New York State Life Insurance Exam Questions Practice Question
Keogh (HR 10) plans were designed to provide retirement benefits for
Correct Answer: D
Rationale: Keogh (HR 10) plans are specifically designed to offer retirement benefits to self-employed individuals and small business owners, allowing them to save for retirement in a tax-advantaged way.
Option A, educators, typically have access to different retirement plans such as 403(b) plans, not specifically Keogh plans. Option B, federal employees, are covered under the Federal Employees Retirement System (FERS) and do not utilize Keogh plans. Option C, healthcare workers, may work in various employment situations and generally rely on employer-sponsored plans rather than Keogh plans.
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