Ads
related to: nada 401 k planalternativebee.com has been visited by 100K+ users in the past month
benchmarkguide.com has been visited by 100K+ users in the past month
discoverpanel.com has been visited by 10K+ users in the past month
Search results
Results from the WOW.Com Content Network
A solo 401(k) plan, also called a one-participant 401(k) or a solo K, offers self-employed people an efficient way to save for retirement. There are no age or income restrictions, but participants ...
The self-employed have several plan options, including defined contribution plans such as a solo 401(k), SEP IRA and SIMPLE IRA. But they also have some defined benefit options, too.
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account.
For the most part, the plan operates similarly to a 401(k) or 403(b) plan with which most people in the US are familiar. The key difference is that unlike with a 401(k) plan, it has no 10% penalty for withdrawal before the age of 55 (59 years, 6 months for IRA accounts) (although the withdrawal is subject to ordinary income taxation).
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
A Solo 401(k) Plan includes a $6000 catch-up contribution for plan participants over the age of 50, which is not the case for a SEP IRA. A Solo 401(k) Plan can offer the owner Roth contributions, even in the case where the owner is otherwise not eligible to contribute to a Roth IRA due to the Roth's annual income limitation.
Ads
related to: nada 401 k planalternativebee.com has been visited by 100K+ users in the past month
benchmarkguide.com has been visited by 100K+ users in the past month
discoverpanel.com has been visited by 10K+ users in the past month