Which Retirement Plan Is Managed By The Individual Policyholder? 
The two basic types of retirement plans are qualified and non-qualified . Qualified plans allow you to deduct the expense of the plan from current income tax . You must pay tax on all distributions and can be subject to mandatory distributions and penalty taxes . In non-qualified plans you can do pretty much as you please . That is also true in qualified plans if you are the administrator . You are in charge of an IRA . There are limits to what investments can be placed in an IRA but it does have significant latitude . 