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Subject:  Re: Uni-K retirement plan Date:  3/24/2004  2:02 PM
Author:  TTRoberts Number:  40004 of 91062

brewer12345 , you wrote:

<< There's probably someone at Vanguard that can offer some assistance regarding these Individual (k) plans.


Sadly, this does not appear to be the case. My wife is starting to finally see some revenue in her sole proprietorship, and I just did some looking around for "solo 401k" providers.

You don't need to look for a “provider.” You can set these up yourself, as they can be self-directed. The assistance I was referring to was not that of being a “provider” but of some simple information and maybe providing the few forms it takes.

<< Almost all of them are high fee products, either via the plan costs or (more commonly) loaded funds and other overpriced investment options. >>

No doubt all these “providers” are taking advantage of this opportunity to sell their goods. The point is of course, you don't need them to set up and administer an Individual (k) plan.

<< The only reasonable choice I found was Fidelity. They appear to be the only one of the large, low cost brokerages that ofer solo 401ks. When I spoke to the rep yesterday, I was told that the only fees that they charge are minimum account balance fees and whatever the cost of the funds you choose. I would imagine that you could probably find a very cheap Fidelity index fund or funds to do the job. I ordered the paperwork to check it out, but this looks like the best way to go. >>

Sounds like Fidelity might be a good choice as they seem to be offering to administer such a plan at a very low cost . . . .??? But you don't need them to do that if you choose. :-)

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