Retirement Plan Services

Self Employed 401k

For self-employed individuals and owner-only businesses. The owner’s spouse may participate in the plan.

79%

of self-employed workers are saving for retirement, including 44% who save consistently and 35% who save from time to time.[1]

2

contribution roles allow the owner to contribute as both employee and employer, creating additional opportunities to save and potentially reduce current taxable income.[2]

75%

of self-employed retirement savers use tax-advantaged accounts to help build their retirement assets.[1]

Discover an affordable, simple retirement plan designed for small businesses

A Self-Employed 401(k)—also called a Solo 401(k) or Individual 401(k)—is designed for a business owner with no employees other than a spouse. It allows the owner to contribute in two capacities: as an employee and as the employer, providing greater retirement-saving flexibility than many IRA-based plans.[2]

Benefits and Features

  • Designed for owner-only businesses
  • A spouse employed by the business may also participate
  • Combines employee deferrals with employer contributions
  • Traditional pretax and Roth contributions may be available
  • No nondiscrimination testing while there are no eligible employees other than the owner and spouse
  • Plan loans and hardship withdrawals may be permitted

Our Role

Global Advisers helps business owners evaluate, establish, and manage the investment component of a Self-Employed 401(k). Our services include:

  • Developing an investment strategy
  • Selecting and managing investments
  • Monitoring performance, risk, and expenses
  • Rebalancing the portfolio when appropriate
  • Coordinating with the account custodian and tax professional
  • Providing ongoing investment advice and reviews

[1] Transamerica Center for Retirement Studies, Retirement in the USA: The Outlook of the Workforce—25th Annual Transamerica Retirement Survey.

[2] Internal Revenue Service, One-Participant 401(k) Plans. The IRS confirms that the owner may contribute as both employee and employer, that a spouse may participate, and that an owner-only plan is generally exempt from nondiscrimination testing.

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Get Started

Ready to open a self-employed 401(k)?

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800.832.8514

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