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I've been reading over the "proposed" legislation for LSAs and RSAs, and I'm a bit confused about what might happen in my situation.. Do you think maybe someone a bit wiser here could take an educated guess?

I currently work full time, and I'm covered by a 401(k) at work. I also have my own Roth.

I work on the side as well, however, and put some of my self-employed income into a SEP-IRA, to help offset my tax load.

From what I understand, the 401(k) would become an ERSA and the Roth would become a RSA, and both would operate the same as before, save for the increased $7500 limit on the Roth/RSA.

But what about my SEP? I noticed mentions of "SARSEP" plans, but I thought these stopped being offered around 1996 -- does this include a regular one-person (the same person is the employee and employer) SEP? If you're only allowed one ERSA, would I lose the ability to contribute to my SEP, or could I have two ERSAs then - my 401(k) for my full time job, AND my self-directed SEP for my self-employment?

I saw no mentioned of the plain ol' SEP.. Any insight?

Thanks!

-tcp100
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