SEP IRA

SEP IRA

For self-employed individuals or small-business owners, primarily with only a few employees.

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SEP IRA

Simplified Employee Pension Plans (SEP IRAs) help self-employed individuals and small-business owners get access to a tax-deferred benefit when saving for retirement.

  • Ideal for small business owners who are comfortable making all of the contributions. The SEP IRA is funded only by employer contributions, not by employee salary deferral.
  • Self-employed individuals who are interested in contributing more to their retirement savings than a traditional or Roth IRA allows but do not want the administrative responsibilities of a 401(k).
  • An individual who participates in their employer’s retirement plan can open a SEP IRA if they have self-employed income.
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