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Investing/Strategies / Retirement Investing
|Subject: Re: Uni-K retirement plan||Date: 3/25/2004 7:34 AM|
|Author: W401K||Number: 40013 of 81978|
Not all providers offer the UNi-K, Solo-k, Single-k plan design.
Pioneer, Oppenheimer, Alliance, T.Rowe, Hancock, and I believe Fidelity offer them. You will be limited to their funds if going direct to them
You do need to have a Plan document, and you will need to file an IRS Form 5500EZ once assets reach $100k. If you want open architecture to buy anything you want Scwab offers them, or you contact a local pension administrator, and they should be able to set you up with a document.
You can get to $41k in a SEP IRa as well without needing the document and the 5500ez. THe Single k allows for 25% contributions just like the SEP, however, in the Single K you can then contribute an additional 13k. That is provided the 2 amounts (25% plus 13k do not exceed $41k.)
You can also borrow from a Single k, you can not borrow from a SEP.l
www.individualk.com for more info
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