Keogh Plans
The most frequently asked tax questions related to Keogh Plans
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Answer Tax QuestionsDefined contribution plan - annual benefit
Asked Wednesday, November 29, 2000 by an anonymous user
For 2013, the annual benefit for a participant under a defined benefit plan cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $205,000.
For 2014, the annual benefit for a participant under a defined benefit plan cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $210,000.
Employee stock ownership plan - 5 year distribution period - Limits
Asked Wednesday, November 29, 2000 by an anonymous user
For the current year, the dollar amount for determining the maximum account balance in an employee stock ownership plan subject to a 5 year distribution period has increased to $1,066,000, while the dollar amount used to determine the lengthening of the 5 year distribution period has increased to $205,000.
In relation to retirement, what is a Money Purchase plan?
Asked Monday, November 06, 2000 by an anonymous user
A Money purchase plan is a defined benefit contribution plan in which the participant contributes some part of his or her salary and the employer contributes at the same or a different rate. It is also called an individual account plan.
