieved March 22, 2023, from website: http://www.expertglossary.com/definition/qualified-plan.

  Chicago Manual of Style (CMS)

  Qualified Plan. www.retirement.sc.gov. SCRS Glossary. South Carolina Retirement Systems. http://www.expertglossary.com/definition/qualified-plan (accessed: March 22, 2023).

  Modern Language Association (MLA)

  "Qualified Plan." SCRS Glossary. South Carolina Retirement Systems. 22 March. 2023 http://www.expertglossary.com/definition/qualified-plan.

• Browse Related Terms: 401(k) Savings Plan and 457 Savings Plan, Average Final Compensation (AFC), Defined Contribution Plan, Direct Rollover, IRC Section 401(a), Lump-Sum Distribution, Qualified Domestic Relations Order (QDRO), Qualified Plan, Rollover, Roth 401(k) Savings Plan, Single-Sum Distribution, Tax-Deferred