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An Individual 401(k) plan is available to self-employed individuals and business owners, including sole proprietors, corporations, partnerships, and tax-exempt organizations with no employees other than a spouse. You must have a minimum 5% business share to be eligible.
When you retire, you have several options for your 401(k) savings, including leaving the money in the plan, transferring it to an IRA, withdrawing a lump sum, converting it into an annuity, or taking required minimum distributions at age 73.
Trust Agreement The trustee essentially has legal title to the plan assets. The plan's assets are protected from the creditors of the Plan Sponsor. As such, if the employer was to become financially insolvent, the assets would be available to the plan participants and their beneficiaries.
Since your 401(k) is a non-probate asset, you shouldn't include it in your last will and testament. Even if you did, whoever you name in your beneficiary designation form will override it.
How to move your old 401(k) into a rollover IRA Step 1: Set up your new account. ... Step 2: Contact your old 401(k) provider. ... Step 3: Deposit your money into your Fidelity account. ... Step 4: Invest your money.
Please call a Fidelity retirement professional at 800-544-5373. Complete this application to establish a Fidelity Retirement Plan account.
What are Average Fidelity 401(k) Fees? Average Fidelity 401(k) FeesAvg. Plan Assets$4,007,011.94Avg. Plan Participants46Per-Capita Admin Fees$309.63All-In Fees0.71%
Call a retirement specialist at 800-544-5373, and say "retirement representative," to get help with a rollover into a Fidelity Self-Employed 401(k).