Plan Establishment
Sole proprietors with no additional employees other than the spouse of the proprietor or Partnerships whose only employees are self-employed partners and their spouses. Trustee and Plan Administrator Business Owner, Spouse or Partner or any combination, or any other designated third party.


Salary Deferral
Contributions Up to $16500 (not to exceed 100% of pay. No more than $245000 of pay can be taken into account.). Total salary deferral and employer maximum of $49000.

Catch-up
Contributions Individuals age 50 or older may contribute an additional $5500 in salary deferrals beyond the $16500 which does not count towards the maximum total contribution limit of $49000.

Employer Contributions
Up to 25% of pay, (20% for self-employed), maximum $49000. Salary deferral contributions are also counted towards the $49000 limit.)


Rollovers
Rollovers and transfers allowed from traditional IRA, SEP, Qualified Plans or Keoghs (Profit Sharing, Money Purchase Pension, Defined Benefit), 401(k), 403(b) and governmental 457 plans. SIMPLE IRAs are eligible for rollover after two year holding period is met.

Loans
Available to all participants, including unincorporated business owners.


Government Reporting
IRS 5500-EZ.