First Republic Private Wealth Management includes First Republic Trust Company; First Republic Trust Company of Delaware LLC; First Republic Investment Management, Inc., an SEC-Registered Investment Advisor; and First Republic Securities Company, LLC, Member FINRA/ SIPC.
Contributions to a traditional IRA reduce your AGI (Adjusted Gross Income) and lower your taxes. Your contribution must be made by April 15 following the tax year to be deductable. Contributions to a Roth IRA do NOT reduce AGI and do not lower your current taxes.
SEP contributions can only be made by the employer. The contribution limits are higher than for a traditional or Roth IRA. The maximum yearly contribution an employer can make to a SEP is the lesser of $51,000 or 25 percent of the worker's salary, as of 2013.ontributions made by the employer are tax-deferred like with a traditional individual retirement account. You may want to take money out of your SEP IRA if you leave your job or want to consolidate your retirement funds.