Difference between revisions of "Salary Reduction Simplified Employee Pension Plan"

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The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changed many of the Internal Revenue Code's requirements and limits for qualified plans and IRAs. If a model SARSEP plan was used, an updated model plan should have been adopted by the end of 2002 to take advantage of new law changes. <ref>[http://www.irs.gov/retirement/participant/article/0,,id=151277,00.htmlRetirement Plans FAQs regarding SARSEPs]</ref>
 
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changed many of the Internal Revenue Code's requirements and limits for qualified plans and IRAs. If a model SARSEP plan was used, an updated model plan should have been adopted by the end of 2002 to take advantage of new law changes. <ref>[http://www.irs.gov/retirement/participant/article/0,,id=151277,00.htmlRetirement Plans FAQs regarding SARSEPs]</ref>
  
==Links==
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==External links==
 
*[http://www.irs.gov/retirement/participant/article/0,,id=151277,00.html Retirement Plans FAQs regarding SARSEPs]
 
*[http://www.irs.gov/retirement/participant/article/0,,id=151277,00.html Retirement Plans FAQs regarding SARSEPs]
 
*[http://www.irs.gov/retirement/article/0,,id=117337,00.html Choosing a Retirement Plan: SARSEP]
 
*[http://www.irs.gov/retirement/article/0,,id=117337,00.html Choosing a Retirement Plan: SARSEP]

Revision as of 05:18, 21 August 2013

Template:Employer Provided Retirement Plans sidebar

A SARSEP is a simplified employee pension (SEP) plan set up before 1997 that includes a salary reduction arrangement. Under a SARSEP, employees can choose to have the employer contribute part of their pay to their Individual Retirement Account or Annuity (IRA) set up under the SARSEP (a SEP-IRA). A SARSEP may not be established after 1996. However, for SARSEPs set up before 1997, eligible employees hired after 1996 must be allowed to participate. [1]

The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changed many of the Internal Revenue Code's requirements and limits for qualified plans and IRAs. If a model SARSEP plan was used, an updated model plan should have been adopted by the end of 2002 to take advantage of new law changes. [2]

External links

References