Roth 403(b) plans are employer-sponsored through payroll deduction similar to a
401(k)

• After-tax contribution
• No immediate tax advantage
• Money grows tax-deferred
• Employer may contribute to the plan
• Money at the time of withdrawal is not taxed
• Compliments other retirement plans
• Portable for easy, tax-free rollovers to other plans and IRA’s
• Flexible account options to diversify assets

A Simplified Employee Pension (SEP) plan provides owners with a simplified method to contribute toward the employees’ retirement as well as their retirement savings.

SEP-IRA’s have higher annual contribution limiots than standard IRAs.

• For 2023 tx year, you may contribute the lesser of 25%of compensation or $66,000.
• If you are self employed contributions ae generally limied t 20% of your net earnings
• For each year that you make a contributions to you SEP-IRA you must make
  cotributions for any of your eligible employees.
• You do not have to contribute to your SEP every year
• Money grows tax deferred
• Money taxed at the time it comes out
• Offered to state and local government employees
• Highly compensated employees
• Some 501c3 employees
• Contributions are the pre-tax basis
• Tax-deferred growth until funds are withdrawn
• Participants are eligible to contribute 100% of their salary
• There is no 10% penalty in the event the employee retires before 59 ½
• Pre-tax contribution limits $20,500
• Catch-up provision $6,500for those age 50 and older
• Employer may contribute to plan
• Participants must wait until 59 ½ before withdrawing funds or paying an early withdrawal penalty
• Money grows tax-deferred
• Money taxed at the time of withdrawal