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.
Popular Insurance Terms
Endorsement to a property insurance policy providing all risks coverage for insured property. Excluded properties include residences, farms, and manufacturing properties. This endorsement ...
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Annual report to policyholders of certain cash value life insurance products and annuities to inform them of the value of the investment portion of their contracts. Buyers of whole life ...
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Restriction on the benefit that owners and other highly compensated individuals may receive from a qualified pension or other employee benefits. The U.S. Tax Code requires that benefits ...
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