When it comes to planning for retirement, the tax-advantages of qualified pension plans are hard to beat, for example:

• Growth inside a qualified pension plan is not taxable until distributed.
• Within limits, contributions made by an employer to a plan are deductible.
• Allowable employee contributions are not taxable until distributed.

The kinds of plans available are numerous, from the traditional defined benefit pension plan, the popular defined contribution 401(k) plan, to the newer simple plans. What all these plans have in common, however, is that they have to be sponsored by an employer.

In addition, purchasing life insurance inside a qualified plan may provide a meaningful death benefit to the participant's heirs while minimizing the current out-of-pocket costs to the participant.

Product availability and features may vary by state.

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