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As an employee, you cannot directly setup a 401K, it must be set up by your employee. If you are self employed (generally defined as you get a 1099 vice a w2 but the 1099 can't be from a bank or stock account and you report the income on schedule e, se or f of your income tax return), such as a real estate salesperson or a sole proprieter, you can set up a solo 401k. Additional info is available at http://www.penscotrust.com

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Q: If your employer doesn't offer any 401k benefits can you setup one with a bank or investment firm?
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