401(k) plans are popular among major employers that want to help their employees save for retirement, but not every employer has the resources to create a full-blown 401(k) plan. SEP IRAs are a great alternative that smaller businesses and self-employed individuals can use as a retirement plan. Contribution limits for SEP IRAs rise with inflation, and a $1,000 boost to the maximum contribution for 2018 will make them even more valuable for some workers.