SEP distributions are subject to the final regulations applicable in determining the required minimum distribution from qualified plans and IRAs. A simplified employee pension (SEP) plan offers employers a simplified way of providing employees with pensions. Therefore, SEP distributions may be stretched out far beyond the individual's life expectancy, as computed when distributions first commenced. Employer contributions are excluded from the employee's gross income and are not subject to employment taxes. Possibly, the biggest disadvantage of the SEP is the required inclusion of part-time or seasonal employees - those short-term employees who provide the least contribution to the company's success. The SEP holder may stretch out the payments by using the uniform lifetime table under the final regulations governing minimum distributions. The contributions made by the employer under a SEP are deductible for the year in which they are made. IRS Model SEP agreement. The
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