Clarification on SEP IRA and Retirement Plan at Work
An individual owns a small business and wants to make a SEP IRA contribution for himself. They have a few employees who are not yet eligible for the plan. The owner also works for an employer and is covered by a plan at work (457). Can they contribute to both plans in the same year? Does it matter if the small business is a C corp or S corp?
Thanks for your help.
Permalink Submitted by Alan - IRA critic on Wed, 2016-04-06 18:21
He can contribute to the SEP IRA and the 457 plan in the same year, whether the small business is an S Corp or C Corp.