My husband has two sources of income--one as salaried worker in company that offers a 401K but not a Roth 401K. He also has income from an S corp--sole proprietorship-- and has established a defined benefit plan (vs a SEP-IRA ) with it. Can he also establish a solo Roth 401K plan at the same time and contribute as the business as well as individually with after-tax contributions? If so, what determines the amount of contributions? If both plans are not an option at the same time, can you close-out the defined benefit plan and roll over those funds to an IRA, and then establish a solo Roth 401K?
He is considering retiring from the salaried job, but will still have income via the S-corp.
