KEOGH PLAN (AAM)

KEOGH PLAN (AAM)

SR 02-04 Dated 02/02 Previous Policy

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Noncontractual Keogh Plans are tax-sheltered accounts set up by an individual for retirement purposes.

Treatment : Countable Resource. Deduct the penalty for early withdrawal and count the remainder as a resource.

Exception: Excluded Resource for MEAD-eligible individuals.

A contractual Keogh Plan is a tax-sheltered account set up by an employer that does not allow the employee to withdraw any money.

Treatment : Excluded Resource.