401(k) plans still flexible despite antibias rules

Article Abstract:

Profit sharing, money purchase, rural cooperative, and stock bonus plans can have an arrangement called a CODA (cash or deferred arrangement) that allows employees to receive either a cash distribution or have a distribution made to a trust in their name. CODAs must satisfy certain requirements to qualify under 401(k) regulations, including: distributions are restricted to the death, disability, retirement, or separation from service of the employee; the term of service for participation can be no more than one year; and accrued benefits must be non-forfeitable at all times.

Salary reduction savings plans, 401K plans, Deferred compensation

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Charitable trusts are an alternative to qualified plans

Article Abstract:

Charitable remainder trusts, trusts where the trust creator receives income for the rest of their lives or for a set period, have become increasingly attractive to taxpayers due to the reduced tax deductions for charitable donations and the complexity and expense of maintaining a qualified plan. The income consequence of charitable remainder trusts are that contributions are considered tax deductible. The Internal Revenue Code requires that the trust receive the property for which deductions are taken.

Taxation, Charitable remainder trusts

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