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 $53,000 is allowed for 2015.
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.


Answer: D

Business

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What will be an ideal response?

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Fill in the blank(s) with correct word

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