SEP, SIMPLE IRA, and Individual(k) Plans
There’s a plan for your business. Discover the three employer-sponsored retirement plans geared for small- to mid-size businesses.
Make offering a retirement plan easy for you-and your employees. Reluctant to have a retirement plan because of the cost and complexity of typical employer-sponsored plans? SEP, SIMPLE IRA, and Individual(k) plans are different. They are easier to administer and less expensive to maintain. Simplified employee pension (SEP) plan • Contributions are made to participants’ Traditional IRAs • Employer contributions are deductible by the employer • Employer contributions are always discretionary Savings incentive match plan for employees of small employers (SIMPLE) IRA plan • Contributions are made to participants’ SIMPLE IRAs • Employer contributions are deductible by the employer • Employer contributions are required each year Individual(k) plan • Contributions are made to participants’ Individual(k) plan accounts • Contributions (except Roth deferrals) are deductible • Contributions are always discretionary Be sure to talk with your competent tax or financial advisor about which plan is right for your business.
659-EB (11/2025) ©2025 Ascensus, LLC