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Taxpayers who participate in their employer's qualified retirement plans generally receive special tax treatment. All of the following represent benefits associated with these plans EXCEPT:
Taxpayers who participate in their employer's qualified retirement plans generally receive special tax treatment. All of the following represent benefits associated with these plans EXCEPT:
Pre-tax contributions reduce the taxpayer's adjusted gross income.
Contributions and earnings grow tax-deferred until distributed.
Distributions of earnings are tax-free after the taxpayer reaches age 59 .
Accounts possibly may be transferred to an IRA.
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