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Yes, you can contribute to a traditional and/or Roth IRA even if you participate in an employer-sponsored retirement plan (including a SEP or SIMPLE IRA plan). See the discussion of IRA Contribution Limits.
The SIMPLE IRA and Traditional IRA are both individual retirement accounts, but the SIMPLE is set up through ones employer typically a small business of 100 people or less. The Traditional IRA is set up by an individual.
There are several types of IRA accounts available, suited for different types of investors. Similar to other types of retirement accounts, there are limits on what you can contribute each year. Types of IRAs include traditional IRAs, Roth IRAs, SEP IRAs and Simple IRAs.
A SIMPLE IRA could be a good option for small business owners who want to save for their retirement while helping their employees do the same. It has advantages that include simple administration and low costs.
Who can establish a SIMPLE IRA plan? Any employer (including self-employed individuals, tax-exempt organizations and governmental entities) that had no more than 100 employees with $5,000 or more in compensation during the preceding calendar year (the 100-employee limitation) can establish a SIMPLE IRA plan.
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Disadvantages of a SIMPLE IRA include their low contribution limits they are lower than the other two types of self-employed retirement plans. Other downsides include the strict requirements around plan loans, early withdrawals, and rollovers.

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