simplified employee pension plan(redirected from Self-Employed Individual Retirement Account)
Simplified Employee Pension Plan
simplified employee pension plan (SEP)
Simplified employee pension plan (SEP).
An SEP is a qualified retirement plan set up as an individual retirement arrangement (IRA) in an employee's name.
You can establish an SEP for yourself if you own a small business, or you may participate as an employee if you work for a company that sponsors such a plan.
The federal government sets the requirements for participation, the maximum annual contribution limits, and the rules governing withdrawals.