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Chapter 50: HR-10 (Keogh) retirement plan for the self-employed.


Under an HR-10 (Keogh) plan, a self-employed individual (this term includes a sole proprietor and partners who have earned income) is allowed to take a tax deduction for money he sets aside to provide for retirement. The HR-10 plan is also a means of providing retirement security for employees working for the self-employed individual.


1. When there is a desire on the part of the self-employed individual to provide personal retirement funds.

2. When there is a desire on the part of the self-employed individual to provide financial security for the retirement of his or her employees.

3. When the self-employed individual would like to defer tax on otherwise currently taxable income.


1. HR-10 eligibility rules are the same as those for corporate plans. Full time employees who are below age 21 or who have less than one year of service may be excluded from coverage. However, a plan may require two years of service if there is 100% immediate vesting for each participant. A year of service generally means a 12-month period during which the employee has worked at least 1,000 hours. (1)

Likewise, an HR-10 plan must meet the minimum participation, coverage and nondiscrimination rules applicable to corporate qualified plans. (2) See the discussion in Chapter 52 under "Eligibility."

2. HR-10 plans must meet the minimum vesting standards applicable to regular corporate plans. Vesting refers to the nonforfeitability of employer contributions for covered employees. Full vesting is required after five years or after seven years under an accelerated graduated vesting schedule. (3) Faster vesting is required for top-heavy plans and for the match portion of traditional 401(k) plans. (4)

3. An HR-10 plan must be in writing. (5) The plan can be described in an individually drafted trust instrument or in a master or prototype plan. A "master plan" refers to a standardized form of plan, with or without a trust, administered by an insurance company or bank acting as the funding medium for purposes of providing benefits on a standardized basis. In a master plan, the sponsoring organization both funds the benefits and administers the plan.

A "prototype plan" refers to a standardized form of plan which is made available by the sponsoring organization for use without change by a self-employed individual who wishes to adopt such a plan. A prototype plan will not be administered by the sponsoring organization. The employer (the self-employed individual) administers the plan. Internal Revenue Service approval of the plan is generally sought by the sponsoring organization.

An HR-10 plan is not required to have an institutional trustee, such as a bank or insured credit union. Thus, the owner-employee maintaining the plan can be the trustee.

4. In addition to the creation of a written instrument, the owner-employee must make a contribution in order to bring the plan into being.

In addition to the above requirements, there are a number of others that an HR-10 plan must meet in order to be "qualified" under section 401(a) of the Internal Revenue Code. The advantages of being "qualified" are many, including a current deduction for contributions to the plan and deferred taxation of benefits until distribution.


Your client, Marvin Gimpel, is a druggist. He has four full-time employees. Marvin's earned income is $80,000 a year. All his employees have more than one year of service and have attained age 21. Two of his assistants earn $20,000 each, and two other clerks earn $10,000 a year each, a total of $60,000.

Marvin establishes an HR-10 plan. The plan calls for contributions of 10% of his earned income to be used to provide a pension for him and contributions of 10% of each employee's earnings to provide for their retirements. Since his employees' total salary is $60,000, he would contribute $6,000 for his employees, or 10% of the $60,000 of salary.

Marvin could deduct this entire amount. After making the contribution, however, his own earned income drops to $74,000 ($80,000 minus his $6,000 contribution). However, his earned income would drop further because it is computed after taking into account amounts contributed by the self-employed individual to the HR-10 plan for himself, as well as for his common law employees. (6) Thus, a formula is needed to determine how much he can contribute on his behalf, since one cannot know what the contribution will be until after one knows how much the earned income is for the self-employed individual, and one does not know what the earned income is until one knows what the contribution will be. This calculation is further complicated by the deduction for one-half of the self-employment tax permitted for self-employed individuals. (7) Both calculations are explained at the question and answer on "earned income," below.


1. Contributions made on behalf of an owner-employee to an HR-10 plan are deductible from gross income on the owner-employee's federal income tax return. (8) Although substantial parity has been established between HR-10 plans and corporate qualified plans for federal tax purposes, some states may still allow a lower deduction for contributions to an HR-10 plan.

2. The deductible deposits made by an employer are not currently taxable either to the employer himself or to a participating employee. No tax will be paid until benefits are actually received. (9)

3. Income earned by assets in the plan accumulates tax-free. (10)

4. A lump-sum distribution receives basically the same tax treatment that a similar distribution would receive from a corporate-sponsored qualified plan. (11)

5. Plan benefits are subject to estate tax to the same extent as any other asset. (12)

6. The maximum contribution allowed to a defined contribution plan on behalf of a self-employed individual is limited to the lesser of (a) 100% of earned income, or (b) $44,000 (in 2006, as indexed). (13) This is known as the annual additions limit, or the Section 415 limit.

The annual additions limit does not apply to defined benefit HR-10 plans; they are subject to a separate Section 415 limit based on the benefit promised by the plan. Contributions to defined benefit plans are based on actuarial calculations designed to accumulate a reserve large enough to pay the retirement benefits provided by the plan. A defined benefit HR-10 plan based on retirement as early as age 62 can be funded to provide an annual retirement benefit of the lesser of 100% of the participant's average compensation for his highest paid three years of participation or $175,000 (as indexed for 2006). (14) If retirement benefits are to commence prior to age 62, the limit is reduced. (15)

7. An owner-employee may make nondeductible voluntary contributions (like a common law employee), in addition to his deductible contribution. All such contributions are counted for purposes of the annual additions limitation and must conform to the special nondiscrimination test provided in Code section 401(m).

8. The deduction limits on contributions to HR-10 plans depend on the type of plan. In the case of defined contribution plans, the deductible amount is 25% of total compensation of plan participants (earned income in the case of the self-employed individual). (16) In the case of a defined benefit plan, the amount that is deductible is the amount actuarially determined to be necessary to pay for the benefits promised. (17) In no event, however, can amounts in excess of the Section 415 limits (discussed in paragraph 6, above) be deducted. (18)

9. There is a 10% annual nondeductible excise tax on "excess" contributions (i.e., contributions above the deductible limits mentioned above) made to the plan until the excess is eliminated, subject to certain exceptions. (19)

10. A 10% penalty tax is imposed on distributions before the participant attains age 591/2, with certain exceptions (death, divorce, disability, payments made over the participant's life, and extraordinary medical expenses). (20) In the case of a SIMPLE IRA plan, the penalty is increased to 25% during the first two years of participation.


The benefit accumulated in an HR-10 plan for an employee who was married during his participation in the plan while a resident of a community property state belongs equally to the employee and his or her spouse. The employee and spouse can, however, change the normal effect of community property laws by an agreement, such as a pre-nuptial agreement, to the effect that all earnings of the individual will be community property but that contributions to a qualified retirement plan for the employee's benefit will be solely the employee's property. However, the joint and survivor annuity rules of Section 401(a)(11) limit the ability of a married participant to solely retain plan benefits without the consent of the participant's spouse (see Chapter 52).

Another frequent issue concerns individuals moving from common law to community property states. For instance, assume a married employee was a resident of a non-community property state for 10 years. He and his wife then moved to California where they resided for five years. Contributions were made to an HR-10 plan each year on his behalf throughout the 15-year period. What is the status of ownership of benefits accumulated in the plan over the fifteen-year period? The answer is that a portion of the benefits will be community property. Depending on the circumstances, a court may determine the community property portion on the basis of the "contributions made" or the "time" method.

The "contributions made" method would divide the benefits in the proportion of contributions made after moving to the community property state, plus earnings, to the total amount in the plan. The "time" method would divide benefits on the basis of proportionate years of participation in the plan (i.e., one-third of the benefits would be community property).

Each method has advantages and disadvantages. If annual contributions for the employee were greater in the years in which he lived in a community property state, the "time" method would cause more of the benefits to be separate property than the "contributions made" method. Other methods of dividing community property HR-10 benefits could be used where appropriate.

The non-community property portion of the HR-10 benefit would be the separate property of the employee. In the event of a divorce or the death of the employee, California law provides that certain separate property of the employee will be treated as community property for purposes of division on divorce or the employee's death. This separate property is referred to as quasicommunity property. Generally, quasi-community property is personal property, wherever situated, and real property situated in California, which would have been community property had the owner acquired it in California. For all purposes other than division on divorce or the employee's death, the benefits remain the employee's separate property. Thus, if the employee's wife predeceases him, her estate would not have any rights to any part of the separate property portion of the HR-10 benefits.


Question--What is meant by the term "earned income"?

Answer--Earned income is, generally, net earnings derived from a self-employed individual's business as a result of personal efforts or personal service rendered, as distinguished from investment income. Therefore, inactive owners, such as limited partners, whose income is derived solely from an investment made in the partnership, have no earned income from the firm.

Generally, the entire net earnings received by a self-employed individual who is an attorney, an accountant, a physician, or other professional, is considered as earned income. However, for purposes of determining earned income, net earnings must be adjusted. Adjusted net earnings means gross earnings less all allowable business deductions, allowable deductions under Code sections 62 and 404 pertaining to contributions to a qualified plan, and the deduction for one-half of the self-employed individual's self-employment tax. (21) The allowable deductions for HR-10 contributions include not only the deductions for common law employees but deductions for self-employed individuals as well.

If deductions for self-employed individuals must be taken into account before determining such self-employed individual's "earned income," a complex situation presents itself. One cannot determine a self-employed individual's earned income until the allowable contribution for him is known. The allowable contribution cannot be determined until his earned income is known. In some cases, an interdependent variable formula will be needed to determine the proper deductible contribution. Added to this complexity is the fact that the IRS has ruled that self-employment tax must be computed and the deduction for one-half of the self-employment tax must be taken before determining the HR-10 contribution. (22)

Self-employment tax is determined by subtracting 7.65% from the self-employed individual's net earnings. In 2006, net earnings up to $94,200 are subject to 12.4% OASDI tax and all net earnings are subject to 2.9% for hospital insurance tax. One-half of the self-employment tax is then subtracted from net earnings (i.e., 6.2% OASDI and 1.45% HI). The resulting figure is the base amount used to determine the self-employed individual's HR-10 contribution. (23)

Determining the HR-10 contribution is relatively simple when there are no employees. For example, if the self-employed individual's net earnings (after deducting one-half of self-employment tax) are $60,000, multiply that amount by 20% to obtain the maximum contribution allowable on his behalf. The figure arrived at is $12,000. That is the same figure computed by multiplying his $48,000 earned income ($60,000 - $12,000) by 25%.

Calculating the self-employed individual's maximum contribution is not difficult even if there are employees. For instance, assume a payroll of $10,000 for other employees. If that amount is multiplied by 25%, a $2,500 contribution must be made on behalf of those employees. This drops the $60,000 base for determining the self-employed individual's contribution in the example above down to $57,500. If $57,500 is then multiplied by 20%, a contribution of $11,500 is arrived at. This is the same as if his earned income of $46,000 ($57,500 - $11,500) was multiplied by 25%.

Question--Can an individual who is a full-time corporate employee but who conducts independent consulting work or "moonlights" and receives fees make contributions based on self-employment income?

Answer--Yes. For example, Sel Horvitz, a practicing attorney who teaches three days a week at a local law school and who is participating in the school's tax deferred annuity plan, can still set up an HR-10 plan for himself based on the income earned in private practice. However, there are overall "all plans" limits, which may not be exceeded. In 2006, Sel may also be able to contribute to a traditional or Roth IRA up to a maximum of $4,000 (plus a catch-up amount of $1,000, for a total amount of up to $5,000 if he is age 50 or over), or 100% of his compensation, whichever is lower. (24) However, the availability of a tax deduction for his traditional IRA contributions will depend in part on whether his income falls within the limits discussed in Chapter 51. (25) Tax deferred compounding of traditional IRA contributions still occurs, even if the contribution to the IRA is not deductible. (26) The ability to make Roth IRA contributions is also subject to income limits, as explained in Chapter 51.

Question--Under what circumstances can benefits be paid from an HR-10 plan?

Answer--A 10% early distribution penalty is imposed on distributions before the participant attains age 591/2, with certain exceptions (death, divorce, disability, payments made over the participant's life, and deductible medical expenses). (27)

In addition, an HR-10 plan generally must begin distributing benefits by April 1 of the year following the year the employee attains age 701/2; however, as with all corporate qualified plans, the plan may delay distributions until April 1 of the year following the year an employee retires, provided he is not a more-than-5% owner. (28) (See Chapter 52 for other distribution requirements.)

Question--What is a lump sum distribution?

Answer--A distribution will be considered to be made in a "lump sum" if (a) it is made within one taxable year of the recipient, (b) it consists of the balance of the employee's account, and (c) it occurs under one of the following circumstances:

1. On account of the death of an employee or self-employed person.

2. After the disability of a self-employed person.

3. After a self-employed individual or any other employee attains age 591/2 (even if employment has not yet terminated). (29)

Question--How may contributions be invested?

Answer--HR-10 plan funds can be invested in life insurance contracts (subject to limitations), mutual funds, variable annuities, government bonds, savings accounts, securities, real estate, etc., or a combination of these funding media.

Question--Can pre-retirement death benefits be provided under an HR-10 plan?

Answer--Yes. Immediate and substantial death benefits can be made available through life insurance to beneficiaries of the self-employed individual and other plan participants. These benefits will be received income tax free and can be coordinated with the personal life insurance programs of the participants. (Note, however, that the cash value portion of the death benefit will be subject to income tax.) (30)

Question--If life insurance is used in a plan and paid for by employer contributions to the plan, is any of the premium taxable to the employee?

Answer--The cost of pure insurance is taxable as a current economic benefit. For common law employees the amount the covered person must include is based on government tables. (31) The cost of insurance for a self-employed person is not a deductible contribution. (Pure insurance is the difference between the face amount of the policy, i.e., the death benefit, and the policy's cash value.) (32)

For example, if a $1,000 premium is paid for an ordinary life insurance policy and $150 of the premium represents the cost of pure life insurance, an employee is taxed currently on $150, and a self-employed individual cannot deduct the $150.

Any deductible employee contributions that are applied toward the purchase of life insurance will be treated as a distribution in the year so applied. (33)

Question--Many HR-10 plans are "defined contribution plans," that is, the pension benefit at retirement will be whatever a specified contribution, plus appreciation on the contributions, will earn. Are there other types of plans?

Answer--Yes. There are two general types of plans: defined contribution plans and defined benefit plans. A defined contribution plan can be a profit sharing plan, as described above, or a pension plan (e.g., a money purchase plan) in which a definitely determinable benefit is provided to employees, generally at retirement. In a profit sharing plan, contributions are based on a formula that is applied to the earned income (the profits) of the self-employed individual. A defined contribution pension plan, such as a money purchase plan, provides for fixed (required) contributions that are used to purchase a retirement benefit.

A defined benefit plan is the alternative to a defined contribution plan. Under a defined benefit plan, a predetermined (i.e., defined) annual retirement benefit is funded on an annual basis. A defined benefit formula may have some advantages for the self-employed person over a defined contribution formula. First, contributions are not subject to the annual additions limit (see item (6) under "What are the Tax Implications" above for the Section 415 limit for defined benefit plans).

Second, the proportionate contribution for other employees may be lower than in a defined contribution plan, especially if the other employees are younger than the self-employed person.

Question--In an HR-10 plan, may employees below a certain age be excluded from coverage?

Answer--Yes, an HR-10 plan may require the same eligibility requirements as a corporate qualified plan (see "Eligibility," at Chapter 52).

Question--What must a sole proprietor or partnership do to set up an HR-10 plan?

Answer--To set up an HR-10 defined contribution or defined benefit plan, a plan that meets the applicable requirements for tax qualification must be adopted on or before the last day of the proprietor's or partnership's tax year. Employees must be informed in writing of the plan and contributions must be made within the period required for filing the sole proprietor's or partnership's income tax return (including extensions). In contrast, a simplified employee pension (SEP) may be adopted after the end of the plan year, but before the due date (including extensions) of the sole proprietor's or partnership's income tax return.

Question--If a self-employed individual contributes less than the maximum amount allowed in any one year, can he make catch-up contributions in the next tax year?

Answer--Generally, no. The deduction for contributions to an HR-10 plan for self-employed individuals is allowed only on a year-to-year basis. The law has no provisions allowing the carryover of an unused deduction for HR-10 contributions. Thus, if the amount contributed in a given year was less than the amount allowable, the self-employed individual cannot make it up and deduct more than the allowable amount in the following year. (34) Similarly, a self-employed individual who contributes less than the amount permitted under Section 415 may not carry over unused amounts.

Certain elective deferral plans (e.g., 401(k) plans, SIMPLE IRAs, SAR-SEPs) may provide for catch-up contributions for individuals who have reached age 50 by the end of the plan year. (35)

Question--Can an excess contribution be made to an HR-10 plan without penalty?

Answer--No. Contributions exceeding the deductible limit are subject to an excise tax equal to 10% of the nondeductible contribution each year until the excess is eliminated. (36)

Question--Can a loan be made from an HR-10 plan to a self-employed person without it being treated as a taxable distribution?

Answer--Yes. (37) Within certain limits a loan from an HR-10 plan that must be repaid within five years will not be considered a taxable distribution, provide it does not exceed the lesser of $50,000 or one-half of the employee's nonforfeitable accrued benefit under the plan. (However, a loan of up to $10,000 can be permitted, even if it is more than half the employee's accrued benefit.) The $50,000 limit is reduced by the highest outstanding loan balance during the prior 12-month period. (38) This effectively prohibits "rollovers" of loans in excess of $25,000.

The loan must bear a reasonable rate of interest, be adequately secured, provide a reasonable repayment schedule, and be made available on a basis that does not discriminate in favor of highly compensated employees. The 5-year repayment rule does not apply to loans used for residential mortgages. (39) A loan in excess of these prescribed limits would be treated as a taxable distribution.

In years prior to 2002, loans to "owner-employees" were included in the definition of prohibited transactions, and thus were unavailable. (40)

Question--What is a "top heavy" HR-10 plan? Of what significance is the term?

Answer--Any plan is a "top heavy" plan if as of the determination date (generally, the last day of the preceding plan year or last day of a new plan's first year) the present value of the aggregate accrued benefits of "key employees" in a defined benefit plan or the account balances of "key employees" in a defined contribution plan exceed 60% of the aggregate accrued benefits or account balances of all employees. (41) Under this definition, most HR-10 plans will be considered "top heavy."

Generally, a key employee is any employee-participant who, at any time during the plan year is an officer earning more than $140,000 (as indexed for 2006), a more than 5% owner, or a more than 1% owner earning more than $150,000 a year. (42) In years beginning before January 1, 2002, "key employees" included any officer earning more than 50% of the Section 415 dollar limit, any employee owning one of the ten largest interests in the employer, and anyone who met the definition (as then in effect) during a 4-year look-back period.

If a plan is considered "top heavy" certain additional requirements must be met. These include:

(1) Rapid vesting-A top heavy plan must provide for vesting under one of two alternative schedules. One schedule provides that any employee with three years of service must be 100% vested. The other alternative provides a 6-year graduated schedule beginning after two years of service.

(2) Minimum non-integrated contribution or benefit for non-key employees-For a defined contribution plan, the employer generally must contribute for a non-key employee an amount equal to at least 3% of that participant's compensation. However, if the key employee uses a percentage for himself that is lower, that percentage may be used.

For a defined benefit plan, the benefit for a non-key employee which must be accrued is at least 2% of the employee's average annual compensation multiplied by the employee's years of service with the employer in which a top heavy plan year ends. The minimum benefit, however, need not exceed 20% of such annual compensation. Years of service before January 1, 1984 need not be counted.

SIMPLE IRAs, SIMPLE 401(k) plans and safe harbor 401(k) plans, are generally exempt from the top heavy requirements. (43) Furthermore, the vesting, minimum benefits and limits on compensation requirements do not apply to any employee who is represented by a collective bargaining unit where evidence exists that retirement benefits were the subject of good faith bargaining.

Question--Can plans covering self-employed individuals be integrated with Social Security?

Answer--Yes, an HR-10 plan may be integrated under the same rules that apply to corporate plans. (The terminology used in the regulations refers to "permitted disparity" instead of integration.) For example, in the case of defined contribution plans, the contribution rate (%) that applies to compensation above the taxable wage base may not exceed the contribution rate (%) that applies to compensation below the taxable wage base by more than the lesser of (1) the rate applied to compensation below the wage base or (2) 5.7% points (or, if greater, the rate of Social Security tax attributable to old-age insurance). (44) Thus, if the plan provides for contributions of 10% of pay in excess of the wage base, it would be properly integrated if it provided for contributions of at least 5% on pay below the wage base.

Question--Are Keogh plans subject to the survivor annuity rules under Code Section 417?

Answer--Yes; the survivor annuity requirements apply to any defined benefit or defined contribution plan, which would include an HR-10 plan. This means that in the event a married owner-employee retires, the retirement income must be in the form of a qualified joint and survivor annuity, unless the spouse has consented to an alternate form of distribution. If the owner-employee dies leaving a surviving spouse, there must be a qualified survivor annuity for the surviving spouse. This requirement may be waived; see the discussion in Chapter 52.


(1.) IRC Sec. 410(a).

(2.) IRC Secs. 401(a)(4), 410(b), 401(a)(26).

(3.) IRC Sec. 411(a)(2).

(4.) See IRC Sec. 416(b) and IRC Sec. 411(a) (12). It is important to remember that all provisions of EGTRRA 2001 sunset (or expire) for years beginning after December 31, 2010. The schedule for employer matching contributions or top heavy plans is three years for cliff (full) vesting, or graduated vesting over 3-7 years (at the rate of 20% each year) or faster.

(5.) IRC Sec. 402(a)(1).

(6.) IRC Sec. 401(c)(2)(A).

(7.) IRC Sec. 164(f).

(8.) IRC Sec. 62(a)(6). Contributions on behalf of common law employees are deductible under Sec. 404(a).

(9.) IRC Sec. 402(a); Treas. Reg. [section]1.402(a)-1(a)(1)(i).

(10.) IRC Sec. 501(a).

(11.) IRC Sec. 402(d).

(12.) IRC Sec. 2039. In years beginning before 1985, certain plan benefits were subject to an estate tax exclusion. The Tax Reform Act of 1984 contained a provision which permitted individuals who were both in pay status and had made an irrevocable election as to the form of benefit distribution to continue to have the benefit of the estate tax exclusion (the unlimited exclusion for participants in pay status prior to January 1, 1983, or the $100,000 exclusion for participants in pay status prior to January 1, 1985). The Tax Reform Act of 1986 somewhat liberalized the grandfathering provisions by providing that the participant no longer needed to have been in pay status as of the applicable date. The participant needed only to have separated from service prior to the applicable date and not to have made any change in the form of benefit to be paid.

(13.) IRC Sec. 415(c)(1)(A).

(14.) IRC Sec. 415(b).

(15.) IRC Sec. 415(b)(2)(C).

(16.) IRC Sec. 404(a)(3)(A). For plan years beginning prior to 2002, the deduction amount for profit sharing plans was limited to 15% of total compensation, and a higher limit of 25% applied to defined contribution pension plans, such as money purchase pensions.

(17.) IRC Sec. 404(a)(1)(A).

(18.) IRC Sec. 404(j).

(19.) IRC Sec. 4972.

(20.) IRC Sec. 72(t).

(21.) IRC Sec. 401(c)(2)(A).

(22.) GCM 39807.

(23.) See IRS Pub. 560, "Retirement Plans for the Self-Employed."

(24.) See IRC Sec. 219(b).

(25.) IRC Sec. 219(g).

(26.) IRC Sec. 408(o).

(27.) IRC Sec. 72(t).

(28.) IRC Sec. 401(a)(9).

(29.) IRC Sec. 402(d)(4)(A).

(30.) IRC Sec. 72(m)(3)(C).

(31.) Treas. Regs. [section][section]1.402(a)-1(a)(3); 1.72-16. For guidance explaining the replacement of the P.S. 58 rates with the Table 2001 rates, see Notice 2002-8, 2002-1 CB 398. For additional details, see the questions and answers for Chapter 30.

(32.) IRC Sec. 404(e).

(33.) IRC Sec. 72(o)(3).

(34.) IRC Sec. 404(a)(3)(A).

(35.) See IRC Sec. 414(v).

(36.) IRC Sec. 4972.

(37.) See IRC Sec. 4975(f)(6). This rule applies for years beginning after 2001; prior to 2002, plan loans were not permitted for self-employed individuals.

(38.) IRC Sec. 72(p)(2)(A).

(39.) IRC Sec. 72(p)(2)(B).

(40.) IRC Sec. 4975(d)(1). Under certain circumstances, an administrative exemption could be obtained from the Department of Labor for a loan to an owner-employee. See ERISA Sec. 408(d).

(41.) IRC Sec. 416(g).

(42.) IRC Sec. 416(i).

(43.) See IRC Sec. 416(g).

(44.) IRC Sec. 401(l).
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Title Annotation:Part 9: Planning for Employee Benefits and Retirement
Publication:Tools & Techniques of Estate Planning, 14th ed.
Date:Jan 1, 2006
Previous Article:Chapter 49: Employee stock ownership plan.
Next Article:Chapter 51: Individual retirement plans (and SEPs).

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