What is a SEP?
Answer:
A SEP is an abbreviation for a Simplified Employee Pension IRA. A retirement plan that an employer or self-employed individuals can establish.
The employer is allowed a tax deduction for contributions made to the SEP plan and makes contributions to each eligible employee's SEP IRA on a discretionary basis.
Contributions to SEP IRAs are immediately 100% vested, and the IRA owner directs the investments.
The employer is allowed a tax deduction for contributions made to the SEP plan and makes contributions to each eligible employee's SEP IRA on a discretionary basis.
Contributions to SEP IRAs are immediately 100% vested, and the IRA owner directs the investments.
