You can contribute the money you distribute from a QTP to an IRA, but it is not a tax-free rollover and is subject to the annual IRA contribution limits. In 2013, you can contribute up to $5,500 to an IRA, or $6,500 if youâre 50 or older. You cannot contribute more than your gross income.ou can contribute the money you distribute from a QTP to an IRA, but it is not a tax-free rollover and is subject to the annual IRA contribution limits. In 2013, you can contribute up to $5,500 to an IRA, or $6,500 if youâre 50 or older. You cannot contribute more than your gross income.
Best Answer: Status quo is a Latin term meaning the present, current, existing state of affairs. To maintain the status quo is to keep things the way they presently are. Compare it with status quo ante, meaning the state of things as it was before.. Source(s): Cristi@n Â· 10 years ago.
DEFINITION of 'Quid Pro Quo'. A Latin phrase meaning something for something. This term is typically used in financial circles to describe a mutual agreement between two parties in which each party provides a good or service in return for a good or service. Quid Pro Quo Contribution.