Balance Forward Individual(k): Flexible Owner-Only 401(k) Plans
The Balance Forward Individual(k) is a flexible solution for owner-only business clients that want full control over how their retirement assets are invested. With this option, clients manage their account directly through their broker-dealer, while Ascensus provides the plan documents, compliance support, and recordkeeping services.
Key Points
- Self-Directed Investments: Clients maintain their Individual(k) assets at the broker-dealer or institution of their choice, providing flexibility and control over investment options.
- High Contribution Potential: The plan design allows clients to combine elective deferrals with employer contributions, offering some of the highest retirement saving opportunities.
- Compliance and Support: Ascensus provides the plan documents, required filings, and ongoing recordkeeping support you need to administer a Balance Forward Individual(k) while helping you maintain compliance.