## Answers

Solution: Option-A

Explanation: SEP, also termed as simplified employee pension refers to the retirement **plan** that a self-employed individuals or an employer can establish. The provision includes the employer contributions to be 100% vested immediately. When the unions have their own retirement plan SEP plan would not include the members of unions. The employees are allowed to roll money which is distributed from a SEP into a different IRA in a period of 60 days without penalty or withholding if it is not a required minimum distribution. The contributions should be by employee who at the age 21 or over.

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