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. 

Speak to a Small Business Specialist now

1-800-831-1344

8am–8pm EST

 Podcast: Financial Tips for the Self-Employed

Our experts share money management tips geared specifically towards the self-employed. Please note that you will be directed to The Washington Post website.
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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 contributions

  • Tax-deferred growth potential for pretax money; tax-free for Roth

  • Low or no annual fees

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
  • Low or no annual fees

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 choose to make contributions, up to the lesser of: 100% of compensation or, for 2018, $12,500 ($15,500 if age 50 or older), for 2019, $13,000 ($16,000 if age 50 or older)

  • Tax-deferred growth potential

  • Low or no annual fees

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 choose to make either pretax or Roth contributions, up to the lesser of: 100% of compensation or, for 2018, $18,500 ($24,500 if age 50 or older), for 2019, $19,000 ($25,000 if age 50 or older)1

  • Tax-deferred growth potential for pretax money; tax-free for Roth

  • 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?
Strategic
Investing
 

We believe in strategic investing. This means we don’t stop at surface-level analysis in making decisions. More than 4003 of our investment professionals go out into the field to get the answers needed for your investments.

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 expense ratios below their peer category averages.4

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.

Want to discuss plans?

Speak to a Small Business Specialist now.

More account options

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 $275,000 for tax year 2018 and $280,000 for tax year 2019. 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 12/31/18.

4Source: Lipper Inc. 177 of 218 funds (excluding institutional and bank institutional funds as defined by Lipper) more than 6 months old had expense ratios below their Lipper averages based on fiscal year-end data available as of 3/31/19.