Which of the following is not true of retirement plans for the self-employed?
A) A Keogh plan is usually used by high income individuals.
B) Under a SEP, a maximum contribution of $55,000 is allowed for 2018.
C) Self-employed individuals can choose from several plans including SEP plans and one-participant 401(k) plans.
D) A one-participant 401(k) plan is similar to 401(k) plans for employees except that it allows larger contributions.
Correct Answer:
Verified
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