Here is how the SRS is computed for a retiree whose MRA is age 56 and who retires under FERS with 30 years of civilian service and an estimated age 62 Social Security benefit of $1200 a month. 1  The FERS service is divided by 40. 2  The age 62 Social Security benefit is multiplied by the fraction derived above.
The IRS allows you to combine money in a SEP IRA with money in a 401(k) plan, either by moving the SEP IRA money to the 401(k) or the 401(k) money to the SEP IRA.
To do so, you basically close your existing IRA and transfer its funds to the SEP IRA. Your existing IRA cannot be a Roth plan. A traditional IRA and a SEP IRA are both tax-deferral plans; you deduct your contributions from income for tax purposes, but you will pay taxes when you withdraw the funds at retirement.ou can claim a tax deduction for up to $5,000 a year contributed into a traditional IRA, but you can usually defer up to 10 percent of your pay in a SEP.