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MISSISSIPPI [RESOURCES: RESOURCES TO BE EXCLUDED] Revised 10-01-09

Volume III | Chapter 5

Simple retirement account IRA Employer-based IRA (to which employers and employees contribute) available only to small businesses. Section 408(p) IRS Code Simplified Employee Pension Plan (SEP) Employer-sponsored plan available only to small businesses; allows employer to contribute to employee accounts that function as IRAs and are subject mostly to IRA rules. Generally ceased to apply in 1996. Section 408(k) IRS Code Roth IRA Same as IRA, except that qualified distributions are tax exempt. Section 408A IRS Code Eligible 457(b) Plan Funded plan offered by state and local governments or unfunded plan offered by nonprofit organizations. Section 457(b) IRS Code 501(c)18 Plan Plan offered mostly by unions. Had to be set by June 1959 and are now largely obsolete. Section 501(c)(18) Federal Thrift Savings Plan Plan offered by the federal government to its employees Section 8439 of Title 5 USC Volume III | Chapter 5 5207