IRA Financial (
A Solo 401(k) Plan, also known as an Individual 401(k), offers plan participants the ability to make annual contributions of up to
In fact, plan participants have no annual filing requirements unless the fair market value of the Solo 401(k) plan assets exceed
Individuals who are eligible to establish a Solo 401(k) plan will receive a number of exciting tax, retirement and investment advantages, including the ability to defer up to
With the plan's robust features and the rise of the gig economy (a faction of workers who freelance or have short-term contracts), Bergman is confident that more Americans will see the appeal of saving for retirement with a Solo 401(k) Plan.
An added attraction to the plan is that contribution limits are expected to increase, as the
Solo 401(k) plan participants under age 50 will be able to contribute
The figures, which were adjusted to take inflation into account, will allow participants to save significantly more in 2020 than in 2019.
For more information on IRA Financial and the Solo 401(k) plan, visit their website at https://www.irafinancialgroup.com/ or call 800-472-0646.