4 ms·
>contractors are denied benefits like health insurance and pensions/401k plans As their own employers, independent contractors can (and probably should) set up
by ThrustVectoring 9y ago
>contractors are denied benefits like health insurance and pensions/401k plans
As their own employers, independent contractors can (and probably should) set up one-participant 401k plans for themselves. This can have significant advantages, since the "employer" gets to select the terms for the 401k, and employer-sponsored plans often drop terms that cost less than the value it'd provide you (eg, in-service Roth conversion + after-tax contributions).
- around_here 9y agoThey totally should on those sweet less-than-minimum contract wages. The lives of a high-flying contractor doing skilled work are very, very different than someone who faces a the "gig" contracts.
- Dylan16807 9y agoTotally separate issue. An employment contract with a beautiful, perfect 401k setup could also pay too little for you to save anything.