Life · Chapter 11 · Small Employer Plans
Keogh Plan (HR-10)
Definition
Qualified plan for self-employed individuals and unincorporated businesses (from the Self-Employed Individuals Retirement Act of 1962). The owner participates as an "employee" — but ONLY if eligible employees are included too. May be defined contribution OR defined benefit; same limits, participation, coverage, and nondiscrimination rules as corporate plans.
Exam tip
Keywords "self-employed" or "unincorporated" → Keogh. Incorporated businesses don't need one.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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