An interest-bearing account whose earnings are not taxable as income to the account holder before the earnings are withdrawn. • Tax-deferred accounts include most types of IRAs, variable annuities, 401(k) plans, cash-value life insurance, and most other types of tax-deferred savings instruments.
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Keogh plan (kee-oh). A tax-deferred retirement program developed for the self-employed. • This plan is also known as an H.R. 10 plan, after the House of Representatives bill that established the plan. — Also termed self-employed retirement plan. Cf. INDIVIDUAL RETIREMENT ACCOUNT. [Cases: Internal Revenue 4381; Pensions 28. C.J.S. Internal Revenue §§ 579–580, 582; Pensions