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| Do You Work from Home or Are You the Sole Owner of a Small Business? |
| If so, you may want to take a close look at a 401(k)
for the self-employed for it's unique flexibility, as compared
to other small business pension plans. |
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| Keogh Plans |
| In 1962, Congress allowed the self-employed to set up Keogh plans.
A Keogh (aka H.R. 10) is a qualified plan for sole-proprietors or
partners. Keoghs can be profit sharing or money purchase plans.
The newest form of personal retirement plan for small business
owners is the Self-Employed 401(k). It first became allowed in 2002,
as a result of changes in the tax law. |
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| The Self-Employed 401(k) has many key advantages over the Keogh, such as: |
- It allows higher contribution limits for most individuals. See table for maximum contribution limits.
- It allows for catch-up salary deferral contributions for those 50 years and older. Keoghs do not have the catch-up feature.
- It allows loans to owners of up to $50,000 or 50% of the balance in the account, whichever is less. Most Keoghs do not have a loan feature.
- It may be easier to administer and less expensive to maintain than a Keogh.
Good News! We now offer an easy and convenient way online
to convert your Keogh plan to a Self-Employed 401(k).
Get all the paperwork here that you need to open your Self-Employed
401(k) and to rollover your Keogh to a Self-Employed 401(k).
Just fill out our Application
Request Form. It’s that easy! You’ll get
the forms by email and will be able to print them and review them
at your convenience!
What’s more…there is no obligation on your part!
And, our professional staff is available to answer any of your questions. Contact
us by email or call us at (703)-370-1570, between 9 am –
5 pm EST.
The Self-Employed 401(k) plan we offer is by Pioneer Investments,
a large mutual fund company. Investments are limited to the
family of Pioneer funds.
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| Information contained on this
website should not be used as a substitute for legal or tax advice.
Please consult with your appropriate professional for such advice.
Read the prospectus before investing. Mutual fund returns and shares
fluctuate, and shares, when redeemed, may be worth more or less than
original cost. |
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