It is still a non-qualified plan.
A qualified retirement plan is an employer's plan to benefit employees that meets specific Internal Revenue Code requirements. These plans may qualify for special tax benefits, such as tax deferral for employer contributions. Your contributions may also qualify for tax deferral.
Examples of qualified plans are 401(k) plans and IRA plans.
Non-qualified plans are those that are not eligible for tax-deferral benefits. Public sector plans are nonqualified plans. If it is not an employer plan it is a nonqualified plan
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
