One Person 401K?

[zeros]

I was listening to a radio show where the host was talking about taxes, etc. He mentioned about a "One Person 401k." I didn't know a self employed person could have a 401K? Does anybody know anything about this? Am I behind the times?

[Lion]

2001

2001 legislation made solo 401(k)s available for the self-employed to save more for retirement. I don't use it and don't have any clients who do, so can't tell you much more. Google for an overload of information.

[geekgirldany]

I've got one that has a Solo 401K. But he hired an employee this year so it all had to be changed to a regular 401K.