Simplified Employee Pension (SEP)
A type of 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. Investopedia Says:
Contributions to SEP IRAs are immediately 100% vested, and the IRA owner directs the investments. Related Terms:
Individual Retirement Account - IRA
Roth IRA
Saver's Tax Credit |