The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.
Simplified Employee Pension
simplified employee pension n
: 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
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.