A Self-Employed 401(k) is a retirement plan designed for self-employed individuals who want to make substantial contributions toward their retirement. It has many of the same benefits as a traditional 401(k), but due to the small plan size, there is less administration required. And, as the owner of an Individual 401(k), you can direct how the contributions are invested.

An Individual 401(k) may be best for employers who:

• Want flexibility in the amount contributed annually
• Are self-employed or owner-only businesses with no employees other than a spouse
• Need to make contributions that are larger than what can typically be made to a SEP-IRA or Profit-Sharing Plan
• Want an easy-to-administer, low-cost plan