No. of Recommendations: 0
I have my own individual Roth IRA. My employer informed me that they will be setting up a SEP for me this year. Is the contribution limit ($3000 now?) applied to each? So if my employer contributes 3000 to my SEP, can I still contribute 3000 to my IRA? Or does the 3000 cap mean that I can't put any in my own IRA if they put 3000 in my SEP?

Thanks.
Print the post Back To Top
No. of Recommendations: 0
The SEP doesn't affect your Roth or traditional IRA contributions. However, it does mean you are covered by a pension plan, so those limitations will apply to you.

--Peter
Print the post Back To Top