SIMPLIFIED EMPLOYEE PENSION (SEP)

Just because you don't work for a big corporation, that doesn't mean you shouldn't be able to set aside funds for retirement. An SEP is a great way for smaller businesses and self-employed people to save for themselves and/or qualifying employees. It's less expensive and easier to maintain than a traditional IRA and gives the account holder total control.

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SIMPLIFIED EMPLOYEE PENSION (SEP)
Summary
  • Competitive rate of return
  • Allows larger contributions than a traditional or Roth IRA
  • Tax deduction for all employer contributions
  • Less expensive and easier to maintain than traditional IRA
  • Employee maintains account
  • Flexible contribution requirements