Insights & Ideas

Individual 401(k)

Tax law provides an opportunity for owner-only businesses and self-employed individuals to save more for retirement when compared to other retirement plan alternatives. Contributions, in the form of salary deferrals and profit sharing contributions, can total as much as $52,000 in 2014 ($57,500 if age 50 or older).

In addition to these higher contribution limits, other advantages include the ability to take a loan from the plan and the limited administration required with an individual 401(k) plan.

Call 1-800-THE LION to learn more about how an Individual 401(k) can help build your retirement savings.

Investors should consider the investment objectives, risks, charges, and expenses of a fund carefully before investing. Download a prospectus that contains this and other information about a fund, and read it carefully before investing.

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