A Keogh plan is a tax-advantaged retirement savings plan designed for self-employed individuals and unincorporated businesses. Once a popular option for small business owners, the Keogh plan has largely been replaced by simpler alternatives such as SEP IRAs and Solo 401(k)s. Remember that tax laws are subject to continual change, and as such, may be change incrementally, retroactively, and without notice. Today, the Keogh plan is almost exclusively useful for those seeking a defined benefit structure. Unlike SEP IRAs or Solo 401(k)s, which have fixed contribution limits, a defined benefit Keogh plan allows for much higher contribution limits based on factors such as age, salary, and years of employment. For older savers or those nearing retirement, this feature can be a game-changer, allowing for substantial catch-up contributions in a shorter time frame. Keogh Plans: Two Structures to Know The Keogh plan offers two possible structures, but only one remains relevant today: Defined Contribution Plan (e.g., Profit-Sharing or Money Purchase Plans) Similar to a SEP IRA or Solo 401(k), allowing for contributions of up to 25% of self-employment income, with a maximum limit of $66,000 in