SOLO(k) PLANS

Retirement Solutions Green Bay WI Solo Business Man At Desk

Please contact Pension Inc. to learn how a Solo(k) plan can help meet your retirement goals.

A Solo(k) plan is a traditional 401(k) plan covering a business owner with no employees; or covering that person and his or her spouse. It can be a powerful planning tool with its high contribution limits and flexible investments. A Solo(k) must be established by the end of the employer’s tax year and funded by the employer’s tax return due date, plus extensions. This type of plan typically results in low administrative expenses as it is not subject to full compliance testing and reporting. Plans should be established with the intent of ongoing funding.

For more information visit: irs.gov.

Third Party Administrator (TPA) Services

As your TPA, Pension Inc. will provide you:

Account setup and generation of all plan legal documents.
Dedicated Pension Inc Account Executive for the Plan.
Fast and courteous answers to your questions.
Complete retirement plan consulting.
Determination of plan contributions via sponsor provided earnings for tax year.
Technical administration, required governmental filings, and regulatory compliance.
Implementation of periodic plan amendments due to law changes and mandatory restatements.

New Plan Setup & Plan Costs

A Solo(k) must be established by the end of your tax year. Your signed intent to adopt the plan and contribute employee deferrals to the plan must be on file with Pension Inc. no less than 15 business days before the last day of your fiscal year to make your plan exist for your current tax year. Plans with documents received after the date are not guaranteed to be established by year end and may result in rush processing fees.

To begin setup, review the document below to learn more about Pension Inc. fees and services and to start the plan installation.

START YOUR SOLO(k) PLAN

Deposit Limits and Deadlines

Total contributions depend on annual plan limits and your net business income. Negative income means no contributions can be made that year. Clients typically consult with their tax advisor regarding allowable contributions, but Pension Inc. can also assist with contribution calculations.

Deadline for your deposits depend upon whether you file as a Corporation or a Self-Employed business (Sole Proprietorship/Single Member LLC).

OFFICE HOURS

Monday
8:00am - 4:00pm

Tuesday
8:00am - 4:00pm

Wednesday
8:00am - 4:00pm

Thursday
8:00am - 4:00pm

Friday
8:00am - 2:00pm

Saturday & Sunday
Closed

Pension Inc.

1980 Commercial Way
Green Bay, WI 54311

P: (920) 432-7020
F: (920) 432-7101

	C-Corporation / S-Corporate Deadline	Self-employed / Sole Proprietor / Single Member LLC Deadline
*Employee Deferrals (Pre-tax or Roth 401k)**	The Employee must complete a Deferral Contribution Agreement not later than the pay date of the Employee’s first deferral from Compensation. An Employee’s deferrals must be deposited to the Plan within 7 business days from the date they are withheld from the Employee’s Compensation. The Employee making the employee contribution should make sure that he or she has earned enough compensation during the pay period to cover the employee contribution. For example, if the Employee wishes to make a plan-year maximum employee deferral contribution on December 30th, the Employee will need to be sure that he or she has earned sufficient compensation during the pay period to cover the deferral contribution.	A Partner/Sole Proprietor may defer from draws or guaranteed payments paid during the entity’s taxable year, or paid after the close of the taxable year, but which constitute earned income for that year. (Compensation is deemed to be currently available on the last day of the entity’s taxable year.) The Partner/Sole Proprietor must complete a Deferral Contribution Agreement not later than the last day of the entity’s taxable year to defer from compensation for that year. A Partner/Sole Proprietor’s deferrals for the taxable year must be deposited to the Plan by the due date of the entity’s tax return (including extensions).
Employer Contributions (Profit Sharing)	Filing deadline for business, including applicable extension.	Filing deadline for business, including applicable extension.

Plan Types and Features

When you establish a Solo(k) plan with Pension Inc., you have the option to set up as a Daily-Traded plan on our open architecture platform with Mid Atlantic Trust Company, or as an Outside Brokerage Account.

	Daily Traded on Pension Inc. Platform	Outside Brokerage Account
Investment Options	Pension Inc. has access to trade over 25,000 mutual funds and ETFs; funds that are traded at Net Asset Value (NAV). We verify the availability of your chosen funds and establish accounts accordingly.	You work with your selected Financial Advisor to establish the account in the name of the plan. Pension Inc. is then listed as an interested party and provided brokerage statement copies for reconciliation and plan reporting.
Investment Restrictions	New plans cannot establish accounts in American Funds A shares or closed Funds.	Refer to your advisor for any account investment restrictions.
Plan Loan Availability	Yes – Contact Pension Inc.	Yes – Contact Pension Inc.
Plan Interaction / Internet Account Access	We provide you and your selected Financial Advisor (upon request) with Internet access to your plan account. Site features include ability to view balances, run reports, and process transfers.	All transaction interaction is directly with your advisor of record.

You are encouraged to contact Pension Inc. with questions on the current year’s limits or to assist with determining maximum employee and employer contributions.

We look forward to working with you.