A Simplified Employee Pension (SEP)  Plan is a special retirement program by which employers can make tax-deductible contributions to the Individual Retirement Accounts (IRAs) of their eligible employees as a valuable employee benefit.

SEP's have been of special interest to self-employed business owners, who can take advantage of the much greater contribution limits than are available with regular IRAs.  And unlike traditional employer retirement plans, there is no extensive record-keeping, government filing or legal work required.