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Code of Federal Regulations Pertaining to U.S. Department of Labor |
| Labor |
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| Wage and Hour Division, Department of Labor |
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| Requirements of A ``Bona Fide Profit-Sharing Plan or Trust'' |
29 CFR 549.3 - Distinction between plan and trust.
- Section Number: 549.3
- Section Name: Distinction between plan and trust.
As used in this part:
(a) Profit-sharing plan means any such program or arrangement as
qualifies hereunder which provides for the distribution by the employer
to his employees of their respective shares of profits;
(b) Profit-sharing trust means any such program or arrangement as
qualifies under this part which provides for the irrevocable deposit by
the employer of his employees' distributive
shares of profits with a trustee for deferred distribution to such
employees of their respective shares.
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