SEP Plan definition
Examples of SEP Plan in a sentence
Your employer is required to provide you with information which describes the terms of your employer’s SEP Plan.
If you are an employer who is establishing a SEP Plan, please refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇ to obtain a copy of IRS Form 5305-SEP.
Your employer is required to provide you with information that describes the terms of your employer’s SEP Plan.
Owner intends to use this Account in connection with a SEP Plan or grandfathered SARSEP Plan established by the Owner’s employer.
The Prototype SEP Plan specifies that the contribution for each eligible employee will be the same percentage of compensation (excluding compensation higher than a specified dollar limit that is subject to cost-of-living adjustments) for all employees.
For more specific information, see the Prototype SEP Plan document and Adoption Agreement executed by your Employer.
The Employer has designated (insert Name & title) to provide additional information to participants about the Employer's SEP Plan.
If the Employer amends this plan other than by making an election permitted in the Adoption Agreement, the Employer will no longer participate in the Sponsoring Organization's Prototype Simplified Employee Pension Plan, the Employer will be considered to have an individually designed SEP Plan, and the Employer may no longer rely on the IRS opinion letter received in connection with this Prototype Simplified Employee Pension Plan.
Annual employer purchase payments to a SEP IRA under a SEP Plan may be made with respect to the taxable year in which you attain age 70 1/2 or any later year.
SEP-IRA A Simplified Employee Pension Individual Retirement Annuity used in conjunction with a SEP Plan established by an employer pursuant to Code Sections 408(b) and (k).