October 1, 2018

Glossary

Glossary

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There are 4 names in this directory beginning with the letter K.
Keogh Accounts
Similar to a 401(k), but for the self-employed.

Keogh Plan
A tax-deferred defined benefit or contribution plan that a self-employed individual can set up.

Key Employee
An employee whose skills, knowledge or abilities are crucial to the ongoing operation of the company. This term is used in applying top-heavy tests for qualified referral plans under the Internal Revenue Code Section 416.

Key Person Insurance
An insurance policy that reimburses a company for the loss of a key employee.