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What is the maximum percent of compensation that a self-employed person can contribute to a SEP IRA? I have no employees. Here are some opinions from the first six pages of Google hits for "sep contribution limits 2002".

Merrill Lynch "as much as the lesser of 25% of compensation or $40,000"
http://askmerrill.ml.com/res_article/1,2271,17984,00.html

Harrisdirect "25%**/$40,000"
http://www.harrisdirect.com/pre/edu_ret_selfemployed.htm

Someone named Bud "20% (25%/1+25%)"
http://www.board.fairmark.com/board1/messages/17835.htm

BrixAugustin LLP "25%"
http://www.brixaugustin.com/us_tax_insider/Tax/AUG02_113_AMEND.htm

Harbor Fund "25%"
http://www.harborfunds.com/ira_page/new_ira_contribution_limits.htm

TD Waterhouse "25%**/$40,000"
http://www.tdwaterhouse.com/planning/retirement_center/small_business/tfretire.html

IRS site has the upper dollar limit and not a percent increase.
http://www.irs.gov/formspubs/page/0,,id=26880,00.html

Armstrong Financial says Congress goofed and "Its been fixed!!!"
http://www.armstrong-financial.com/2002Limits.html

From IRS Publication 590 (for 2001) pages 3 and 59:

For 2002, your employer can contribute to your SEP-IRA up to the lesser of 15% of your compensation or $30,000 (up from $25,500 in 2001).

From IRS Publication 590 (for 2001) page 63:

In effect, the overall limit is $25,500 for 2001 (15% x $170,000), and is $30,000 for 2002 (15% x $200,000).
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