The plan may provide for employer contributions, as in a pension or profit-sharing plan, as well as employee contributions. Employers can deduct plan contributions made on behalf of eligible employees on the business's tax return as business expenses. Plan earnings are not taxed until withdrawn. A trust that allows a surviving spouse to receive income generated from the trust, but actual distribution of the trust's property is made to other beneficiaries such as the grantor's children. A payment representing an employee's interest in a qualified retirement plan.
Payment can be in installments as long as they are made within a single tax year.
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