Employer-sponsored Retirement II pt 4
A type of keogh plan where the maximum annual contribution is limited to the individual's annual earnings or $220,000.
Defined benefit (plan)
A type of keogh plan where the maximum annual contribution is limited to the individual's annual earnings, up to $55,000.
Defined contribution (plan)
____ plans, also known as HR-10 plans, are qualified retirement plans for self-employed individuals. This includes sole-proprietors, partnerships, physicians, attorneys and farmers.
Keogh (HR-10)
____ working for a self-employed individual who has a Keogh plan must be included in the Keogh plan if they: Are at least 21 years old, Have been employed for at least one year and Work over 1,000 hours a year.
employees
Contributions from Keogh plans are tax-deductible as long as the maximum contribution limits are ______.
not surrpassed
Dividends and interest from Keogh plans are _____.
tax deferred