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What are simplified employee retirement plans (SEPs)?

Category : Finance | Answer: 1 5 Years Ago

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Simplified Employee Pension Plan (SEP) –A plan in which the employer makes contributions on a tax -favored basis to individual retirement accounts (IRAs) owned by the employees. If certain conditions are met, the employer is not subject to the reporting and disclosure requirements of most retirement plans. Under a SEP, an IRA is set up by or for an employee to accept the employer's contributions.

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