| 104(a) - Structured Settlement, Subsection Unspecified | OLI_QUALPLN_STRUCSTL | 61 | A structured settlement complying with the regulations of provision 104(a) of the
Internal Revenue Code. | |
| 401(a) | OLI_QUALPLN_401A | 44 | Type of Qualified plan set up by an employer that meets the conditions of section 401(a)
of the IRC. | |
| 401(g) - Non-transferable Qualified Annuity | OLI_QUALPLN_401G | 43 | A non-transferable annuity, owned by a qualified plan trust. Avoids surrender charges
that would be incurred by going to an IRA. | |
| 401(k) | OLI_QUALPLN_401K | 2 | An employer sponsored Qualified retirement plan which allows employees to designate a
certain percentage of their paycheck to be invested into a deferred annuity contract. These
contributions are reduced from their compensation prior to tax withholding (pre-tax) and
remain excludible from taxable income until a distribution is made. In addition to pre-tax
contributions, some plans may allow after tax contributions as well. | |
| 403(a) - Qualified Employee Annuity Plan | OLI_QUALPLN_EMPANN | 42 | 403a A qualified employee annuity plan (section 403(a) plan) | |
| 403(b) - Tax Sheltered Annuity | OLI_QUALPLN_403B | 3 | Referred to as Tax Sheltered Annuities (TSAs) or Tax Deferred Annuities (TDAs). In order
to be eligible for a 403(b) plan the organization must be a tax exempt entity under 501(c)
(3) which includes hospitals, social service agencies and public schools. 403(b) allows
employees to designate a certain percentage of their paycheck to be invested into a
deferred annuity contract. These contributions are reduced from their compensation prior to
tax withholding (pre-tax) and remain excludible from taxable income until a distribution is
made. | |
| 408(k) - SARSEP | OLI_QUALPLN_SARSEP | 40 | 408(k) - Salary Reduction Simplified Employee Pension plan (SARSEP) is a Simplified Employee Pension plan (SEP) set up before 1997 that includes a salary reduction arrangement. Instead of establishing a separate retirement plan, in a SARSEP employers make contributions to their own Individual Retirement Account (IRA) and the IRAs of their employees, subject to certain percentages of pay and dollar limits. An arrangement under which an employer makes contributions to an employee's individual retirement account (IRA), or a self-employed person contributes to his own plan. | |
| 408(k) - SEP | OLI_QUALPLN_SEP | 8 | Simplified Employee Pension plan (SEP). Established to make retirement plans more available to employees of small businesses (self employed individuals can also use a SEP). The employee establishes a retirement account or annuity into which the employer will deposit contributions for the employee. Employers may establish a SEP because they are easy to administer and reduce the paperwork normally associated with other qualified plans. | |
| 412(i) | OLI_QUALPLN_412I | 69 | Type of Qualified plan that meets the conditions of section 412(i) of the IRC. | |
| 414(h) | OLI_QUALPLN_414H | 67 | Type of Qualified plan set up by an employer for public employees that meets the
conditions of section 414(h) of the IRC. | |
| 415(m) | OLI_QUALPLN_415M | 49 | Qualified government excess benefit | |
| 419 - Welfare Benefit Plan | OLI_QUALPLN_419 | 70 | Welfare benefit trust (WBT) plans fall under the Voluntary Employee Benefit Association
(VEBA) category as covered under Internal Revenue Code Section 501(c)(9). Typically,
Section 419A plans are marketed as a severance plan, a death benefit only (DBO) plan, or
sometimes both. | |
| 457 Deferred Compensation Plan | OLI_QUALPLN_457 | 4 | 457 Deferred Compensation plans, including 457(b) and 457(f) plans | |
| 501(c) | OLI_QUALPLN_501 | 48 | A 501(c) is a tax-exempt nonprofit organization in the United States. | |
| Company Owned policyholder fund | OLI_QUALPLN_CMPOWNED | 102 | SA specific. Company policyholder fund, in terms of section 29A of the South African Income Tax Act (Four Fund approach) | |
| Conforming to State President Regulation | OLI_QUALPLN_CONFPRESREG | 14 | | |
| Deferred Profit Sharing Plan | OLI_QUALPLN_DPSP | 25 | | |
| Defined Benefit | OLI_QUALPLN_CASHDEFBEN | 35 | This plan type may also be known as a Cash Balance, Defined Benefit plan. | |
| Defined Contribution | OLI_QUALPLN_CASHDEFCONT | 34 | This plan type may also be known as a Cash Balance, Defined Contribution plan. | |
| Endowment | OLI_QUALPLN_ENDOWMENT | 105 | An endowment policy is a life insurance contract designed to pay a lump sum after a
specified term (on its 'maturity') or on earlier death. There is no tax payable
on maturity. | |
| ESOP (Employee Stock Ownership Plan) | OLI_QUALPLN_ESOP | 12 | | |
| Foreign National | OLI_QUALPLN_FOREIGN | 37 | | |
| Governmental | OLI_QUALPLN_GOV | 46 | Governmental | |
| Group Registered Savings Plan | OLI_QUALPLN_GRSP | 26 | | |
| H.R. 10 | OLI_QUALPLN_HR10 | 13 | | |
| IAAC - Income Averaging Annuity Contract | OLI_QUALPLN_IAAC | 116 | IAAC - refers to an income-averaging annuity contract and refers to certain contracts between an individual and a person licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada an annuities business or a corporation licensed or otherwise authorized under the laws of Canada or a province to carry on the business of offering to the public its services as trustee. For more information, see the definition of that expression in subsection 61(4) of the Act. However, note that the availability to purchase an IAAC was terminated on November 13, 1981 (or before 1982, if an agreement in writing was entered into before November 13, 1981). | |
| Individual policyholder fund | OLI_QUALPLN_INDIVIDUAL | 101 | SA specific. Individual policyholder fund, in terms of section 29A of the South African
Income Tax Act (Four Fund approach) | |
| IPP - Individual Pension Plan | OLI_QUALPLN_IPP | 118 | An individual pension plan or IPP is a Canadian retirement savings vehicle. An IPP is a one-person maximum defined benefit pension plan (DB plan) which allows the plan member to accrue retirement income on a tax-deferred basis. As such, an IPP must conform to the Canadian Income Tax Act (ITA) and regulations (ITR) as well as the requirements of the Canada Revenue Agency (CRA) with respect to defined benefit pension plans. It is possible for an IPP to be a combination plan offering both defined benefits and defined contribution pensions | |
| IRA - Education | OLI_QUALPLN_EDIRA | 7 | | |
| IRA - Roth | OLI_QUALPLN_ROTHIRA | 6 | A Roth IRA is an individual retirement account or annuity. It differs from traditional
IRAs in that contributions are after-tax dollars. The amount of the contribution may be
reduced or eliminated depending on the individual's earned income. If assets remain in
the ROTH IRA for five or more years and a qualified distribution is taken the entire amount
will not be taxed as ordinary income. | |
| IRA - Roth Conversion | OLI_QUALPLN_ROTHCONVIRA | 29 | | |
| IRA - Spousal | OLI_QUALPLN_IRASPOUSAL | 33 | IRA Spousal is an IRA funded by a married taxpayer in the name of his or her spouse who
has less than $250 in annual compensation. The couple must file a joint tax return for the
year of contribution. The working spouse may contribute up to a specified amount per year
to the Spousal IRA and up to a specified amount per year to his or her own IRA. | |
| IRA - Stretch | OLI_QUALPLN_IRASTR | 53 | A "Stretch IRA" is not a plan or a product, it is a method of distributing
death benefit proceeds of a qualified IRA. The concept is that once a contract owner dies,
the beneficiary is allowed to continue to defer, "stretch", the death benefit
proceeds over a longer period of time rather than having to distribute the entire death
benefit proceeds immediately. This also allows them to spread out any taxable income over a
number of years. There is a minimum amount that a beneficiary must distribute each year in
order to avoid a 50% penalty tax. | |
| IRA - Traditional (408(b)) | OLI_QUALPLN_IRA | 5 | A tax-deferred retirement account for an individual that permits individuals to set aside
up to a pre-determined amount per year, with earnings tax-deferred. Any amount of the
contribution which qualifies as a deductible contribution can be used to reduce some of an
individual's taxable income in the year the contribution is made. If an individual
participates in a qualified retirement plan, their annual income will determine the amount
of the contribution which can be deemed as a deductible contribution. The difference
between maximum amount allowed by law and the deductible contribution would be deemed a
nondeductible contribution. | |
| Keogh / HR10 | OLI_QUALPLN_KEO | 50 | Keogh plans are tax-deferred retirement savings for people who are self-employed. Also
called a HR10. | |
| LIF - Life Income Fund | OLI_QUALPLN_LIF | 21 | | |
| LIRA - Locked-in Retirement Account | OLI_QUALPLN_LIRA | 111 | | |
| LRIF - Locked-in Retirement Income Fund | OLI_QUALPLN_LRIF | 114 | | |
| LRSP - Locked-in RRSP | OLI_QUALPLN_LRSP | 112 | Locked-in RRSP (Registered Retirement Savings Plan) | |
| Money Purchase | OLI_QUALPLN_MONEYPURCH | 39 | This is a type of a defined contribution plan. IRS provides guidelines as to contribution
limits and allowable distributions from the plan. These are employer contribution type of
plans. | |
| Nonconforming to State President Regulation | OLI_QUALPLN_NONCONFPRESREG | 15 | | |
| Non-Qualified | OLI_QUALPLN_NONE | 1 | An individual taxpayer is allowed to contribute after tax contributions (referred to as
their cost basis) into a deferred annuity contract. Any gain/earning on these contributions
remain tax deferred until a distribution is taken. Depending on when the contract was
established determines whether cost basis or gain/earnings (ordinary income) is distributed
first. Any distributions taken prior to age 59 1/2 maybe subject to a 10% premature
distribution unless an exception under 72(q) is met. | |
| Non-registered | OLI_QUALPLN_NREG | 122 | The funds used for the purchase of the annuities are unregistered. For annuities purchased with non-registered funds, only the interest component of the payment is taxable. Further classification of the type of non-registered funds is unknown | |
| Non-registered / Non-prescribed | OLI_QUALPLN_NREGNPRES | 119 | The funds used for the purchase of the annuities are unregistered. For annuities purchased with non-registered funds, only the interest component of the payment is taxable.Payments from a non-prescribed annuity are a blend of interest and capital. The interest element is taxed as it accrues; therefore the taxation will be higher in the early years of the annuity and decrease over the life of the contract as the capital is paid out. | |
| Non-registered / Prescribed | OLI_QUALPLN_NREGPRES | 120 | The funds used for the purchase of the annuities are unregistered. For annuities purchased with non-registered funds, only the interest component of the payment is taxable.Payments from a prescribed annuity are treated as a level blend of interest and capital and the interest element is taxed on a level basis spread out over the life of the contract. | |
| Other | OLI_OTHER | 2147483647 | | |
| Pension Fund | OLI_QUALPLN_PENSION | 106 | A pension fund is a pool of assets forming an independent legal entity that are bought
with the contributions to a pension plan for the exclusive purpose of financing pension
plan benefits. | |
| Pension Trust Plan | OLI_QUALPLN_PENSTRST | 31 | A Pension Trust allows a trustee (business owner) to purchase one contract for each participant. Trustee is listed as owner and beneficiary. We do not do any tax reporting or record keeping for the plan. Only the owner (Trustee) has authorization for changes and information. | |
| Preferred Compensation | OLI_QUALPLN_PREFCOMP | 18 | | |
| Preservation Fund - Pension | OLI_QUALPLN_FUNDPENSION | 16 | | |
| Preservation Fund - Provident | OLI_QUALPLN_FUNDPROVIDENT | 17 | | |
| PRIF or PRRIF - Prescribed Reg Ret Income Fund | OLI_QUALPLN_CANPRIF | 52 | PRIF or PRRIF - Prescribed Registered Retirement Income FundThe contract was sold as a Prescribed Registered Retirement Income Fund in Saskatchewan, Canada. | |
| Profit Sharing Plan | OLI_QUALPLN_PROFITSHARING | 38 | This is a type of a defined contribution plan. The employer makes contributions on behalf
of employees based on profits earned or a predetermined amount depending on how the plan is
structured. | |
| Provident Fund | OLI_QUALPLN_PROVIDENT | 107 | A fund for employees to increase their retirement capital with tax advantages for both
the employer and employee. | |
| PVT | OLI_LU_QUALPLAN_54 | 54 | | |
| Qualified, type unspecified | OLI_QUALPLAN_QUAL | 45 | The product is qualified, but the plan type is unknown. | |
| RDSP - Registered Disability Savings Plan | OLI_QUALPLN_RDSP | 117 | A registered disability savings plan (RDSP) is a savings plan that is intended to help parents and others save for the long term financial security of a person who is eligible for the disability tax credit (DTC). | |
| Registered | OLI_QUALPLN_REG | 121 | For annuities purchased with Registered (or Pension) funds, all income is 100 percent taxable. Further classification of the type of registered funds is unknown. | |
| Registered Home Ownership Savings Plan | OLI_QUALPLN_RHOSP | 24 | | |
| RESP (Registered Education Savings Plan) | OLI_QUALPLN_RESP | 9 | | |
| RESP Family Plan | OLI_QUALPLN_RESPFAMILY | 28 | | |
| Risk Policy Fund | OLI_QUALPLN_RISK | 109 | SA specific. Risk Policy Fund, in terms of section 29A of the South African Income Tax Act (Five Fund approach) as amended on the 1 January 2016. | |
| RLIF - Restricted Life Income Fund | OLI_QUALPLN_RLIF | 113 | | |
| RLSP - Locked-in Reg Retirement Savings Plan | OLI_QUALPLN_RLSP | 110 | RLSP - Locked-in Registered Retirement Savings Plan | |
| Roth 401 (k) | OLI_QUALPLN_ROTH401K | 77 | Roth 401 (k) combines the features of a Roth individual retirement account with some of
the attributes of a traditional 401(k) plan. Contributions to a Roth-k are made with
after-tax dollars and submitted through payroll deduction. The money in the account grows
tax-free and all withdrawals after age 59 ½ are tax-free as long as the account has
been open for 5 years. Unlike Roth IRAs, designated Roth contributions are not subject to
gross income limitations on being able to make contributions. | |
| Roth 403 (b) | OLI_QUALPLN_ROTH403B | 78 | Roth 403 (b) combines the features of a Roth individual retirement account with some of
the attributes of a traditional 403(b) plan. Contributions to a Roth-b are made with
after-tax dollars and submitted through payroll deduction. The money in the account grows
tax-free and all withdrawals after age 59½ are tax-free as long as the account has
been open for 5 years. Unlike Roth IRAs, designated Roth contributions are not subject to
gross income limitations on being able to make contributions. | |
| ROTH 457 | OLI_QUALPLN_ROTH457 | 80 | ROTH 457 contributions pay taxes upfront when money goes into the plan. This allows tax-free withdrawals - as long as the Owner is at least 59½, and there are no withdrawals from the ROTH account for at least five years after the first ROTH contribution is made to the plan.The Owner can choose to allocate part or all of their salary deferral to the ROTH or all or part of their salary deferral to their traditional 457 pre-tax account. | |
| RPP - Registered Pension Plan | OLI_QUALPLN_RPP | 115 | A registered pension plan (RPP) is an arrangement by an employer or a union to provide pensions to retired employees in the form of periodic payments. The Income Tax Act provides deductions in respect of both employee and employer contributions. Contributions and investment earnings are tax-exempt until such time as benefits commence to be paid. | |
| RRIF (Registered Retirement Income Fund) | OLI_QUALPLN_RRIF | 11 | | |
| RRSP (Registered Retirement Savings Plan) | OLI_QUALPLN_RRSP | 10 | | |
| RRTF | OLI_QUALPLN_RRTF | 23 | REER Rente a Terme Fixe / Retirement Savings Fixed Term.) | |
| S.I.M.P.L.E. Qualified Plan - 401(k) | OLI_QUALPLAN_SIM401K | 68 | A qualified 401(k) Savings Incentive Match Plan for Employees (SIMPLE) whereby employees
may save for retirement by deferring salary on a pre-tax basis up to a specified limit
based on compensation -- IRS Section 415 Limit is the lesser of 100% of compensation or a
specified amount based on tax year. Mandatory employer match is 1% to 3% of salary for
match or 2% for all. Loans are allowed; Hardship Withdrawals are allowed. | |
| S.I.M.P.L.E. Qualified Plan - 408(b) | OLI_QUALPLAN_SIMPLE | 30 | A qualified IRA Savings Incentive Match Plan for Employees (SIMPLE) whereby employees may
save for retirement by deferring salary on a pre-tax basis up to a specified limit based on
compensation -- IRS Section 415 Limit is the lesser of 100% of compensation or a specified
amount based on tax year, excluding EE deferrals. Mandatory employer match is 1% to 3% of
salary for match or 2% for all. Loans are not allowed, Hardship Withdrawals are allowed
only under special purpose distribution provisions. | |
| Spousal Group Registered Savings Plan | OLI_QUALPLN_SPOUSALGRSP | 27 | | |
| Spousal RRIF | OLI_QUALPLN_SPOUSALRRIF | 22 | | |
| Spousal RRSP | OLI_QUALPLN_SPOUSALRRSP | 20 | | |
| Target Benefit Plan | OLI_QUALPLN_TARGETBEN | 36 | A target benefit plan is a cross between a defined benefit plan and a money purchase
pension plan. It is similar to a defined benefit plan in that the annual contribution is
determined by the amount needed each year to fund the "targeted" benefit at
retirement. It is similar to a defined contribution plan in that employer contributions and
any investment gains or losses either increase or decrease the benefits allocated to
individual participant accounts. The benefit at retirement is based upon the value of the
participant's account. | |
| Texas ORP - Optional Retirement Program | OLI_QUALPLN_TXORP | 41 | The Optional Retirement Program was created for new full-time Faculty, Professional
Librarians and certain Administrators (Code 1000) as an alternative to the Teacher
Retirement System of Texas. This program is subject to all applicable provisions of
sections 403(b) and 415 of the U.S. Internal Revenue Service Code of 1986 as amended. If
you are eligible for this program for the first time you have 90 calendar days from your
date of eligibility (usually the date of employment) to enroll in the Optional Retirement
Program in lieu of the Teacher Retirement System of Texas. This option to enroll is a
one-time, permanent decision, which remains in effect throughout your working career in
public education in the State of Texas. If you fail to enroll in the Optional Retirement
Program before the expiration of the 90-day enrollment period, you will be automatically
and permanently enrolled in the Teacher Retirement System of Texas. Under the Optional
Retirement Program you select a company authorized by the University of Texas System. The
University reduces your monthly salary by 6.65% before taxes. The State of Texas
contributes an amount equivalent to 6.0% of your monthly salary. These funds are deposited
into your account with the selected company. | |
| TFSA (Tax Free Savings Account) | OLI_QUALPLN_TFSA | 79 | TFSA, or CELI in French, is a flexible, registered general-purpose savings vehicle
available since January 1st, 2009 that allows Canadians to earn tax-free investment
income | |
| Unknown | OLI_UNKNOWN | 0 | | |
| Untaxed policyholder fund | OLI_QUALPLN_UNTAXED | 100 | SA specific. Untaxed policyholder fund, in terms of section 29A of the South African
Income Tax Act (Four Fund approach) | |
| Variable Retirement Income Fund | OLI_QUALPLN_VARINCOME | 108 | Income fund where the amount of income is a percentage of the value of the Fund. This
percentage can be varied from 1 year to the next | |
| VEBA/501(c)(9) Trust | OLI_QUALPLN_VEBATRUST | 32 | A VEBA is a tax-exempt entity created pursuant to Internal Revenue Code 501 (c) (9), and may include health benefit plans, life insurance, disability insurance, accident insurance, vacation, or other employee benefits. A VEBA can be a trust, corporation, or association to which employer and/or employee contributions are made. | |