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Simplified Employee Pensions (SEP IRA Plans)
A retirement plan that offers flexibility in the amount you choose to contribute each year, Simplified Employee Pensions allow you to set up an IRA for yourself and each of your employees.
The SEP IRA Plan dictates that you contribute a uniform percentage of pay for each employee in the years you choose to contribute, but the percentage can fluctuate from year to year.
- Flexible contribution percentages and terms
- Most employers are eligible to establish a SEP IRA Plan, even if they are self-employed
- Low administrative costs
- Contributions are not required every year
- Simplifies bookkeeping since contribution percentage is uniform