Setting up a Money Purchase Plan

[Guest localname]

Hi Everybody,

I operate a business as a sole proprietor and donot have any employees. I want to setup a Money Purchase Plan. Which is a good place to find information on how to go about doing this. I am completely new to this field and have just read the IRS Publication 560. Would appreciate recommendations of books, web-sites, reasonable priced options for professional help.

Thanks,

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Independent

[imchipbrown]

Check your yellow pages under "Pension and Profit-Sharing Plans".

[Guest ERead]

There are several good books out there on the sole prop. professional. I think I would start though with this web site, and the links at the top to "The Web", National Institute of Pension Administrators, and International Foundation of Employee Benefit Plans.

Do a key word search on the message boards for either Sole Prop or Money Purchase Pension. Get as much information as you can, and then call your local pension shops, and see what they can offer you. The problem you will more than likely run into is the fees associated with the annual administration of a single person plan. Check with you CPA and see if he has sponsored plans or he may have some contacts for you as well.

Good luck - and welcome to the world of Retirement Plans!