Save for Retirement with the Simplified Employee Pension IRA

Simplified Employee Pension IRA (SEP IRA)

A Simplified Employee Pension IRA (SEP IRA) is the ideal retirement solution for the self-employed. If you're a small business owner or a self-employed contractor or entrepreneur, a SEP IRA will help you save for your future retirement while enjoying tax benefits today. 

Am I eligible for an SEP IRA?

You may contribute to an SEP IRA if you are self-employed and have earned compensation. If you'd like more details, see IRS Publication 560 .

Compare IRAs

	SEP IRA	Traditional IRA	Roth IRA
Consider if	You are self-employed or a small business owner	You prefer money to grow tax-deferred until you retire	You would like additional flexibility for withdrawals, or if you plan to work past age 70
Taxable Withdrawal*			Tax-free for qualified withdrawals
Age Requirements	Employer must contribute for each employee eligible to participate in your SEP, even if they are over age 70 ½	Contribute until you're 70½	Contribute at any age
Mandatory Withdrawals	Age 70 1/2	Age 70 1/2	None

Contact a Member Support Representative for More Information

*Consult a tax professional about your situation.