simplified employee pension
noun
sim·pli·fied employee pension
: a pension that is funded by employer contributions or through a salary reduction arrangement and that places fewer administrative burdens on the employer than do other plans and allows employer deduction of contributions and employee withdrawal at any time
called also SEP
Dictionary Entries Near simplified employee pension
Cite this Entry
“Simplified employee pension.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/simplified%20employee%20pension. Accessed 28 Nov. 2024.
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