Yes you can, because contributions to a different account does not affect your SEPP. If you get another job and after you settle in, you might consider terminating the SEPP and paying the retroactive penalties as long as the plan is relatively new. This would prevent both the SEPP distributions added to your new salary from spiking your tax rates. And if you were to lose that job later on, you could always start a new SEPP plan. Most SEPP plans that run over 10 years are at risk of “not fitting” later in the plan, but busting the plan in the latter years is very expensive. So the longer you could put off starting another SEPP, the better because you will have fewer years left to 59.5. If you started your plan prior to 2022, you were not able to use the new 5% interest rate, meaning starting a new plan in the future would yield more dollars per dollar of account balance, and that might allow you to partition your IRA into two accounts with one of them outside the SEPP for emergency needs.

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