Keogh Plans Can Be Both Defined-Contribution and Defined-Benefit Plans

question 92

True/False

Keogh plans can be both defined-contribution and defined-benefit plans.

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Definitions:

Revocation

The act of withdrawing, canceling, or repealing a statement, offer, or privilege, which can pertain to legal contracts, licenses, or wills.

Acceptance

In contract law, the agreement by a party to the terms of an offer, forming a contract.

Capacity

In legal terms, the ability to understand the nature and effects of one's actions, specifically in forming contracts or executing wills.

Assignable

Refers to the capability of transferring rights or interests in a contract or financial instrument to another party.