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Keogh plan Named after Eugene Keogh, a US representative from
Brooklyn, NY, Keoghs are qualified retirement plans for self-employed
people, small-business owners, and others in similar work situations.
Keoghs offer the double benefit of salary reduction and tax-deferred
earnings, plus control over how your money is invested.
When you
withdraw from a Keogh, typically after you retire, you owe income tax
on the withdrawal amounts at whatever tax rate you are currently
paying. There may be penalties for withdrawals before you reach age
59 1/2, and you may be required to begin withdrawals by age 70
1/2.
There are several ways to set up a Keogh using profit sharing,
money purchase, or a combination plan. Since the contribution and
reporting requirements are complex, it's wise to have professional
help in setting up a Keogh plan.
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Junk bond ratings:
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Moody's
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S&P's |
Meaning |
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Caa |
CCC |
Poor quality |
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Ca |
CC |
Highly speculative quality |
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C |
C |
Lowest-rated |
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. |
D |
In default |
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