Describe the major differences between a Defined Benefit Plan and a Defined Contribution Plan.

Please respond to each question in your own words. Avoid sentence fragments. Use correct grammar and punctuation.
Describe the major differences between a Defined Benefit Plan and a Defined Contribution Plan.
What does it mean for a plan to be ‘qualified’?
If a plan is qualified, how are contributions taxed?
If a plan is qualified, how are distributions taxed?
What is ERISA? Describe the major provisions.
What are the disadvantages of a qualified plan?
What is a QDRO?
Explain how vesting works. Provide an example.

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