Content Last Revised: 6/10/53 ---DISCLAIMER---

CFR	Code of Federal Regulations Pertaining to ESA

Title 29

Labor

Chapter V

Wage and Hour Division, Department of Labor

Part 549

Requirements of A ``Bona Fide Profit-Sharing Plan or 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.