A simplified employee pension (SEP) individual retirement account (IRA) is a retirement savings plan established by smaller employers—including self-employed people—for the benefit of their ...

IRAs are attractive for the self-employed, freelancers, and small businesses because they are easy to set up and administer.

Contributions are made to an individual retirement account (IRA) set up for each plan participant. Self-employed individuals also can set up a SEP-IRA for themselves. A SEP does not incur the ...

SEP IRAs are employer-funded retirement accounts with contributions based on employee salaries. Business owners and self-employed people who fund a SEP IRA are contributing as the employer ...