Section 401a

For purposes of this section and sections 402 403 and 404 the term annuity includes a face amount certificate as defined in section 2 a 15 of the investment company act of 1940 15 u s c sec.

Section 401a. In the united states a 401 a plan is a tax deferred retirement savings plan defined by subsection 401 a of the internal revenue code. Section 401 certification the clean water act cwa gives states and authorized tribes the authority to grant deny or waive certification of proposed federal licenses or permits that may discharge into waters of the united states. But does not include any contract or certificate issued after december 31 1962 which is transferable if any person other than the.

Under the plan the employer must make contributions but the employee may make contributions. Complying with the requirements of 401 a and related sections is what makes a plan qualified. A requirements for qualificationa trust created or organized in the united states and forming part of a stock bonus pension or profit sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries shall constitute a qualified trust under this section 1.

Those contributions are either based on a percentage of income or even a certain dollar amount. Under section 401 of the clean water act cwa a federal agency may not issue a permit or license to conduct any activity that may result in any discharge into waters of the united states unless a section 401 water quality certification is issued verifying compliance with water quality requirements or certification is waived. Epa finalizes the cwa section 401 certification rule press release.

401 a plans are offered by governmental entities and other public employers like schools and non profit entities. Code section 401 a is the key internal revenue code section that provides in conjunction with code section 501 the trusts of qualified employee benefit plans with their tax exempt status. A 401 a plan is an employer sponsored money purchase retirement plan that allows dollar or percentage based contributions from the employer the employee or both.

Learn more about 401 certification. The terms of a 401 a plan are set by employers and are highly customizable. Under internal revenue code section 414 d a governmental plan is an irc section 401 a retirement plan established and main review government plans under internal revenue code section 401 a who the plans cover the types of plans and information updates.