New 401(k) Fee Disclosure Rules to Spur Interest In Self-Directed ...

Miami, FL (PRWEB) July 17, 2012

IRA Financial Group, the leading provider of self-directed solo 401(k) Plan, reports that the new 401(k) Plan fee disclosure rules, which must be received by each investor by the end of August 2012, will lead many investors to turning to a self-directed solo 401K plan as a more cost effective retirement solution, The new fee disclosure rules will offer 401(k) plan investors, who collectively control more than $ 3 trillion, the chance to see how much fees they are actually paying that they were unaware of, stated Adam Bergman, a tax attorney with the IRA Financial Group. The basic fact is that a number of 401(k) plans are just too expensive, stated Mr. Bergman. According to a report in Forbes magazine, the average small 401(k) plan investor is charged fees of almost 3% and most investors are unaware of these fees.

With IRA Financial Groups solo 401(k) plan, also known as a self-employed 401K Plan, self-employed individuals and small business owners with no full-time employees other than the owner(s) are given the ability to have a qualified retirement plan but without the administrative burdens of having a traditional 401(k) Plan. In addition to the high contributions associated with adopting a solo 401k plan ($ 50,000 annually ? $ 55,500 for those over the age of 50), the 401(k) plan participant is able to to make almost any type of investment, including real estate, tax liens, precious metals, private lending and business investments which typically do not involve any account fees.

With IRA Financial Groups Solo 401k plan, a plan participant will be granted checkbook control over his or her retirement funds. With IRA Financial Groups individual 401K plan, the plan account can be opened at any local bank, including Chase, Wells Fargo, and even Fidelity. In addition, the plan participant can make almost any traditional as well as non-traditional investments, such as real estate, precious metals, tax liens, and much more.

IRA Financial Group believes the new 401(k) plan fee disclosure rules will create transparency and will ultimately force a number of smaller companies explore other options, including the self-directed solo 401(k) plans. Even though the new fee disclosure rules only apply to ERISA governed 401(k) plan with employees, the disclosure of excessive fees may cause some employer to look at modifying the plan to a more self-directed option, stated Mr. Bergman.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market?s leading provider of self-directed solo 401(k) and self directed IRA structures. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646

Source: http://freereleasepress.com/new-401k-fee-disclosure-rules-to-spur-interest-in-self-directed-solo-401k-plan-ira-financial-group-reports/

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