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SEP Plan

SEP Plan Definition

Simplified Employee Pension Plan (SEP Plan) refers to a retirement plan established by employers. It allows employers to set aside money in IRAs for themselves and their employees. A SEP is available to any size business, even to self-employed people. This type of retirement plan allows for a contribution of up to 25 percent of the employee’s salary. SEP-IRAs are subject to the same investment rules as traditional IRAs.

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