Qualified plans

Which type of retirement account does not require the owner to start taking distrubtions at age 72

ROTH Ira

What is the primary purpose of a 401(k) plan?

Retirement

For a retirement plan to be qualified, it must be designed for the benefit of

Employees

All of the following would be different between qualified and nonqualified retirement plans except

Taxation on accumulation

An employer has sponsored a qualified retirement plan for its employees where the employer will contribute money whenever a profit is realized. What is this called?

Profit sharing plan. A profit sharing plan is one where the employer will contribute monies into an employee's retirement plan when the company shows a profit. The others are all qualified plans, but company profit isn't an issue with them.