IRA PLANS
SEP and SIMPLE IRA Plans for Small Businesses
Looking for a simple retirement option for your small business? SEP and SIMPLE IRAs are employer-sponsored IRA plans designed to be easy to set up and simple to manage.
Why choose a SEP or SIMPLE IRA?
SEP and SIMPLE IRA plans give small businesses practical, cost-effective retirement options without the complexity.
SEP and SIMPLE IRA plans can help you:
Save for your own retirement as a business owner
Offer employees a retirement benefit
Keep plan administration and maintenance simple
Take advantage of potential tax credits for starting a plan
Help attract and retain employees with minimal overhead
Not sure which one fits your budget?
Use our cost calculator to see how a SEP or SIMPLE IRA might fit your budget.
Benefits for employers
With SEP and SIMPLE IRA plans through Ascensus, employers can benefit from:
No plan fees at the employer level
Tax-deductible employer contributions
Flexible employer contributions with SEP IRAs
Fund lineups are selected by your advisor to fit your business goals
Dedicated IRA service team
For a deeper look at how small business IRA plans work and the potential benefits for employers, review our overview of the benefits of SEP and SIMPLE IRA plans.
Key differences: SEP IRA vs SIMPLE IRA
Both are employer-sponsored IRA plans, but they work differently.
| SEP IRA | SIMPLE IRA |
|---|---|---|
Ideal for | Sole proprietorships and businesses with few employees | Businesses with up to 100 employees |
Eligible businesses | Any employer may establish | Any employer that has less than 100 employees and does not maintain another retirement plan may establish |
Employee eligibility requirements | Must include employees who are at least age 21, have worked for your business at least three of the last five years, and earned at least $800 in compensation in 2026. | Must include employees earning at least $5,000 in the current year and any two preceding years |
Employee contributions | Generally, not allowed | Up to $17,500 in 2026* Pre-tax and Roth (after-tax) contribution options |
Employer contribution limits | Employer may contribute the lesser of $72,000 for 2026 or 25% of compensation. | Mandatory employer contributions. |
Employer contribution rules | Employer contributions are flexible. Employers don’t have to contribute every year, but when they do, they must contribute to all participants who performed services during the year for which the contributions are made. | Employer must make either a matching contribution up to 3% of compensation or 2% non-elective contribution for each eligible employee. |
* Age 60-63 super catch-up contribution limits apply only if the plan sponsor elects increased deferral limits under SECURE 2.0 and eligibility requirements are met. These figures reflect the basic contribution limits. Additional or higher limits may apply under SECURE 2.0 based on plan size or choices made by the plan sponsor.
See how Ascensus SEP IRA and Ascensus SIMPLE IRA compare to other small business retirement plans.
SEP and SIMPLE IRA pricing
Cost-effective pricing with no employer-level fees.
SEP IRA
Employer base fee
$0
One-time setup fee
$0
Employee fees
$0-$10 per account annually based on assets
SIMPLE IRA
Employer base fee
$0
One-time setup fee
$0
Employee fees
$0-$10 per account annually based on assets
As of 03/09/2026
Pricing subject to change.
How to open a SEP or SIMPLE IRA
SEP and SIMPLE IRA plans through Ascensus are set up with the help of a financial advisor who can guide you in choosing the right plan for your business.
Ready to explore your options?
Share a few details and our team will help you explore your options and next steps.