Keogh Plan

A Keogh Plan is a tax deferred pension plan available to self-employed individuals or unincorporated businesses for retirement purposes. A Keogh plan can be set up as either a defined-benefit or defined-contribution plan, although most plans are defined contribution.  The main benefit of a Keogh Plan vs. other retirement plans is that a Keogh Plan has higher contribution limits for some individuals. Employees can generally contribute up to $16,500 per year, and the employer can contribute up to $32,500, for a total annual contribution of $49,000.  Withdrawals must not be made before 59.5 years of age and must begin by the age of 70 1/2.

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Source: Wikipedia

Revised 01/18/2012