The fewer assets you have in a 401(k) plan, the less support you get. I know that since I have a Solo 401(k) plan. You open a plan at the local custodial firm and you are left to die.
So I certainly approve of anyone trying to create a better system of running these plans, whether it’s a master plan or a Pooled Employer Plan (PEP). The problem is I haven’t seen much success because it’s like collecting nickels and dimes. A hundred grand here or there isn’t going to become a huge asset base so quickly. You need distribution and you need interest. I wish anyone luck in pursuing this goal because Solo 401(k) plans can have unknowing compliance issues, coupled with that lack of support.
