Whether it’s just you or you and your employees, we have a retirement plan that’s right for you. Take a look at how they compare and find one that fits your needs.
Self-employed 401(k) |
SEP IRA |
Fidelity Advantage 401(k) |
SIMPLE IRA |
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|---|---|---|---|---|
| Who is the plan best for? | ||||
| Number of employees (including owners) | 1 (+ spouse) | 1 - 4 | 2+ | 1 - 100 |
| Who can contribute? | ||||
| Owner |
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| Employee(s) |
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| How do contributions work? | ||||
| Electronic contributions |
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| Employer contributions | up to 25% of salary | up to 25% of salary | 4% match | up to 3% match or 2% non-elective contribution7 |
| Employee contributions | up to 23k / 30.5k | N/A | up to 23k / 30.5k | up to 16k / 19.5k8 |
| Max contribution amount | 69k/76.5k⁵ | 69k⁵ | 36.8k/44.3k9 | varies |
| When can withdrawals be made?4 | ||||
| Once a triggering event has been reached (10% penalty may apply) | Anytime (10% penalty may apply) | Once a triggering event has been reached (10% penalty may apply) | Anytime (10% or 25% penalty may apply) | |
| What about fees and tax credits? | ||||
| Account fees | No account fees or minimums to open an account | No account fees or minimums to open an account | $300 / quarter | No account fees or minimums to open an account |
| Tax credits if offering a plan for the first time | N/A |
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Already have a 401(k) plan with another provider? Learn more about the support and value we can deliver with a Fidelity 401(k).
If you have a separate retirement plan established and you’d like to invest the assets in a Fidelity brokerage account, you may be interested in an investment-only retirement account.3
Call
800-544-5373
and say "Small Business Retirement"
