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(FAQ archive) Retirement plans the self employed and those with multiple employers
Old 10-19-2007, 02:22 PM   #1
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(FAQ archive) Retirement plans the self employed and those with multiple employers

The applicable IRS publication is Publication 560 (2006), Retirement Plans for Small Business. Possibilities include solo 401k plans (some providers allow a ROTH option), defined benefit plans, SEP IRAs, simple 401ks or simple IRAs.

IRAs are specifically dealt with in this publication:

Some of the threads also talk about how to maximize your retirement plan contributions when you have multiple employers or have both a retirement plan through work and you also want to set up a retirement plan to shelter some of your self employment income. A separate fAQ will deal with spousal IRAs--putting aside pretax money for a non-working spouse.

These two threads talk about how to coordinate contribution limits if you have more than one plan, such as multiple 401k plans, or a 401k and a 403b plan. Contributions do not have to be coordinated if the other plan is a 457 plan:

This thread talks more about coordination of contribution limits when you have more than one plan, especially if one is a SEP IRA. It goes further than the prior two threads and likely is more accurate:

No more lawyer stuff, no more political stuff, so no more CYA

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