Ch 14: Assignment - Planning for Retirement The retirement planning conversations usually involve the employer-employee relationship. For individuals who are self-employed, self-directed retirement programs also allow them to plan for their retirement. Match the terms relating to the basic terminology and concepts associated with self-directed retired A possible investment decision bene descriptions of the terms on the night. Read each description carefully and type the letter of the description in the lect term. (Hint: Individual retirement arrangement These are not necessarily complete definitions, but there is only one possible answer for each Keogh plan Nondeductible IRA Description Rollover Roth IRA This type of account can be opened by anyone without a retirement plan at his or her place of employment, regardless of income level Self-directed retirement plan SEP plan Two basic types of retirement programs-Keogh and SEP (for self-employed individuals -and IRAS allow individuals to set up their own tax-sheltered retirement plans. Traditional IRA Withdrawal For small-business owners, particularly those with no employees, this plan is simple and easy to administer Like contributions to 401(k) plans, payments from this account may be taken as deductions from taxable income With this type of account, earnings accrue tax free and are not subject to tax until they are withdrawn (after the individual reaches age 59 1/2)