Solo-401K, SEP-IRA, & SIMPLE-IRA Compared

Solo-401K, SEP-IRA, & SIMPLE-IRA Compared

What Have You Contributed in 2019?

Retirement Plans for self-employed

Solo-401K

SEP-IRA

SIMPLE-IRA

Contribution limit-- employee

Catch-up contribution ( age 50)

Contribution limit-- employer

Total contribution

$19,000

-0-

$13,000

$6,000

-0-

$3,000

25% compensation*

$56,000

25% compensation*

$56,000

3% match or 2% nonelective*

$26,000

Total contribution with catch-up ( age 50)

$62,000

$56,000

Required compensation for Total contribution*

Roth account

$148,000

$224,000 no

After-tax contributions

no

Employees

No

ERISA protection

no

Loans allowed

no

Administrative burden

Medium

low

*Unless you are an LLC filing as an S-corp, the maximum limit will be much less

This information is for educational purposes only and is not intended to be investment advice. Seek a licensed professional for individual financial advice. ? 2019. E Baker.

$29,000

$433,333

no no no no low

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download