Which of the following are true with respect to a simplified employee pension SEP plan?
A) An SEP plan combines the simplicity of a 401k with a generous contribution limit of a formal pension plan
B) An SEP plan allows employers to use IRAs to build tax-sheltered retirement funds for themselves and their employees at a nominal cost
C) An SEP plan minimizes the employer's record-keeping function
D) A and B
E) B and C
Correct Answer:
Verified
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