Unlike a regular 401(k) plan, a solo 401(k) plan can be implemented only by self-employed individuals or small business owners who have no other full-time employees (an exception applies if your full-time employee is your spouse).
However, in most cases, the financial institution sponsoring the solo 401(k) plan documents will limit the individual investment options to stocks and mutual funds and will also exclude many of the attractive solo 401(k) plan options, such as the loan feature and the Roth contribution component.
Mr. Thompson will be eligible to participate in the benefit programs generally available to senior executives of the Company, including health insurance, life and disability insurance, the Employee Stock Purchase Plan, 401(k) plan, and a Flexible Spending Plan.
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Below are the 5 characteristics of a GREAT 401(k) plan, keeping in mind that the goal of all great 401(k) plans is to provide meaningful retirement income for the employees of the plan.
In addition to the lawsuits against plan sponsors, cases have been brought against 401(k) plan service providers, such as Fidelity, Principal Life, John Hancock, Nationwide and ING.
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Most small business owners that start a 401(k) plan opt for a special design called a Safe Harbor 401(k).
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If your 401(k) plan administrator will cut you a separate check containing just your aftertax 401(k) contributions--and not include any of your pretax 401(k) contributions or investment earnings--you can roll that money into a Roth ira without recognizing a penny of taxable income, says Rockville Centre, N.
Bush's plan would allow employees to sell stock in their own company after participating in a 401(k) plan for three years and stipulates that senior company executives may not sell their company stock during a period when employees are barred from doing so.
One of colleagues said to me was, had I done anything with my 401(k) plan?
Have you seen some of the good news recently about 401(k) plan balances increasing?
It's all Manager can do to fully fund his 401(k) plan, which is in stocks.
"Even a mediocre 401(k) plan with a match is a good one, " says Lee.
He managed warehouses and hardware stores, had a 401(k) plan and owned his home.
American Beacon also manages many of the investment options offered within the AMR 401(k) plan.
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For years it charged all sorts of fees for your 401(k) plan, and you barely noticed.
Unfortunately, the importance of the 401(k) plan takes a backseat to more pressing issues.
Late last year the company announced that it is making significant changes to its 401(k) plan.
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If you have a 401(k) plan, you should have received new documentation by now.
The Center for Retirement Research studied the costs that afflict a typical self-directed 401(k) plan.
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He was doing market research in connection with a 401(k) plan the company was considering establishing.
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If your 401(k) plan has a brokerage window, use it to buy low-cost exchange traded funds.
Generally, assets in a 401(k) plan cannot be withdrawn unless the participant experiences a triggering event.
Those happy with their old employer's 401(k) plan typically have the option to keep the money there.
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Rolling into a new employer's 401(k) plan will enable savers to consolidate accounts and easily monitor diversification.
Many of us get busy and forget to check-in on our 401(k) plan on a semi-regular basis.
When the economy is booming, 401(k) plan asset values soar, making people spend more and work less.
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According to Shreve, the Allegro 401(k) plan, utilizing Verisight and Vanguard is off to a great start.
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Understand, however, that making changes to a 401(k) plan is not something that can be easily accomplished.
She is now saving 10% of her salary (which has increased over the years) in the 401(k) plan.
They found that 401(k) plan administrators underperformed their benchmarks by 31 basis points compared to passive index funds.
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