TRA Offers Solo(k) Retirement Plan as Great Tool for Self-Employed

APPLETON, Wis. - Jan. 8, 2015 - PRLog -- (January 8, 2015) – The Retirement Advantage, Inc. (TRA), an industry-leading retirement plan solutions provider offers free assistance to self-employed individuals who want to maximize their personal retirement contributions and reduce taxes by establishing a Solo(k) plan.

The Solo(k) is specifically designed for owner-only businesses and spouses. It can be established by both incorporated and unincorporated businesses, sole proprietorships, partnerships and corporations. The plan allows a maximum of $53,000 for 2015; age 50 or older $59,000 in pre-tax contributions, and offers the additional benefit of making after-tax Roth contributions.

TRA’s Solo(k) plan offers additional advantages over other Solo(k) programs by allowing:

* Easy Set Up
* Easy to Manage
* Higher Contribution Limits
* Flexible Investment Options
* Ability to Borrow
* Affordably Priced

"The Solo(k) is one of the least understood options for small business owners, but it is probably one of the best plans available when you consider the amount of money you can put away," emphasizes TRA’s President, Matt Schoneman. "If you’re a self-employed individual who wants to save a lot of money for your retirement and generate enough cash from your business we encourage you to consult with your financial advisor or tax advisor on how to take advantage of a Solo(k) plan."

A Solo(k) plan must be opened by Dec. 31 or fiscal year-end, whichever comes first. Investments in a Solo(k) can be invested in traditional as well as alternative assets. To learn more about eligibility and restrictions, use TRA's Individual 401(k) Contribution comparison tool.

About The Retirement Advantage:
The Retirement Advantage, Inc. (TRA) is a premier third party administrator that specializes in administration, consultation and compliance of retirement plans for small, privately held businesses nationwide. Currently TRA services more than 4,500 plan sponsors, 250,000 plan participants and has more than $4 billion in retirement assets under its administration. For additional information, please visit http://www.tra401k.com  and http://www.trasolok.com/

TRA’s free mobile app is available for download from Apple’s iTunes Store and the Google Play Store simply by searching for “The Retirement Advantage.”