||A condition for determining plan qualification under ERISA. Requires that plan benefits do not favor highly compensated employees .
|Non-Qualified Retirement Plan
||Plans that provide benefits in excess of those possible within qualified plans, or otherwise do not meet IRS requirements, and therefore do not qualify for favorable tax treatment.
||A noncontributory plan is a retirement plan that does not require its members to make contributions in order to earn service credit.
||A nonservice-connected death is determined to be unrelated to a members employment. Only the surviving spouse or minor children of a member with at least five years of service credit are eligible to receive a continuance allowance provided by a nonservice connected death.
||A nonservice-connected disability is an injury or disease, not related to a member's employment, that permanently prevents her from performing the duties of his/her job. Only contributory members with at least 5 years of service credit are eligible to receive nonservice-connected disability benefits.
||After-tax or nontaxable contributions are member contributions made through payroll deductions prior to 12/23/96 (or any lump-sum payment other than a rollover made by a member regardless of date) and taxed at the time they were made. Nontaxable contributions are not subject to taxation when a member withdraws them or retires, although the interest earned on them is taxable.
|Normal Retirement Age (NRA)
||The age as established by a plan, when retirement normally occurs. Since unreduced Social Security benefits currently are available at 65, that is the most common normal retirement age. offset retirement formula A formula by which some part of the employees Social Security benefit is subtracted from a defined amount, to determine the benefit from the retirement plan. The amount of offset is limited by IRS regulations.