Is A 401K A Qualified Retirement Plan? 
The private sector generally offers defined contribution plans like 401 -LRB- k -RRB- s that are pretax contributions and tax deferred accumulations . Upon retirement , the distributions are taxable as ordinary income . A 410 -LRB- k -RRB- is a defined contribution plan is sanctioned under Employee Retirement Income Security Act -LRB- ERISA -RRB- of 1974 . 