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.
SEP-IRAs allow extra retirement plan contributions for sole proprietors. Simplified employee pension individual retirement accounts (SEP-IRAs) allow sole proprietors to stash extra money in a tax-deferred retirement plan as both the employer and the employee.or example, as of 2013, you can't deduct any of your traditional IRA contribution if you also have a SEP and your MAGI exceeds $69,000. If you're married filing jointly, the limit goes up to $115,000.