Solo(k) RK System Launched for One-Person Shops

January 31, 2002 (PLANSPONSOR.com)- ExpertPlan that released an administration and recordkeeping system for sole-employee 401(k)s.

According to ExpertPlan, a retirement plan administrator that focuses on financial institutions, its Solo(k) product takes advantage of regulatory reform and the Internet to enable the nearly 18 million sole proprietorships in the US to contribute significantly more of their earnings – up to $41,000 annually – towards retirement.

According to ExpertPlan, Solo(k) gives one-person client companies:

  • IRS-compliant documentation,
  • plan reporting and testing,
  • a daily valuation recordkeeping system, and
  • marketing and sales support.

The cost of product setup to the mutual fund company or a broker dealer is “minimal,” according to ExpertPlan.

The Solo(k) product can integrate with the finance company’s brand and product line.

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