It is usually better for an individual to begin retirement savings using a Roth IRA . Rollover IRAs are used when you are changing jobs or retiring. You can still contribute annually to a Rollover IRA, with some restrictions. SEP IRAs are flexible plans ideal for the self-employed and the small business owner. Paperwork and tax reporting are minimal.
Contributions are discretionary and employer tax deductible.
Employee contributions are voluntary. There may be a company match feature.