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T H E H O M E TO W N N E W S PA P E R F O R M E N LO PA R K, AT H E RTO N, P O RTO L A VA L E Y A N D W O O D S I D ES E P T E M B E R 1 2, 2 0 1 8 VO L. 5 4 N O. 0 2W W. A L M A N AC N E W S. C OM
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S e p t stands for Simplified Employee Pension Plan. It is a type of retirement plan that allows small businesses to contribute funds to retirement accounts for their employees.
Employers with one or more employees who meet certain eligibility requirements are required to file a s e p t.
To fill out a s e p t, employers need to establish a plan, choose a financial institution to hold the plan assets, and provide information about the plan to employees.
The purpose of a s e p t is to provide a simple and cost-effective way for employers to offer retirement benefits to their employees.
Information that must be reported on a s e p t includes the names of employees, their compensation, and the amount of contributions made to their retirement accounts.
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