Which of the following statements regarding a SEP is true?
1. The maximum contribution to a SEP is the lesser of 100% of compensation or $53,000 for 2015.
2. A SEP is appropriate for an employer with many part-time employees who want to limit coverage under the SEP.
3. Contributions to a SEP must vest at least as rapidly as a 5 year cliff vesting schedule or 2 to 6 year graduated vesting schedule.
4. If a partnership makes a flat percentage contribution equal to 25% of all employees' salary for the year to a SEP, a partner earning $100,000 during the year would receive a $25,000 contribution.
+4
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following statements regarding a SEP is true? 1. The maximum contribution to a SEP is the lesser of 100% of compensation or ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Which of the following statements regarding a SEP is true? 1. The maximum contribution to a SEP is the lesser of 100% of compensation or $53,000 for 2015. 2.