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The Simplified Employee Pension (SEP) plan for Individual Retirement Accounts (IRA)
is a retirement plan ideal for self-employed people and small-business owners who
wish to make tax-deductible contributions of up to 15% of their income, while
maintaining complete contribution flexibility each year.
Employer Benefits
- Easy to set up and administer
- Low costs compared to other company-sponsored retirement plans
- Employers can change contributions to suit their cash flow
Employee Benefits
- Funded solely by employer
- Contributions are 100% vested immediately
- Employees can withdraw assets for any reason
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