A Simplified Employee Pension Plan (SEP) IRA is an individual retirement account associated with your employer's SEP Plan. Although you set up the SEP IRA account, your employer makes contributions on your behalf. In addition to your employer’s contributions, you can contribute your traditional IRA contribution to your SEP IRA (by mail-in check only and the contribution cannot be pre-taxed salary deferred). For additional information on traditional IRA contributions, see the Traditional IRAs for Retirement page. Other than the contributions, SEP IRAs are a lot like a traditional IRA, putting the account owner in charge of their retirement funds. Learn about the features, rules, and limits of a SEP IRA.
IRAs That Help You Retire with Confidence
Simplified Employee Pension Plan (SEP) IRA
SEP IRAs May Be a Great Choice for People Who:
- Have been notified by their employer they are eligible for a SEP Plan
- Are a small business owner who has established a SEP Plan
The Thrivent Approach
Though your employer is making the contributions on your behalf, you can control how they are allocated. Whether your goal is accumulation or distribution, Thrivent Mutual Funds offers simple solutions to diversify investments based on your risk tolerance. Choose from all-in-one investments or build your own allocations according to your specific objectives.
Contribution Limits |
|
Thrivent Minimum Investment |
|
Distributions |
|
Withdrawals |
|
Thrivent Mutual Funds Fees |
|
Additional Documents |
SEP Plan Participant Information
Your employer is required to provide information to all eligible employees to help you understand your SEP plan. You should look for:
- SEP plan document or IRS Form 5305-SEP (with instructions)
- A statement showing contributions made for the year (by Jan 31 of the year following the contribution or 30 days after the contribution is made, whichever is later)
- A copy of any plan amendments and their effect (within 30 days of the effective date)
Check the background of Thrivent Distributors, LLC on