What Is Sep Retirement Plan?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaA SEP retirement plan a government retirement plan under ERISA, excellent for small business and the self-employed. Participants can contribute up to 25% of compensation, or $51,000 for 2013 and generally tied to annual cost - of - living adjustment for later years. The contributions are tax deductible and accumulate tax deferred. Distributions are taxable at ordinary income tax rates with a 10% penalty for withdrawals before 59 ½.Answered on June 11, 2013+01+1 this answer
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