Which one of the following is a retirement plan that allows a $5,500 annual contribution with tax-free earnings after five years?

Question

Quizplus · Accepted Answer

A Roth IRA allows a $5,500 annual contribution and earnings grow tax-free after being held for five years. Keogh Accounts and SEPs are retirement plans for self-employed individuals, while a 401 Plan is a retirement plan typically offered by employers. An Education IRA is a savings plan specifically designed for education expenses and has different contribution limits and taxation rules.

Which One of the Following Is a Retirement Plan That