- simplified employee pension plan
A pension plan allowing self-employed business owners to make contributions toward their own retirement plans and to their employees retirement plans. Contributions are made directly to an individual retirement account set up for each employee (a SEP-IRA) and there the contributions accumulate tax-deferred until withdrawn.Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Personal Finance & Retirement → Retirement PlanningCategory: Personal Finance & Retirement → Taxes → Tax Audits
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.