What is KEOGH PLAN

In the US self-employed individuals and employees with no pension plan can set up this self- contributory saving or pension plan. New York Congressman Eugene J. Keogh proposed it. Individuals set aside a certain maximum of pretax income in this tax-deferred scheme. Like an individual retirement account (IRA), a Keogh Plan grows invested monies with no tax unless money is withdrawn prior to age 59