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Author: WSGrunt Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: SEP-IRA contributions by employee Date: 7/21/2000 8:52 AM
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My employer contributes to a SEP-IRA for me. Can I also contribute to the same IRA, and, if so, what are the limits/rules regarding such contributions?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23529 of 75381
Subject: Re: SEP-IRA contributions by employee Date: 7/21/2000 11:24 AM
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Greetings, WSGrunt, and welcome. You asked:

<<My employer contributes to a SEP-IRA for me. Can I also contribute to the same IRA, and, if so, what are the limits/rules regarding such contributions?>>

Yes, you may treat the SEP-IRA as if it were your traditional IRA and make a contribution of up to $2K to the SEP-IRA each year. That contribution may or may not be deductible depending on your adjusted gross income and your income tax filing status. For details, see out IRA area at http://www.fool.com/money/allaboutiras/allaboutiras.htm. The SEP is treated as any other employer-provided qualified retirement plan for the purpose of determining the deductibility of IRA contributions.

Regards..Pixy

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