HR 10 Plan
Definition - What does HR 10 Plan mean?
HR 10 Plan is a qualified retirement account for self-employed individuals. Contributions are limited to the lesser of 20% of their gross income up to the annual maximum dollar amount.
Testopedia explains HR 10 Plan
HR-10, or KEOGH plans, are qualified plans available to self employed, but not incorporated, business owners. The maximum contribution to the Keogh is limited to the lesser of 20% of the individual's gross income, up to the maximum contribution set by the IRS. If the business owner chooses to make a contribution to his HR-10 plan he must also make the same percentage contribution to all eligible employee's plans.