A 401(K) PLAN FOR OWNER ONLY BUSINESSES
Ascensus Essentials Individual(k) with American Funds
If you are self-employed or run a business without employees, the Ascensus Essentials Individual(k) with American Funds offers a simple, cost-effective way to save for retirement.
This owner‑only 401(k) lets you contribute as both the employer and the employee, which can help you potentially save more for retirement.
Who the Individual(k) is for
An Individual(k), also known as a Solo(k), is designed for businesses that have no employees other than the owner and a spouse.
This type of retirement plan may be ideal for1:
Self-employed professionals
Sole proprietors
Consultants or freelancers
Partnerships with only owner partners
Small business owners without employees
Benefits of an Individual(k)
It’s an owner-only retirement plan that gives you the savings power of a 401(k), without making things complicated.
Key advantages include:
Higher savings limits by contributing as both employee and employer
Tax-advantaged savings that may help lower your tax bill
Access to a broad range of American Funds investment options
Professional investment oversight, built in
Help managing your plan’s investments is included. A dedicated investment manager selects and monitors the investment lineup over time, so you don't have to manage investments on your own.
Individual(k) featuring American Funds pricing
Clear, straightforward pricing so you always know what to expect.
ESSENTIALS INVIDUAL(K) FEATURING AMERICAN FUNDS
$365 annual fee
+$48 for each additional particpant
One-time setup fee
$100
Additional fees
Annual custodial and trading fee 0.07%2
Annual investment fiduciary fee 0.25%3
As of 7/14/26 Pricing is subject to change. Excludes investment expenses. Fees are shown in annual terms but are deducted monthly.
Additional resources
Learn more about the benefits of the Ascensus Individual(k) featuring American Funds.
Employer overview
Plan guide
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* Fees are shown in annual terms but are deducted monthly.
As of 03/09/2026
Pricing subject to change.
1 In general, Individual(k) is for businesses without full-time employees. The plan may still be viable if employees are union workers, non-resident aliens, under age 21, or working fewer than 1,000 hours per year.