Who qualifies to receive SEP IRA contributions?
Employers must include employees who meet all of the following requirements: • Are age 21 or older • Have worked for the employer during any three of the preceding five years • Earn at least $550 in 2009 • Earn at least $500 in 2008 Employers may choose more-liberal eligibility requirements; however, they may not exclude employees who meet the established requirements. Employers may exclude employees covered under a collective bargaining agreement and nonresident aliens.
