Salary Overview. The U.S. Bureau of Labor Statistics (BLS) reported that police and sheriff patrol officers had a mean hourly salary of $27.78 in May 2012 (www.bls.gov). This translates to a mean yearly income of $57,770. The top 10% of workers in this occupation made upwards of $42.94 or more an hour.alary Overview. The U.S. Bureau of Labor Statistics (BLS) reported that police and sheriff patrol officers had a mean hourly salary of $27.78 in May 2012 (www.bls.gov). This translates to a mean yearly income of $57,770. The top 10% of workers in this occupation made upwards of $42.94 or more an hour.
A Solo 401(k) , (also known as a Self Employed 401(k) or Individual 401(k)), is a 401(k) qualified retirement plan for Americans that was designed specifically for employers with no full-time employees other than the business owner(s) and their spouse(s). It is easier to contribute the maximum amount in a Solo 401(k) because of the Salary Deferral component of $18,000, which is not available with a SEP IRA. 2  A Solo 401(k) Plan includes a $6000 catch-up contribution for plan participantâs over the age of 50, which is not the case for a SEP IRA.
Contributions to 401(k) plans come from employee salary deferral and employer match dollars. According to the IRS, employees may defer up to $18,000 of their salary for 2015 and the employer may make match contributions based on that amount, plus additional contributions for bonuses or other purposes.or example, if a company has a 50% match on contributions up to 5% of the participant's salary, even if a participant earning $55,000 contributes $18,000, he would only receive a total match from his employer of $1,375.