A Simplified Employee Pension (SEP) plan provides business owners with a simplified method to contribute toward their employees’ retirement as well as their own retirement savings. Contributions are made to an Individual Retirement Account or Annuity (IRA) set up for each plan participant (a SEP-IRA). A SEP-IRA account is a traditional IRA and follows the same investment, distribution, and rollover rules as traditional IRAs. See the IRA FAQs. See also Publication 560 PDF, Publication 590-A and Publication 590-B for detailed information on SEP plans and SEP-IRAs. Establishing a SEP Participation Compensation Contributions Distributions (Withdrawals) (same as IRA rules - see IRA FAQs) Investments (same as IRA rules - see IRA FAQs) Terminating a SEP Have a question about retirement plans? Contact us.