Series 7: 16.1.3.1 SEP Plans

Taken from our Series 7 Top-off Online Guide

16.1.3.1 SEP Plans

Simplified Employee Pension (SEP) plans are IRA-based retirement plans for any size business but are usually favored by small businesses. Under this type of plan, the business owner can make pre-tax contributions into IRA accounts set up for eligible employees and also for herself if the owner is self-employed. The plan allows employers to skip contributions in years when business is bad, but if the owner makes a contribution for herself, she must also make contribution

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At Phillips & Co., my job was to hire entry level applicants who could successfully pass the Series 65 and Series 7 examinations in three months and do it the FIRST TIME. After trying Kaplan/Dearborn, STC, and even the Series 7 for Dummies, 85% of our applicants were still having a hard time passing.

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Alex

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