American United Life Insurance Launches Small Business 401(k)
One401k allows small business owners to have a 401(k) program without the reporting or administrative demands of larger 401(k) plans, according to a company press release. It does this by offering a packaged funding vehicle – a variable annuity by The Starpoint that provides third-party administration through Benefits Plans Plus.
The plan can be customized, according to the release and clients can set 25% of their income aside up to $44,000 in taxable income with indexed contribution limit increases schedules for 2005-2007. It is available to sole proprietorships, partnerships, S or C corporations, LLCs, and LLPs.
OneAmerica provides retirement plan products and services, and is wholly owned by AUL.
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