SEP IRAs: An essential guide

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Answers to key questions about simplified employee pension IRAs — the easy-to-use retirement plans for small business owners and the self-employed.
When you own a small business — or simply work for yourself — you have a wealth of ways to save for retirement in a tax-advantaged account. Chief among your options is a SEP IRA, short for simplified employee pension individual retirement account. Judith Anderson, senior vice president, Retirement & Personal Wealth Solutions at Bank of America, answers your most common questions about this popular retirement account.

In the end, understanding your choices can help you find the approach that helps your valued workers prepare for retirement, while also giving you and your company the opportunity for a healthy financial future.

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