■ r ,i r sc.-i ' j ; i ; w — herald. Monday. Jan. 13, 1986 U .S ./W O R L D SPORTS BUSINESS King’s widow Men at temple Huskies AWOL dedicates exhibit turn the tables against Wildcats Business Yes, Keogh plans are still around ... page 4 ... page 13 ... page 17 That form came into being because of a provision in In Brief QUESTION: You often write about “ Keogh plans” the Tax Elquity and Fiscal Responsibility Act, which and I note that investment firms include “ Keoghs” in was passed by Congress. The form ’s exact shape and R«March laads to new Job their literature and seminars. wording were prepared by the various Washington A relative who works for a bank maintains that bureaucrats, who evidently delight in excess verbiage FARMINGTON — The work of a researcher for Investors’ Keoghs are no more. She says they have been and complex calculations. the University of Connecticut Health Center has replaced by “ parities.” I have yet to see that word In Form SSOO-C replaced Form 5500-K last year. You led to a new company that will help him market Guide print, anyplace, although Keoghs are often menti­ filed a 5500-C in 1985. You must file a Form 5500-R in an adhesive be developed for broken bones, teeth oned. My relative claims a bank officer and her William A. Doyle 1986 and 1987. Then, the cycle begins again — one year and muscles. accountant agree that Keoghs no longer exist. J. Herbert Waite, an assistant professor in the with C and two years with R. What are the facts of this matter? Your feelings on this are right in line with mine. My Department of Orthopaedic Surgery, modeled his blue-eyed finance officer and I nearly went up the adhesive on the substance that mussels use under iHanrhrslpr HrralJi ANSWER: “ Keogh” is the popular name for wall, as we labored to complete our 5500-Cs last year. water to stick to rocks. Applications of the tax-deferred retirement plans set up by self-employed people who have such plans or are considering ) Manchester — A City ol Village Charm adhesive include using it to patch together torn establishing them. people for themselves and their employees. ’The name QUESTION: I established a Keogh retirement plan muscles and tendons. For simplicity’s sake. I ’m going to keep using those comes from the federal legislation that authorized while I was self-employed. I am retired and have not The company that will be used to manufacture such plans — enacted in 1962, after being submitted by words as handy nicknames for self-employed and distribute the material is BioPolymers. It is retirement plans. Readers’ eyes would glaze over if I made a contribution to the plan for several years. I. a Brooklyn congressman, Eugene Keogh. They also received a Form 5500-C last year and, after working 25 Cents the first firm created through the University of are known as “ H-R 10” plans, after the bill Keogh spelled out all four types of such plans, instead of Tuesday, Jan. 14, 1986 Connecticut’s Research and Development Corp. simply writing Keogh every time the subject Is on it for several days, finally got it filled out and filed introduced. with the IRS. Was I required to do so? The creation of the company is a first for the Over the past 24 years, Keogh plans have been mentioned in this space. university, which owns a part of BioPolymers. greatly changed, liberalized and complicated by Lyle Hohnke, the president of the research and QUESTION: Please comment on the Form 5S09-CI ANSWER: Yes. Your Keogh plan is still in force. Budget plan subsequent acts of Congress. You’re stuck with the loony filing requirements. development company, said that creating BioPo­ Under present law, there are three types of defined and everyone else with a Keogh plan must file with the lymers through the university will help Waite contribution Keogh plans — profit-sharing plans, Internal Revenue Service. Zoners kill QUESTION: While I was operating my business as benefit from his research while reducing the risk money-purchase plans and pa ir^ plans. The third is a What is the purpose of this absurdly complicated, involved with beginning new companies. impossible to understand form? Who mandated this a sole proprietorship, I set up a Keogh plan. I have for schools combination of the first two. I suspect your relative is incorporate my business. Is it true that I cannot keep The University of Connecticut’s Research and thinking about paired plans. Maybe her bank calls form — Congress or the IRS? When was this form the Keogh account? Development Corp. was established in 1984 to look them “ parities.” instigated and when was the much easier Form 5SOO-K for and evaluate new technologies at the Also, there are defined-benefit Keogh plans. That eliminated? university, then market those with commercial ANSWER: No. You can leave the Keogh plan, as is. density plan rises 11.5% type provides predetermined benefits after But you can’t put more into it, because you no longer potential. retirement. ANSWER: The stated purpose of that cockamamie form is to help the IRS and the U.S. Department of are self-employed. You can, of course, establish a Some banks, insurance companies, mutual funds, retirement plan for your incorporated business. brokerage firms and other sponsors of self-employed Labor keep tabs on the multitude of Keogh plans. But By Susan Vaughn Farms still male domain the result has been to drive Keogh plan participants Herald Reporter retirement plans have stopped using the word Keogh. Doyle welcomes written question, but he can- WASHINGTON — If the government’s latest But “Keogh plans” and “ Keoghs” have become either to frustration or into the arms of professional provide answers only through the column. for housing census figures are any guide, farming is still a part of the American language and are recognized by tax prPDflrprs School Superintendent James P. Kennedy Monday man’s world — numerically, anyway. proposed a $27.7 million public school budget for Census experts say that proportionately there 1986-87 that represents an overall 11.49 percent are more males living on farms than there are in By John F. Kirch high-density housing designations, increase over last year’s budget. the cities, a higher proportion of farm p ^p le are Herald Reporter which would allow development of More than 80 percent of the proposed increases are married and living as members of families, and Gas price drop up to 20 housing units per acre, in for staff salaries, including a 12 percent overall that farm women have more children than their The Planning and Zoning Com­ the southwest part of Manchester. increase for the first-year of a three-year teachers’ city cousins. mission began revising the town’s Residents living in the area south contract negotiated in the fall. Four percent of the ’The latest analysis was released last week by fails to keep proposed new Comprehensive of 1-384 and west of Keeney Street, budget increase would provide for $100,000 worth of the Census Bureau and the Agriculture Depart­ Plan of Development Monday by which is currently zoned mostly for improvements. ment. Most of the information was for 1984. removing high-density housing lower densities, have voiced strong “ In 1984, there were 107 males per 100 females pace at pumps from the southwestern part of town opposition to the proposed higher The improvements include one new first-grade living on farms, compared with just 93 males per and confining it to a special density. teacher, additional staff for gifted students, foreign 100 females in the non-farm population,’’ the mixed-use district along Interstate Under the old proposals, the land language and math programs and more computers. report said. “ ’This difference appears for most By The Associated Press 84. would be designated for high, Although the improvement items in Kennedy’sbudget age groups but is significant only for the The commission also created a medium high, low and very low were limited, he said he believed it is important to 20-to-24-year-old group and for those 65 years old Gasoline prices are dropping faster at the wholesale second special mixed-use district density. Other sections south of have some “ forward movement” each year. and over.” level than at the pump, oil industry analyst Dan near Interstate 384 and began 1-384 and east of Keeney Street had Lundberg says. Echoing national and state proclamations of 1986-W The report said the U.S. farm population in 1984 discussing what housing types been proposed at mostly medium being “ The Year of Education,” Kennedy said his was 5,754,000 people, including 2,975,000 males During the first two weeks of 1986, retail gasoline should be built in the various zones. and low density. prices fell a half cent, he said Sunday. budget proposes a substantial local commitment to and 2,779,000 females. A special workshop meeting was Medium-high density would al­ maintaining and enhancing educational excellence, “ Gasoline prices are falling only fractionally in held in the Lincoln Center hearing low up to 10 units per acre, medium keeping with falling international crude prices. thus making it “ very much a year for education in room Monday to make the revi­ density up to six, low up to three Manchester.” Dollar rebounds In Europe Dealers have been able to improve their markups by sions after public sentiment fell in and very low one unit per acre. In about a penny and three-quarters (a gallon) since the More than 50 parents and teachers from Martin LONDON — ’The dollar rebounded on major opposition to the proposed plan the Case Mountain area, the PZC close of last year,” said Lundberg, who surveyed School attended the school board’s meeting at board foreign exchanges today, with markets appar­ during two public hearings the had proposed a conservation area offices on North School Street to hear Kennedy’s ently calming their concerns about the U.S.- prices at 16,000 service stations nationwide.