Small Business and Self-Employed Retirement Plans
We have plans to help you minimize taxes and maximize retirement savings.
You work hard for yourself and your customers, and at the end of the day, you’d like to take home more of what you earn while also investing in your future. Our retirement plans for self-employed people and small business owners can help you keep more of your business income through tax deferrals while you also build your retirement savings.
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T. Rowe Price Small Business Retirement Plans
Whether you’re self-employed or employ hundreds—we have a plan for you.
Individual (Solo) 401(k)
Ideal for self-employed individuals and business owners (and their company-employed spouse) with no other employees.
- Flexibility to choose deductible business contribution percentage each year, up to 25% of total compensation1
- Both business owner and spouse may choose to make either pretax or Roth salary deferral contributions
- Tax-deferred growth potential for pretax money; tax-free for qualified distributions of Roth money
- No fees to establish the plan
SEP-IRA
Ideal for self-employed individuals and business owners willing to make contributions for employees.
- Flexibility to choose contribution level each year, up to 25% of total compensation1; the same percentage must be contributed to all employees' accounts
- Employees may not contribute
- Tax-deferred growth potential
- No fees to establish the plan
SIMPLE IRA
Ideal for self-employed individuals and business owners with under 100 employees. Allows both employer and employee contributions.
- Employer chooses each year to contribute either a matching contribution up to 3% of compensation1 or 2% non-elective contribution for each eligible employee2
- Employees (including the owner) may make salary deferrals up to $16,000 ($19,500 if age 50 or older) for 2024 and $16,500 ($20,000 if age 50 or older) for 2025
- Tax-deferred growth potential
- No fees to establish the plan
401(k) for Small Business
Ideal for employers who want to maximize flexibility in plan features, contributions, investment choices, and more.
- Wide variety of deductible business contribution and/or matching options
- Employees (including the owner) may make salary deferrals up to $23,000 ($30,500 if age 50 or older)1 for 2024 and $23,500 ($31,000 if age 50 or older) for 2025
- Tax-deferred growth potential for pretax money; tax-free for qualified distributions of Roth money
- Broad range of T. Rowe Price and non-T. Rowe Price investments
- Greater reporting requirements and costs compared with other plans
- Fees vary by plan
Why choose a T. Rowe Price Small Business Retirement Plan?
Competitive Performance
Our experienced managers carefully manage risk as they pursue returns over longer time horizons for your investments.
Low Cost
- No setup fees, loads, or sales charges
- Low account fees
- Over 80% of our funds for individual investors have gross expense ratios below their peer category averages4
Valuable Insights
Working with us, you get direct access to our knowledge, experience, and insight through a variety of products and solutions, designed with your needs in mind.
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Stay focused on your long- and short-term goals. Whatever you're investing for, we've got you covered.
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Speak to a Small Business Specialist now.
Monday–Friday, 8 a.m.–8 p.m. ET.
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For personalized financial planning and ongoing portfolio management, connect 1:1 with an advisor.
A retirement account should be considered a long-term investment. Retirement accounts generally have expenses and account fees, which may impact the value of the account. Early withdrawals are subject to taxes and possible penalties. For more detailed information about taxes, consult a tax or legal professional.
This material has been prepared for general and educational purposes only. This material does not provide recommendations concerning investments, investment strategies, or account types. It is not individualized to the needs of any specific investor and is not intended to suggest that any particular investment action is appropriate for you, nor is it intended to serve as a primary basis for investment decision-making. T. Rowe Price, its affiliates, and its associates do not provide legal or tax advice. Any tax-related discussion contained in this material, including any attachments/links, is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any tax penalties or (ii) promoting, marketing or recommending to any other party any transaction or matter addressed herein. Please consult your independent legal counsel and/or tax professional regarding any legal or tax issues raised in this material.
1Maximum amount of compensation that can be used in determining contribution is $345,000 for tax year 2024 and $350,000 for tax year 2025. This amount is increased periodically for inflation.
2May reduce the 3% limit to a lower percentage but, in any event, not lower than 1%. May not lower the 3% limit for more than 2 calendar years out of the 5-year period ending with the calendar year the reduction is effective.
3Investment professionals as of 12/31/2024. Figures include T. Rowe Price Associates, Inc. and its investment advisory affiliates including T. Rowe Price Investment Management, Inc.
4Source: Lipper Inc. 124 of 153 of our Investor Class mutual funds (excludes mutual funds not available for direct purchase) more than 6 months old had gross expense ratios below their Lipper averages based on fiscal year-end data available as of 9/30/2025.
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