Owner-Only 401K - TrueNorth Retirement Services
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Owner-Only 401K

OWNER-ONLY 401K DEFINED CONTRIBUTION PLAN

An owner-only 401(k) plan is designed for self-employed individuals with no additional employees excepting a spouse.

Just because you are a one-person business doesn’t mean you can’t invest and build a retirement like a larger company. An owner-only 401(k) plan is customized for self-employed individuals with no additional employees other than a spouse.

Some benefits of an Owner-only 401(k) Plan

With an owner-only 401(k) plan the governmental limits on contributions typically placed on more traditional retirement plans like an SEP IRA aren’t as constrictive. Additionally, if you do have a spouse with for the company he/she can also contribute to and build the investment.

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