A retirement plan that meets IRS rules and regulations in order to qualify for favorable tax treatment. A 401(k) is a qualified plan in which contributions are tax-deductible, and taxes on earnings are deferred until the money is withdrawn.
Letter: Q
Qualified Domestic Relations Order (QDRO)
A court order that allows a spouse, former spouse, child, or other dependent to receive all or a portion of a plan participant’s 401(k) benefits.