Keogh Plan

Definition - What does Keogh Plan mean?

Keogh Plan is a qualified retirement account for self-employed individuals. Contributions are limited to the lesser of 20% of their gross income or $50,000.

Testopedia explains Keogh Plan

Doctors, accountants and other self employed individuals may open up Keogh plans to save for their retirement. In order to open a Keogh the individual must have self employed income. If the self employed individual has full time employees they must make a contribution for their employees at the same rate as the contribute for themselves.

Connect with us

Testopedia on Linkedin
Testopedia on Linkedin
"Testopedia" on Twitter

Sign up for Testopedia's Free Newsletter!