Individual 401k
401(k) For the One Man Shop
Solo or Individual(k) accounts provide one person businesses and their spouses the ability to invest for retirement. Similar to a corporate 401(k), both the business and the employee are able to contribute to the plan.
Opening a Solo 401(k) through our custodian Pershing allows access to ETFs, mutual funds individual stocks and more.
Contribution Limits
The contribution limits for a Individual(k) are the same as a normal 401(k):
Employee under 50
Employee can contribute up to $24,500
Employee between 50-59 and 64+
Employee can contribute up to $32,500
Employee between 60-63
Employee can contribute up to $36,500
What if your business grows?
Compass is here to help you expand your retirement account to include your first employees. With a number of 401k partners we can establish a plan that meets your company's needs while staying compliance.