California Wildfire

If your Edward Jones branch office is temporarily closed due to the wildfires in California and you need assistance, please call our Client Relations department at 1-800-511-5768 (Monday-Friday, 7 a.m. – 7 p.m. CT) or view additional contact options.

Owner-only 401(k) Plan

You may be a one-person business, but that doesn't mean you can't save for retirement like a large company. The Edward Jones Owner K® is an owner-only 401(k) plan, designed for business owners – with no employees other than their spouse – who want to increase or maximize pretax retirement contributions with flexibility. Any business with no employees other than owners and their spouses can set up this plan (including self-employed individuals, corporations and partnerships). 

Consider the following:

  • The contribution limits are higher than those of a SEP IRA. 
  • You can borrow from your Edward Jones Owner K® account.*
  • Your spouse also can contribute if working for your business.

Contribution features

  • For 2017, you can generally contribute elective deferrals up to 100% of compensation up to $18,000, or $24,000 if age 50 or older and employer non-elective contributions up to 25% of compensation as defined by the plan. Total contributions to a participant's account (not including catch-up contributions) cannot exceed $54,000. 
  • Instead of a pretax contribution, you may contribute all or part of your salary deferral amount as an after-tax Roth contribution (up to $18,000). Contributions (except Roth contributions) are tax-deductible, and earnings can grow tax deferred.

Deadlines

You must establish the plan by the last day of your business tax year, but no later than Dec. 31 of the year for which contributions will be made.

How we can help

Your financial advisor can provide information about the types of retirement plans available.

Important Information:

1Plans looking to add loan provisions must use a custom plan document from a third-party administrator. The Edward Jones plan document does not allow for loan provisions. All loans must comply with all applicable tax laws. Participants should consult with their tax advisor regarding their situation. Loans taken from a plan may be treated as a taxable distribution and may result in early distribution penalties. Please refer to your individual plan document for more information on optional plan loans.

This information is for educational purposes only. Edward Jones, its employees and financial advisors cannot provide tax or legal advice.

Find a Financial Advisor

Find a Financial Advisor

Select a State and then enter a last name

    Are you ready to retire?

    Adjust your inputs to see the effects on your retirement calculation.

    Use our calculator

    Explore our retirement resources

    Steps today help you have the freedom to make retirement your own.

    Read more