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Financial Planner

Category - Retirement Savings and Income Planning

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Which of the following defines a plan that may provide tax advantages to either the plan sponsor or beneficiary, but not both?

Defined benefit
Defined contribution
Qualified plan
Non-qualified plan

Explanation

Answer: D - A qualified plan provides tax benefits to both the plan sponsor and the beneficiary. It can be either a defined benefit plan, a defined contribution plan, or a profit sharing plan.

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