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Payroll Glossary - Q
Qualified Plan: A benefit plan that meets Internal Revenue Service qualification requirements for certain tax-favored treatments.
Qualified Transportation Fringe: Certain employer provided transportation benefits that are non taxable to the employees, up to certain annually inflation adjusted limits (i.e., transit passes, vanpools, parking).
Qualifying Event: One of several sppecfic events that can result in the loss of group health insurance coverage for employees or dependents and may entitle them to continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)