Lauren is a freelance writer who contributes her work to a variety of online magazines. One of her big goals is to save enough so she can enjoy her retirement years. She decides to establish a self-employed 401(k). This type of plan is only available to self-employed individuals or business owners with no employees other than a spouse. With a self-employed 401(k), Lauren can contribute as both the employer, by making profit-sharing contributions, and the employee, by making salary deferrals. This factor may allow her to save more money for retirement than with a SEP-IRA. Because Lauren is unincorporated, both the employer and employee contribution she makes are deducted from her personal income. If she were to become incorporated, her employee contributions would be deducted from her paycheck, and the employer contributions would be tax-deductible as a business expense. When reviewing the rules for self-employed 401(k)s, Lauren makes a note to remember that when plan assets exceed $250,000 an annual IRS form 5500 will have to be filed. Not an issue now, but good to know. To review a plan comparison chart, be sure to visit the small business retirement plans page on Fidelity.com. Or for more information, contact a Fidelity retirement representative at 1-800-544-5373.