Individual 401(k) Plan Basics

An individual 401(k), also referred to as a solo 401(k) or uni 401(k), is a retirement plan designed specifically for business owners and their spouses. In many ways, individual plans work in the same way as traditional 401(k)s, but there is a key difference: individual 401(k)s are exempt from most of the Employee Retirement Income Security Act (ERISA) rules that traditional 401(k)s are subject to.

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