A Keogh Plan Must Be Established as a Defined Contribution

question 91

True/False

A Keogh plan must be established as a defined contribution plan, and the rules are similar to those of a qualified pension plan.

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Definitions:

Diligence

Careful and persistent work or effort.

Biases Minimized

Efforts made to reduce or eliminate personal prejudices or preferences that could affect judgment or decision-making.

Listening Skill

The capability to precisely understand and decipher messages throughout the process of communication.

Listening Process

A multi-step procedure involving receiving, understanding, evaluating, remembering, and responding to spoken messages.