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  • 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.

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  • ROTH IRA

    A nondeductible IRA that allows tax-free withdrawals when certain conditions are met. Income and contribution limits apply.

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  • ROLLOVER

    A method by which an individual can transfer the assets from one retirement program to another without the recognition of income for tax purposes. The requirements for a rollover depend on the type of program from which the distribution is made and the type of program receiving the distribution.

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