Definition from Nolo’s Plain-English Law Dictionary
A pension plan allowing self-employed business owners to make contributions toward their own retirement plans and to their employees retirement plans. Contributions are made directly to an individual retirement account set up for each employee (a SEP-IRA) and there the contributions accumulate tax-deferred until withdrawn.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:24 pm