I have a defined benefit plan that I max out, can I also adopt a solo 401(k) Plan for my business?
Ming W., CA
Yes - since a defined benefit plan includes only employer contributions, you can establish a Solo 401k Plan and make employee deferral contributions to the plan even if you have maxed out your DB contributions. With a solo 401(k) Plan you will be able to supplement your defined benefit plan contributions and make employee deferral contributions for 2015 equal to $18,000 or $24,000 if you are over the age of 50. The deferrals can me made in pre-tax or after-tax (Roth).
The Solo 401(k) Experts