Contribute up to 3x more than an IRA with all the advantages of a big business 401(k).
Answer a few simple questions to find a plan that is right for you and your business.
The solo 401(k) plan – often termed the single 401(k), individual 401(k) plans, or solo(k) is for business owners without full-time employees (with the exception of a business partner or spouse).
One of Ubiquity’s solo 401(k) plan offerings, Single(k), offers a unique path for self-employed professionals to secure their future retirement.
The plan allows business owners to set aside more money for retirement compared to other individual retirement savings plan options, like a traditional or Roth IRA.
It combines the features of a group 401(k) and a profit-sharing plan, enabling business owners to act both as the employee and employer.
This plan is an exceptional alternative to other retirement-investing avenues for sole proprietors, consultants, freelancers, and any business owner operating without full-time staff.
Who Can Participate
Business owner, business partner OR spouse (maximum of 2 people)
Eligibility
Immediate or 12-months (1,000 hours) of service
Employee Contributions
Pretax and Roth (optional Mega Backdoor Roth)
Employer Contributions
Profit-Sharing Contributions
Vesting
Full and immediate
Loans
Permitted
In-Service Withdrawals
Available to participants over age 59½
Salary Deferral Contribution
Up to $22,500
Profit-Sharing Contribution
For corporations: Up to 25% of income
For the self-employed: Up to 20% of income for self-employed
Annual Limit Per Participant
Lesser of 100% of salary or $66,000
Catch-Up Contributions (if age 50 or older)
$7,500
For additional details on contribution limits, click here.
To establish a plan for a tax year, the business owner must:
Download Your Single(k) Fact Sheet
Setting up a 401(k) can be complicated. Ubiquity gives small business owners access to retirement experts in addition to industry-leading, low, flat fees1. Each retirement specialist has over a decade of experience assisting business owners in 401(k) plan design.
Ubiquity is not a registered investment advisor, and the information provided herein should not be considered legal or tax advice. We recommend consulting with your financial planner, attorney, and/or tax advisor for personalized advice.
1 Decimal, Inc. charges flat fees for recordkeeping and administrative services. Third-party service providers may assess asset-based fees to customers. We advise Plan Sponsors to review all service agreements with providers, such as investment advisors, custodians, and broker-dealers, to evaluate the total cost of the plan.
© 2023 Ubiquity Retirement + Savings
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44 Montgomery Street, Suite 300
San Francisco, CA 94104
© 2023 Ubiquity Retirement + Savings
Privacy Policy
44 Montgomery Street, Suite 300
San Francisco, CA 94104