Small Business and Self-Employed Retirement Plans
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Use this chart as a guide on which plans to consider. Compare in more detail.
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 contributions
Tax-deferred growth potential for pretax money; tax-free for qualified distributions of Roth money
No fees to establish the plan.
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.
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 $14,000 ($17,000 if age 50 or older) for 2022 and $15,500 ($19,000 if age 50 or older) for 2023.
Tax-deferred growth potential
No fees to establish the plan.
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 $20,500 ($27,000 if age 50 or older)1 for 2022 and $22,500 ($30,000 if age 50 or older) for 2023.
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
Investing
We believe in strategic investing. This means we don’t stop at surface-level analysis in making decisions. More than 5503 of our investment professionals go out into the field to get the answers needed for your investments.
Performance
Our experienced managers carefully manage risk as they pursue returns over longer time horizons for your investments.
Cost
No setup fees, loads, or sales charges.
Low account fees.
Over 85% of our funds for individual investors have expense ratios below their peer category averages.4
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.
To help you reach your financial goals, T. Rowe Price offers a broad range of investment products and services.
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 attorney or accountant for advice.
1Maximum amount of compensation that can be used in determining contribution is $305,000 for tax year 2022 and $330,000 for tax year 2023. 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 12/31/2022. Figures include T. Rowe Price Associates, Inc. and its investment advisory affiliates including T. Rowe Price Investment Management, Inc.
4Source: Lipper Inc. 135 of 150 of our Investor Class funds (excludes funds not available for direct purchase) more than 6 months old had expense ratios below their Lipper averages based on fiscal year-end data available as of 9/30/2023.
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