Simplified Employee Pension plan

{
  "id": "MLC-T-LAW-004557",
  "term": "Simplified Employee Pension plan",
  "field": "Law",
  "definition": "A retirement plan that allows employers to contribute to individual retirement accounts (IRAs) set up for their employees. This plan offers a simplified way for small businesses to provide retirement benefits without the administrative complexities of traditional pension plans. Contributions are tax-deductible for the employer and tax-deferred for the employee until withdrawal.",
  "url": "https://mlchart.com/terminology/law/simplified-employee-pension-plan/"
}