that we want to be a resource. Because
of our work in this growing industry segment, we see a lot of new web and
offline experts popping up.
401k Help Center (www.401khelpcenter.com)
is one of our favorites and a wealth of information. While you can explore the
entire site, the “Small Business Channel” is going to probably help you most.
They point to IRS publications (this one for example: http://www.irs.gov/pub/irs-pdf/p3998.pdf
) and have their own directory of providers (which we are not yet in, but hope
to be soon) which I have found helpful. It is on the left hand side of the site
in this small business channel area.
But my favorite link is the one on “One-Person 401k’s May
Make Sense for Owner-only Businesses” found here http://www.401khelpcenter.com/mpower/feature_070502.html
This article takes you through many of the most important
points for the solo operator. It includes suggestions and warnings from Hugh
Bromma, one of the pioneers in this space (and who we are interviewing for this
blog at the end of May, stay tuned!). Bromma reminds small biz owners of some of the
rules with this unique structure.
The article is a bit dated, but we’ll be including updates
that will help you make good decisions on solo 401k. The financial contribution
limits are what make this form of retirement plan very compelling to the small
business owner and those can be found within this specific section on One
Person 401k along with a nifty calculator.
401k Help Center also has an active forum online where you
can ask questions, peruse good answers. I like their “most popular” link which takes
you to what everyone else is reading – which can be helpful or not. They have
the usual weekly newsletter (usual in that nearly every content site has an RSS
or newsletter feed).
Lastly, this is an awesome resource if you are a consumer, a
small business owner, or a small company trying to figure out how to offer a
plan to your employees. I know of no better site to get up to speed on the
world of 401k. The site, by the way, is owned and operated by Rick Meigs out of
Oregon. Kudos to Rick for doing such a fine job.