9.7 Plans For The Small Employer
All of the plans we have talked about so far are designed for employees.
What about the employer of a small business or the self-employed individual?
Small employers were commonly considered those with 50 or less employees, including sole proprietors, independent contractors, and self-employed individuals. They were once restricted from participation because they were considered employers, not employees. The Self-Employed Individuals Retirement Act was enacted in 1962 lifting this restriction, resulting in the Keogh Plan.
