Series 6: Simplified Employee Pension (SEP) Plan

Taken from our Series 6 - Investment Company Products/Variable Contracts Representative Exam

Definition of the term Simplified Employee Pension (SEP) Plan...

a retirement plan that an employer or self-employed individuals can establish. Though a SEP plan is meant for a business of any size, it is typically adopted by small businesses. Under a SEP plan, the employer is allowed a tax deduction for contributions made to the plan while making discretionary contributions to each eligible employee’s individual account.

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