Watercooler: Get the facts on simplified employee pensions

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

A simplified employee pension, or SEP, can provide small businesses and self-employed individuals with a tax-deductible and tax-deferred way to save for retirement.

Several websites offer a range of information and forms related to an IRA-based SEP.

Here is a sampling:

Financial Web • Discusses pros and cons of simplified employee pension plans, at http://bit.ly/dqULQI.

Internal Revenue Service • Covers frequently asked questions, at http://1.usa.gov/X4QoEu.

Investopedia • Provides overview of eligibility, contributions and distributions, at http://bit.ly/11k375A.

TIAA CREF • Overview of how a SEP plan works and its advantages, at http://bit.ly/V8ulqs.

U.S. Department of Labor • Spotlights aspects such as how to establish and operate a plan, at http://1.usa.gov/aHGRM8.