401k

[Scott WEST]

Does solo 401k and 401k BOTH HAVE PROTECTION AGAINST CREDITS?

I know you touched on this but please again?

Scott WEST

BOOKKEEPER/TAX PREPARER

Contact

[Mark Nolan]

A solo 401k plan is a non-ERISA plan, which means it may receive protection at the state level depending on your state of residence not the federal level. In order to receive creditor protection at the federal level, the business sponsoring the solo 401k plan would need to employee non-owner W-2 employees who also participate in the 401k plan, which is not possible for a solo 401k plan because only owner-only businesses with no full-time W-2 employees can adopt a solo 401k plan.

https://www.mysolo401k.net/solo-401k-funds-fully-protected-in-bankruptcy/

Mark Nolan

Compliance Officer

Contact

1-800-489-7571 www.mysolo401k.net