simplified employee pension


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


simplified employee pension


Cite this Entry

“Simplified employee pension.” Legal Dictionary, Merriam-Webster, Accessed 24 Jul. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!