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http://boards.fool.com/this-article-is-in-error-a-sep-contribution-made-29236815.aspx
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| Subject: Re: SEP catch-up? | Date: 4/13/2011 5:31 PM | |
| Author: BruceCM | Number: 68896 of 72247 | |
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This article is in error. A SEP contribution made by a self employed individual is considered to come from the 'employer' side of the contribution. Catch-up contributions may only be made by employee salary deferrals, as would be the case in employee contributions to a 401(k), 403(b), 457(b) or SIMPLE IRA. What this article may be thinking of are either: 1. catchup contributions to a SARSEP, which are allowable (under certain circumstances)....but no new SARSEPs have been created since 1997, with the few remaining today a result of being grandfathered, or 2. IRA contributions may be made to one's SEP IRA account, but these are limited to a maximum contribution of $5,000 plus a $1,000 catchup contribution if age 50 or older. BruceM |
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