What Is A Single K Retirement Plan?

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   Peggy Mace

   Most of the U.S.

   A single K retirement plan is a one participant 401(k) plan. It is also called uni-k, solo 401(k), personal(k) or individual 401(K). It is a special kind of retirement plan for sole practitioners such as consultants, store owners and freelance writers, but is a regular 401(k) with the same rules as any other 401(k). In the single k retirement plan, the single business owner can contribute as both owner and employee.

   Answered on August 3, 2013

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