A Presentation of Dear 401k J

The Leading 401k Advice Platform in California

THINGS YOU SHOULD KNOW ABOUT SOLO 401K

WHAT IS A 401K PLAN?

401k is an employer sponsored and the most popular retirement saving plan with more than 52 million active participants.

If we are to wrap up 401k plan in simple and short way, a 401k participant (employee) tells employer how much money should go into the account that is usually not more than 15%.

FEATURES OF A SOLO 401K PLAN

SOLO 401K PLAN ESTABLISHMENT

A solo 401k is strictly for solo proprietors with no additional employees. Contribution may also come from spouse if he or she earns any income from your business.

Partnerships with no employees other than partners can also establish a solo 401k and their spouses can also contribute in case as above.

SOLO 401K PLAN TRUSTEE AND ADMINISTRATOR

A solo 401k plan administrator and trustee could be the business owner, partner, spouse or any designated third party.

SOLO 401K PLAN SALARY DEFERRAL CONTRIBUTIONS

Salary deferral contributions up to $18,000. No more than $265,000 of pay can be taken into account and must not exceed 100% of pay.

$53,000 is the employer maximum and salary deferral.

SOLO 401K CATCH-UP CONTRIBUTIONS

An additional $6,000 contribution in salary deferrals for individuals age 50 or older beyond the $18,000. This contribution does not count towards the maximum total contribution limit of $53,000.

SOLO 401K EMPLOYER CONTRIBUTIONS

To maximum of $53,000 up to 20% employer contributions allowed for self-employed. This limit also applied to salary deferral contributions.

SOLO 401K ROLLOVER

Just like the traditional 401k plan, solo plan also allows rollovers

and transfers from traditional IRA, SEPand Qualified Plans, governmental 457 plans, 401kand 403b. SIMPLE IRAsare allowedin solo 401kon a condition of two years holding period.

SOLO 401K LOANS

Loans are available to all participants including traditional 401k and individual 401k. Loans are also available for unincorporated business owners.

SOLO 401K GOVERNMENT REPORTING

IRS 5500-EZ.

GETTING ACCESS TO MONEY

Until a participant reach age 59.5, the money must be kept invested in the retirement account. Withdrawals before 59 are subject to income tax with additional 10% early withdrawal penalty.

A COMPLETE PORTAL FOR SOLO 401K

Learn everything you need to know about the most popular retirement saving plan “401k” and solo 401k without having to pay a single penny out of your exertion earned retirement

money.

All you have to do is visit Dear 401k J and post your everyday retirement, 401k, investment, and other money questions, and get answers and professional advice from certified

financial advisors in California.

Visit www.Dear401kJ.com now and learn more about the best 401k retirement planning platform in California.