The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/not-all-providers-offer-the-uni-k-solo-k-20538936.aspx

Subject:  Re: Uni-K retirement plan Date:  3/25/2004  7:34 AM
Author:  W401K Number:  40013 of 76421

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

Bill
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us