JPMorganChase Unveils New Retirement Solution for Solo Entrepreneurs

Introducing Solo 401(k), an expansion of Everyday 401(k) by JPMorgan

NEW YORK, July 16, 2025 /PRNewswire/ -- JPMorganChase today announced the launch of Solo 401(k), a retirement solution specifically designed for solo entrepreneurs and self-employed individuals with no full-time employees. This marks a significant expansion of the Everyday 401(k), reinforcing JPMorganChase's commitment to supporting small businesses by delivering a seamless and powerful way for them to plan, save, and invest for a secure retirement.

Solo 401(k) allows small business owners to quickly set up a 401(k) plan online, offering flexible investment options, including J.P. Morgan Asset Management's ready-to-use solutions or customized plans. Vestwell will continue to be the recordkeeper for this Everyday 401(k) expansion.

"The launch of the Solo 401(k) marks a significant milestone in our commitment to enhance retirement planning for solo entrepreneurs," said Steve Rubino, Head of Retirement at J.P. Morgan Asset Management. "We are excited to help solo entrepreneurs and small business owners with the resources needed to secure their financial future, empowering them to confidently achieve their retirement goals. This offering underscores our dedication to improving retirement outcomes and guiding plan participants through the complexities of retirement planning."

With growing demand for effective retirement solutions, JPMorgan's Solo 401(k) launch is timely. A recent Chase survey¹ shows that 80% of business owners contribute to retirement accounts, with overall individual 401(k) options preferred by 35%. However, only 44% of business owners are satisfied with their contributions and wish to increase them, highlighting the need for flexible, high-contribution options.

"Today's economy is powered by self-starters – consultants, creators, contractors – who have redefined what it means to work. Solo 401(k), our new retirement solution for small business owners, provides a flexible way to save for the future while growing their business, wherever they may be in their retirement planning journey," said John McCourt, Head of Client Relationships at Chase for Business. Chase for Business serves more than seven million businesses, offering a wide array of solutions for business owners seeking to start or grow their enterprises.

Key Features of Solo 401(k) include:

• Eligibility: Tailored for sole proprietors and self-employed small business owners with no employees, other than a spouse, who can be included in the plan if employed by the business.
• Unmatched Flexibility and Savings Potential: To help maximize retirement savings potential, small business owners can save up to $70,000 annually (or more for those aged 50+) for themselves, and up to an additional $70,000 for their spouse, if employed by the business.
• High Contribution Potential and Tax Advantages: Acting as both employer and employee, individuals benefit from high contribution limits and tax advantages, including pre-tax and Roth contributions and tax-deferred growth.

J.P. Morgan Asset Management serves millions of defined contribution plan participants, providing a comprehensive suite of services, including defined contribution investment only solutions, cutting-edge retirement recordkeeping platforms, and valuable industry-leading insights, such as the Guide to Retirement, Guide to the Markets, and Long-Term Capital Market Assumptions. The firm also provides a one-stop-shop of digital tools and resources including Target Date Compass® and Core Menu Evaluator^SM.

To set up a Solo 401(k) plan or learn more, please visit its dedicated website.

¹ Chase surveyed approximately 500 small business owners across the nation in June. Respondents include both Chase and non-Chase customers.

Everyday 401(k) by J.P. Morgan is not an offering of JPMorgan Chase Bank, NA; clients will be directed to J.P. Morgan Asset Management, an affiliate.

Certain recordkeeping and related services for plans may be provided on behalf of JPMorgan Invest Holdings LLC (J.P. Morgan) by Vestwell Holdings, Inc. Vestwell Holdings, Inc. provides various fiduciary and non-fiduciary services on its proprietary recordkeeping platform to support tax-qualified retirement plans. To learn more about Vestwell Holdings, Inc. and its services, please visit https://www.vestwell.com/.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $3.8 trillion (as of 6/30/2025), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: www.jpmorgan.com/am.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.6 trillion in assets and $357 billion in stockholders' equity as of June 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

SOURCE J.P. Morgan Asset Management