Retirement Savings

Locked-in Retirement Account (LIRA)
A Locked-in Retirement Account (LIRA) is a pension savings account in Canada designed to hold funds until retirement.
Nonqualified Plan
A nonqualified plan is an employer-sponsored retirement plan that provides specialized benefits to select employees, primarily high-paid executives, while exempting the plan from certain ERISA guidelines.
Pension Plan
A pension plan is an employee benefit where employers commit to contribute funds for employee retirement benefits.
Qualified Retirement Plan
An employer-sponsored retirement plan that meets Internal Revenue Code requirements and offers tax benefits.

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