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#1050728 - 09/25/08 07:46 PM Defined Benefit Plan Account
MiamiGirl Offline
Member
Joined: Jun 2006
Posts: 63
MIAMI, FLORIDA
Does anyone have information on opening a Defined Benefit Plan Account?

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#1052547 - 09/29/08 02:34 PM Re: Defined Benefit Plan Account MiamiGirl
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
A defined benefit plan is a type of qualified retirement plan. It would require a written plan agreement and the naming of a fiduciary; e.g. a bank with trust powers.

A QRP might purchase a time deposit as an investment or open a checking account as a method of making distributions. Like any other customer, you would require evidence of existence, a taxpayer identification number, etc.
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