following: http://www.investopedia.com/ask/answers/206.asp & http://ftmdaily.com/retirement-minute/qualified-vs-non-qualified-retirement-plans/ & https://www.youtube.com/watch?v=-okOZu1_OHU &...

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    For an employee, selecting the best retirement plan is one of the crucial decisions that he or she has to take. In fact, one must carefully select the alternatives that one has in order to carry out the best implications of the retirement plan that one has. In this context, two main types of retirement plans are generally recognized and both come with different tax benefits. These are qualified and non qualified plans and the major difference between the two is that qualified plan of retirement follows the guidelines published by the Employee Retirement Income Security Act of 1974. It is basically covered by the law of ERISA and gives tax benefits like 401(k) plan or 403(b) plan etc. Non qualified plans are basically designed for the executives whose job profile is big enough not to be covered by general qualified plans. Thus, the tax benefits that qualified plans offer are not availed by the non qualified plan holder because these plans are not enlisted in ERISA.
    Employers invest and guarantee for each member in a defined-benefit...