These days, almost anyone can open personal, tax-sheltered retirement accounts whether or not theyre enrolled in a plan at work. Terms and provisions vary among plans, so it pays to do some homework before deciding which is best for your circumstances and goals. To help you focus on the aspects of different plans, answer the following questions.

1. Alison is a small-business owner whos decided to create a retirement plan that she believes will offer the most benefits to herself and her employees. Alison is willing to invest the time and money into setting up the plan and administering it. She knows that if maintaining the plan becomes too much to handle, she has the flexibility to convert it to a plan thats simpler to set up and maintain. What type of plan will Alison most likely decide to open?

A. Keogh

B. SEP-IRA