07/15/2015

SELF-EMPLOYED RETIREMENT PLANS

In the past, the terms “Keogh plan” and “H.R. 10 plan” were used to distinguish a retirement plan established by a self-employed individual from a plan established by a corporation or other entity. However, self-employed retirement plans are now generally referred to by the name of the particular type of plan used, such as SEP IRA, SIMPLE 401(k) or self-employed 401(k). The contribution amount is indexed annually for inflation.

Contributor: Cara Ross