Keogh plans

Those figures include Keogh plans, an equivalent of the IRA designed for self-employed individuals.

Another source: $35 billion from individuals seeking to set up their own Keogh plans and individual retirement accounts, the latter provided under a law opening such benefits to all employees as of January 1982.

When Congress wanted to encourage oil exploration, it granted the oil-depletion allowance that originally permitted drillers to write off their first 27�% of profits; when it wanted to encourage ordinary citizens to arrange their own pensions, it authorized Individual Retirement Accounts and Keogh plans, which exempt certain types of savings and investments from taxation.