Simplified Employee Pension (SEP)

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Term: Simplified Employee Pension (SEP)

Definition:A retirement plan established by an employer or self-employed individual. Under the plan, employees have individual SEP IRA accounts their employer contributes to and these contributions are tax deductible to the employer. SEPs cost less to maintain than most other kinds of retirement plans and are most commonly used by small businesses.

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CoursePage Number
53 - Employee Benefits Strategies 14
74 - Trends in Retirement Plans 10
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