Simplified employee pension plan

{
  "id": "MLC-T-ECS-001795",
  "term": "Simplified employee pension plan",
  "field": "Economic statistics",
  "definition": "Individual retirement account established by employers for eligible employees that allows employees to direct their investments and be immediately vested in employer contributions.\n\nNote: A SEP is a pension plan that 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).",
  "abbreviation": "SEP",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/simplified-employee-pension-plan/"
}