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Investing/Strategies / Retirement Investing
|Subject: Re: Uni-K retirement plan||Date: 3/24/2004 1:00 PM|
|Author: TTRoberts||Number: 39999 of 74759|
op2s , you asked:
<< That is exactly what I wanted...to separate the actual plan from a particular administrator. I'm new to this and trying to understand the options before rolling several old SEPs, IRAs, and 401(k) plans into something new and trying to take a little more control of it.
Is there a good place to compare the companies that set up and administer these plans? >>
In terms of plan administrators, there can be all sizes of businesses that do this kind of thing. As a consumer, you shop and compare as you would with any service you might buy.
<< I assume that they do have to be administered by some third party. >>
No. These Individual (k) plans can be self administered and self directed. . . or you can choose to hire an administrator at a cost that would typically be much lower that other types of plan administration because of its simplicity. But one would probably want SOME guidance, probably through one's tax accountant or some other tax expert.
<< Is it possible to have one set up, but still maintain control of where the money is invested? >>
Yes, you can self direct it.
<< I was thinking of doing a mix of Vanguard indexed stock funds. >>
There's probably someone at Vanguard that can offer some assistance regarding these Individual (k) plans.
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