Are you a small business, and don’t need the bells and whistles a 401(k) provides?
SEP & SIMPLE IRAs are retirement plans that are geared toward small companies that provide different benefits.
SEP IRA
- Employers make all of the contributions to the plan
- Great for sole-proprietors
- Very high contributions allowable
- Great investment flexibility
SIMPLE IRA
- For 100 employees or less
- Employee contributions with mandatory employer matching
- $11,500 contribution limits ($14,000 if age 50 and over)
- Great investment flexibility