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ggantt
Joined: 07 Jan 2006 Posts: 1
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Posted: Sat Jan 07, 2006 9:04 am Post subject: Who Offers a Self Employed Roth 401(k)? |
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I've got a SEP-IRA today that I'd like to change to a 401(k) to enable both before and after tax contributions. I've checked with both Schwab and Fidelity - neither have any plans to offer a Roth 401(k) option to their Self Employed 401(k) products. I'd have thought these companies would be ready 1/1/06 with a Roth 401(k) product. Does anyone know who offers them today?
Greg |
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Beverly
Joined: 09 Jan 2006 Posts: 6
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roth401k Site Admin
Joined: 25 Apr 2005 Posts: 182
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Posted: Tue Jan 10, 2006 4:38 am Post subject: |
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Milberg Consulting offers these today. They have already established many
of these for both existing and new clients.
I would like to recommend Barry Milberg. He has helped me a great deal with this website and the information contained here within.
Contact Barry Milberg directly for any questions or more information:
Barry R. Milberg bmilberg@erisaexpertise.com
ERISA Expertise LLC
P.O. Box 819
583 Skippack Pike, Suite 300
Blue Bell, PA 19422
(800) 965-0988 (office, best for messages)
(215) 793-4500 (facsimile)
(610) 316-0193 (cell)
www.erisaexpertise.com
His informational website for owner-only plans is:
http://www.minikplan.com/home/minik.asp
His pension third party administration firm is:
http://www.milbergconsulting.com/home/mcllc.asp
Last edited by roth401k on Thu Jan 12, 2006 2:41 pm; edited 1 time in total |
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swensen
Joined: 11 Jan 2006 Posts: 1
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Posted: Wed Jan 11, 2006 6:39 pm Post subject: www.single-k.com |
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I set my solo 401k with www.single-k.com as they were the lowest cost provider I could find which would allow me to invest the funds wherever I want (e.g. vanguard which doesn't offer a solo 401k directly).
single-k.com told me they will add the roth 401k option soon. |
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Beverly
Joined: 09 Jan 2006 Posts: 6
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Posted: Sat Jan 28, 2006 4:39 am Post subject: |
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Roth IRA vs. Roth 401(k) for the Self-Employed
Published: Fri, 27 Jan 2006, 03:34 EST
Edited by Carly Zander
Staff Writer, www.Send2Press.com
WASHINGTON, DC (SEND2PRESS NEWSWIRE) -- Under new tax rules that took effect in January 2006, employees can ask their company to save part of their wages in a Roth 401(k). However, independent contractors, the self-employed, and business owners with no employees can establish their own Solo 401(k) with a Roth feature - (Solo Roth 401k) - right away, according to Daniel Lamaute, retirement plan specialist, with Lamaute Capital (InvestSafe.com).
Unique to Roth retirement accounts - Roth 401(k) and Roth IRA - participants get to save part of their wages on an after-tax basis. In exchange, any earnings in the Roth accounts can grow tax-free. In addition, the principal and accumulated earnings of a Roth account can be withdrawn tax-free provided that certain qualifications are met.
In contrast, contributions to an IRA, 401(k), etc, are on a pre-tax basis, but withdrawals of every dollar are taxed as ordinary income.
Roth 401(k)s can be viewed as Roth IRAs on steroids. For example, in 2006, the Roth 401(k) salary deferral limit is $15,000 vs. $4,000 for the Roth IRA, and the "catch up" for those 50 and older is $5,000 vs. $1,000 for the Roth IRA. Loans can be taken from a Roth 401(k) account, but not from a Roth IRA. And, unlike the Roth IRA high income earners are not restricted from having a Roth 401(k).
Solo 401k contributions can be split between the pre-tax account and the Roth after-tax account. However, the aggregate contributions must not exceed the elective deferral limit. Profit sharing or employer contributions on a pre-tax basis can be made to a Solo 401(k).
The Roth 401(k) feature would probably appeal most to:
* Individuals who think that their tax rate may be higher when they are ready to retire.
* Long term investors that have the potential to accumulate considerable compounded earnings in their account over time and want that growth to stay tax-free.
* Those concerned with passing some their retirement funds tax-free to their heirs.
* Executives whose income level disqualifies them for the Roth IRA.
The Roth feature of the Solo 401(k) is another tool for small business owners to tailor their investments to meet their individual retirement objectives. Owners should ask their accountants about this plan and how it may benefit them. Anyone can visit www.investsafe.com to request a free information kit on the Solo 401(k) with the Roth and the loan features. |
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Louisville SE
Joined: 28 Jan 2006 Posts: 1
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Posted: Sat Jan 28, 2006 7:55 am Post subject: |
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| Folks: It seems to be difficult to find a mutual fund company right now who is offering a Roth401k. I can tell you that American Century out of Kansas City is offering them. It is not official or for public release until later in the year. However, they told me over the phone that prototype accounts are available. You fill out the same forms that open a Solo 401k but the Roth feature is available if you ask. There is a $25 yearly fee, but no set up fees. I know Oppenheimer also offers them. Is anyone aware of any other national fund companies who offer them yet? I'd like to find one for no fee. |
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"roth 401(k)" - Google News
"roth 401(k)" - Google News
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Time for Open Enrollment CBS News, NY - 12 hours ago Something else to consider is the Roth 401(k). Employers have been slow to embrace this new twist on the traditional 401(k) plan. ...
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Investing In A 401(k) Retirement Account--The Painless Way Chipley Florida Online Newspaper - Foster Folly News, fl - Oct 4, 2008 With a Roth 401(k) plan, employees' contributions are taxed before they are invested but the account balances grow tax-free and there is no income tax on ...
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The Most Common 401(k) Features U.S. News & World Report, DC - Sep 25, 2008 ... vesting for matching contributions, and 30 percent of plans now offer a Roth 401(k) option (but only 13 percent of eligible employees participate). ... PSCA Releases 51st Annual Survey of Profit Sharing and 401(k) Plans MarketWatch all 7 news articles
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Wachovia Retirement Services Wins Five Gold Awards from Profit ... Earthtimes (press release), UK - Sep 24, 2008 The firm was recognized for the communication and education programs that it produced in the categories of Retirement Readiness, Roth 401(k), ...
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Financial Advice Differs For Different Stages Of Life Insurance News Net (press release), PA - Sep 29, 2008 Second, save the maximum amount possible in a Roth 401(k) plan _ if your employer offers one _ instead of a traditional 401(k) plan. "With the Roth 401(k), ...
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Not all retirement plans equal Milwaukee Journal Sentinel, WI - Sep 27, 2008 With a Roth 401(k) account, you give up the tax deduction for your contribution but gain a lifetime of tax-free investment returns and distributions. ...
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Examiner.com Entry Level Careers Examiner Examiner.com - Sep 20, 2008 ?The balance from a Roth 401(k) could be rolled over directly into a regular Roth IRA when you leave the employer. An employer match, if any, ...
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PSCA Announces the 2008 Signature Award Winners MarketWatch - Sep 24, 2008 ... of New Jersey Sponsored by: Prudential Retirement Bronze: Highmark Sponsored by: Wachovia Retirement Services Roth 401(k) Gold: Ameriprise Financial, ...
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Wachovia Retirement Services Wins Five Gold Awards from Profit ... The FINANCIAL, Georgia - Sep 25, 2008 The firm was recognized for the communication and education programs that it produced in the categories of Retirement Readiness, Roth 401(k), ...
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A Big Upgrade for Paychex Motley Fool - Sep 19, 2008 Case in point: Paychex added the capability for its clients to adopt Roth 401(k) plans early on, when major employers such as Microsoft (Nasdaq: MSFT), ...
Yahoo! News Search Results for "roth 401(k)"
Yahoo! News Search Results for "roth 401(k)"
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Three investment experts share how they are positioning their own retirement savings for the months ahead.
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More than 80 million Americans are making decisions about their employee benefits for next year. Stephanie AuWerter, editor of SmartMoney.com, offers some tips to consinder during open enrollment season.
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Five habits of highly successful investors.
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Wall Street investors have long been told to buy and hold. But that strategy is getting understandably tougher to stomach, especially following turbulence in the stock market.
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CHARLOTTE, N.C. ? Wall Street investors have long been told to buy and hold. But that strategy is getting understandably tougher to stomach, especially following turbulence in the stock market. Consider the economic landscape: About a dozen banks have failed so far this year, with more expected.
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For an increasing number of American workers, a 401(k) will be their primary source of income in retirement....
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Change your mindsetYoung adults, you're on your own. Company pensions are becoming a thing of the past and Social Security will look totally different by the time you retire. As you know, it's up to you to save for your future. The first thing you must do is change your mindset about money. Money is simply a tool that you can use. If you don't use it well, it will use you and eventually abuse ...
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The typical plan offers 18 fund choices and a 50 percent match.
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CHICAGO----The Profit Sharing/401k Council of America , a national nonprofit association committed to retirement savings through employee-sponsored defined contribution programs, has released its 51st Annual Survey of Profit Sharing and 401 Plans, which provides the most up-to-date information available on current practices and trends in profit sharing and 401 plans.
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We'll go out on a limb and assume you've heard the rumor that Social Security and Medicare are headed for trouble.
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