Long-Term Incentive Plan Definition and Types

What is a Long-Term Incentive Plan? A long-term incentive plan (LTIP) is a compensation program designed to reward employees for achieving specific long-term goals and objectives. Unlike short-term incentive plans, which focus on immediate performance targets, LTIPs are designed to motivate and retain employees over an extended period of time. …

Home Buyers Plan HBP What It is How It Works

What is the Home Buyers Plan (HBP)? The Home Buyers Plan (HBP) is a program offered by the Canadian government that allows individuals to withdraw funds from their registered retirement savings plans (RRSPs) to purchase or build a qualifying home. This program is specifically designed to assist first-time homebuyers in …

After-Tax Contribution Definition Rules and Limits

What are After-Tax Contributions? After-tax contributions refer to the money that individuals contribute to their retirement savings accounts after they have already paid taxes on it. Unlike pre-tax contributions, which are made with pre-tax dollars and reduce taxable income, after-tax contributions are made with post-tax dollars and do not provide …