Keogh Plan Hr


Definition of "Keogh plan (hr-10)"

Act first passed in 1962 that permits the self-employed individual to establish his or her own retirement plan. This individual can make nondeductible voluntary contributions and tax-deductible contributions subject to a maximum limit of 25% of earned income up to $30,000 for a defined contribution plan after the reduction for the contribution to the Keogh Plan. This is an equivalent rate of 20% of earned income prior to the contribution to the Keogh Plan.

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Frozen Keogh Plan

Plan to which contributions are not being made, but which has not been formally terminated. The freezing of a keogh plan (hr-10) may occur in the foll ...

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Population Decrements

Reduction in a retirement plan's population resulting from the death, disability, and termination of its members. ...

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