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:

Months of Age

A measurement of time used to describe the age of an individual, specifically referring to the number of months since birth.

Emotional Bond

A strong feeling of connection or attachment between individuals, often based on love, friendship, or another personal affiliation.

Primary Caregiver

Refers to the main person responsible for the care and upbringing of a child or the care of someone who is ill or disabled.

Attachment

A strong emotional bond that develops between individuals, crucial in child development for a sense of security and safety.