Which of the Following Statements Regarding Keogh Plans Is False

question 2

Multiple Choice

Which of the following statements regarding Keogh plans is false?

• A) Keogh plans provide a tax-deferred retirement savings option for self-employed individuals.
• B) Keogh plans must be administered by an independent trustee.
• C) Keogh plans can be either defined-benefit or defined-contribution plans.
• D) A self-employed person with a Keogh plan is not required to provide retirement benefits to his or her employees through the plan.

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Definitions:

Evolved System

A complex structure or entity that has developed gradually over time through a process of evolution, adaptation, or innovation.

Attachment Relationships

Emotional bonds that form between individuals, such as those between children and their caregivers, which can influence the individuals' behavior and development.

Substitute Mothers

Individuals or entities that provide maternal care and nurturing in the absence or inadequacy of a child's biological mother.

Unfamiliar Caregiver

A person who provides care or assistance to someone but is not known previously by the individual receiving care, often leading to adjustments in behavior or attachment.