Just because you are self-employed doesn't mean you shouldn't be able to participate in a lucrative 401(k) plan. With Corporate Services, you can access an individual 401(k) retirement account.
Corporate Services Associates can set up and manage a high-deferral retirement account which offers:
Defer up to $54,000 annually ($60,000 if you are over age 50) in retirement funds each year, as well access extensive investment fund options via your individual 401(k).
The Individual 401(k) is a retirement savings option that qualifies as an IRS-approved and ERISA-governed platform. It is designed for self-employed individuals or the sole owner-employee of a corporation where there are no full-time employees other than themselves and their spouse. An Individual 401(k) is sometimes referred to as a Solo 401(k), a Uni 401(k), or a one-participant 401(k).
Individual 401(k)s have a higher contribution limit and can be more flexible than the SEP IRA. Individual 401(k)s allow for up to $60,000 (in 2017) in contributions for those over 50 years old - SEP IRAs max out at $54,000 (in 2017). Individual 401(k)s also allow for contributions from both the employee and employer, while the SEP IRA only allows for employer contributions. Lastly, Individual 401(k)s are the only plan type that will allow for loans - so as an MBO Corporate Services Associate, you have the ability to borrow against your retirement assets if needed.
Enjoy a full range of investment choices with stocks, bonds, options, over 8,000 mutual funds, and every ETF sold. You'll also have direct access to a dedicated advisor for personal one-on-one guidance and advice.