Is a 403(b) plan a "qualified Plan"?

[Jim Chad]

If yes, why?

If no, why not?

[jpod]

It depends on the meaning intended to convey by the use of the phrase "qualified plan." I think when most "ERISA people" use it they mean a plan described in IRC Section 401(a), which would not include a plan described in 403(b). On the other hand, many people in the financial services industry often refer to all tax-favored retirement vehicles, including IRAs, as "qualified," or the money held in them as "qualified assets."