- What Is a Keogh Plan? Definition, Types and Benefits
Self-employment or working for a small business may sound like a dream. However, one downside is that you likely won’t have access to a workplace retirement plan like a 401(k). Sure, you could max out the $6,500 annual IRA contribution… read more…
- What Is a Stretch IRA?
A stretch IRA is a way to limit required distributions on an inherited IRA, avoiding a sizable tax bill in the process. Instead of naming his or her spouse as the IRA’s beneficiary, an account holder can name children, grandchildren… read more…
- What Is a Pension Plan? Definition, Types and How It Works
A pension plan is a type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire. It’s different from a defined contribution plan, like a 401(k), where employees put their own money… read more…
- What Is a SIMPLE IRA?
A SIMPLE IRA is a retirement savings option for the owners and employees of small business. True to its name, the SIMPLE IRA is easy to set up and administer. If you’re a business owner, a SIMPLE IRA lets you save… read more…
- What Is a Defined Benefit Plan?
A defined benefit plan is a retirement plan in which employers provide guaranteed retirement benefits to employees based on a set formula. These plans, often referred to as pension plans, have become less and less common over the last few… read more…