Terminology: Self-Directed Retirement Programs The retirement planning conversations usually involve the employer-employee relationship. For individuals who are self-employed, self-directed retirement programs also allow them to plan for their retirement. Match the terms relating to the basic terminology and concepts associated with self-directed retirement programs on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. (Hint: These are not necessarily complete definitions, but there is only one possible answer for each term.) Description Term If you change jobs, arrange for your IRA funds to transfer from one firm to another. SEP plan Aimed small-business owners, this plan is just like a Keogh plan. This type of account can be opened by anyone without a retirement plan at his or her place of employment, regardless of income level. It requires that a form be completed designating it as this type of account and makes the institution its trustee Regardless of income level or participation in an employer retirement plan, a contribution made with after-tax dollars can open this type of account